Statement by Algoma Steel Inc.

The following statement about Essar Global's purchase of Minnesota Steel was issued this afternoon by Brenda Stenta, manager, corporate communications, Algoma Steel Inc.

The following statement about Essar Global's purchase of Minnesota Steel was issued this afternoon by Brenda Stenta, manager, corporate communications, Algoma Steel Inc.

************************* Further to Monday's press conference, the pending 'special announcement' alluded to by Denis Turcotte has come to fruition.

This development will be an excellent fit with Algoma Steel's operations both geographically and operationally, with the potential to serve as a steady supplier of iron-ore and steel slabs.

************************* Earlier Sootoday.com coverage of this story:

Big conglomerate buys Algoma Steel 200 new jobs possible under new Algoma Steel owners Essar moves to buy American steel company