ISG ING Groep NV

International Steel Group to Restart Caster on West Side of Cleveland Works, Add 140 Jobs RICHFIELD, Ohio, March 11 /PRNewswire-FirstCall/ -- International Steel Group Inc. announced today that it will restart a continuous caster and a basic oxygenfurnace (BOF) shop on the West Side of its Cleveland Works, and will hire approximately 140 laid-off steelworkers for the revitalized operations. ISG plans to invest $10 million, primarily for maintenance and engineering necessary to restart the facilities, which have been idle since the former owner, LTV Corporation, shuttered them in June 2001. The first slabs are expected to roll off the twin-strand continuous slab caster in May. At full production, the caster will add 60,000 tons of steel slabs per month. The additional casting capacity will balance ISG Cleveland's existing iron-producing and rolling capacity. William A. Brake, ISG vice president and general manager, and Mark Granakis, president of United Steelworkers of America (USW) Local 979, emphasized the strength of the partnership between the Company and the union as they announced the restart at a news conference this morning at USW headquarters. "Market conditions now warrant this investment from ISG -- a financial commitment as well as an expression of faith in the employees who will return to the Cleveland Works," said Brake. "The cooperation we have received from the steelworkers makes this day possible. We are united in the understanding that for each of us, this is more than a job; it is also a pledge to do our best for ISG families and for the entire Cleveland community." Granakis said, "The restart of the West Side operations is a testament to the skill and professionalism of the men and women who worked there, and who shut down those facilities with care and efficiency almost three years ago. Now, the USW is delighted to join ISG in restarting this first-class plant and committing to the future of steelworkers and steelmaking in Cleveland." Virtually all of the workers whom ISG plans to add will come from the ranks of former West Side employees. About International Steel Group Inc. International Steel Group Inc. is the second largest integrated steel producer in North America, based on steelmaking capacity. The Company has the capacity to cast more than 18 million tons of steel products annually. It ships a variety of steel products from 11 major steel producing and finishing facilities in six states, including hot-rolled, cold-rolled and coated sheets, tin mill products, carbon and alloy plates, rail products and semi-finished shapes serving the automotive, construction, pipe and tube, appliance, container and machinery markets. Forward-Looking Statements Statements in this release that are not historical facts, including statements accompanied by words such as "will," "believe," "expect," "estimate," or similar terms, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward- looking statements involve risks and uncertainties that may cause actual results or events to differ materially from those expressed or implied in such statements. These statements contain time-sensitive information that reflects management's best analysis only as of the date of this release. ISG does not undertake any ongoing obligation, other than that imposed by law, to publicly update or revise any forward-looking statements to reflect future events, information or circumstances that arise after the date of this release. Factors that may cause actual results and performance to differ materially from those in the forward-looking statements include, but are not limited to, negative overall economic conditions or conditions in the markets served; competition within the steel industry; changes in U.S. or foreign trade policy affecting steel imports or exports; changes in foreign currencies affecting the strength of the U.S. dollar; actions by domestic and foreign competitors; the inability to achieve the Company's anticipated growth objectives; changes in availability or cost of raw materials, energy or other supplies; labor issues affecting the Company's workforce or the steel industry generally; and the inability to implement the Company's operating culture and philosophy at acquired facilities. Further information concerning issues that could materially affect financial performance related to forward-looking statements can be found in ISG's Prospectus filed on December 12, 2003, and in the Company's subsequent periodic filings with the Securities and Exchange Commission. DATASOURCE: International Steel Group CONTACT: Brian Kurtz, Vice President, Finance & Treasurer of International Steel Group Inc., +1-330-659-9100

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