ISG ING Groep NV

International Steel Group Completes Purchase of the Assets of Weirton Steel Corporation CLEVELAND, May 18 /PRNewswire-FirstCall/ -- International Steel Group Inc. announced today that its subsidiary, ISG Weirton Inc., has completed the acquisition of substantially all of the assets of Weirton Steel Corporation based in Weirton, West Virginia. The purchase price, which remains subject to adjustment, was $253 million including the assumption of certain liabilities. Weirton Steel, formerly the fifth largest U.S. integrated steel company and the nation's second largest producer of tin mill products, filed a voluntary petition for reorganization under Chapter 11 of the U.S. Bankruptcy Code on May 19, 2003. William McKenzie, former Vice President & General Manager of ISG Plate Inc. in Coatesville, Pennsylvania, has been named Vice President & General Manager of ISG Weirton Inc. "The Weirton facilities bring us added strength in both the tin and galvanized construction markets," said Rodney B. Mott, ISG's President and Chief Executive Officer. "Our new workforce is both outstanding and dedicated, and we could not have completed this transaction without the support of the Independent Steelworkers Union (ISU). We look forward to a quick and smooth integration as we bring the former Weirton employees and facilities into the ISG family and culture." ISG and the ISU have already entered into a labor agreement that was ratified by 90% of the voting ISU members. Consistent with ISG's prior programs, the labor agreement provides for a transition assistance program. About International Steel Group Inc. After the Weirton acquisition, International Steel Group Inc. is the largest integrated steel producer in North America, based on steelmaking capacity. The Company has the capacity to cast approximately 21 million tons of steel products annually. It ships a variety of steel products from 12 major steel producing and finishing facilities in seven 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. For additional information on ISG, visit http://www.intlsteel.com/ . 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; actions by domestic and foreign competitors; changes in availability or cost of raw materials, energy or other supplies; labor issues affecting ISG's workforce or the steel industry generally; and ISG's ability to integrate the assets of Weirton into the ISG operations. Further information concerning issues that could materially affect financial performance related to forward-looking statements can be found in ISG's Annual Report on Form 10-K for the year ended December 31, 2003 and in ISG's other reports filed with the Securities and Exchange Commission. DATASOURCE: International Steel Group Inc. CONTACT: Brian Kurtz, Vice President, Finance & Treasurer of International Steel Group Inc., +1-330-659-9100 Web site: http://www.intlsteel.com/

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