Dofasco announces president and CEO

Dofasco Inc's president and chief excutive officer is Donald A. Pether, who's been with the company since 1970.

Pether will replace John Mayberry, who retired as chair of the board of directors following today's annual general meeting in Hamilton.

Dofasco issued the following news release:

**************************************************************** Dofasco's board announces executive and board changes

HAMILTON, ON, May 2 - The Board of Directors of Dofasco Inc. today announced that Donald A. Pether has been appointed Dofasco's President and Chief Executive Officer, replacing John Mayberry who retired as Chair of the Board of Directors and CEO today, following the company's Annual General Meeting in Hamilton. Mr. Pether, who is 55, was Dofasco's President and Chief Operating Officer before his appointment today.

He started his Dofasco career in 1970, and held several positions in the Metallurgical department before being appointed Plant Metallurgist in 1985.

In 1987, he was named General Sales Manager, and was appointed to the position of Vice President Commercial in 1989.

He became Executive Vice President, Dofasco Inc. and General Manager, Dofasco Hamilton in 1997, responsible for advancing Dofasco's Solutions in Steel(TM) corporate growth strategy.

In May 2002, Mr. Pether became President and Chief Operating Officer and was elected to Dofasco's Board of Directors.

Mr. Pether is Board Chair, Dofasco de Mexico, and President, DoSol Galva Inc., Dofasco's advanced joint venture galvanizing line in Hamilton.

He also serves on the Boards of Dofasco U.S.A. and Powerlasers Limited, and is a member of the Management Committee of Gallatin Steel.

Mr. Pether's active involvement in the Hamilton community includes participation on the Board of Governors for McMaster University and The Art Gallery of Hamilton. The Dofasco Board also announced the appointment of Allen Root, Dofasco's Vice President, Commercial, to the position of Executive Vice President and Chief Operating Officer.

Mr. Root, who is 59, began his Dofasco career in 1973 in the company's Financial Division and held several management positions before his appointment as Treasurer in 1990.

In 1996, Mr. Root was named General Manager, Primary Manufacturing before becoming Vice President, Commercial in 1997.

Brian Aranha, Dofasco's Director, Automotive Business, will replace Allen Root as Vice President, Commercial.

Mr. Aranha, who is 47, joined Dofasco's Research and Development department in 1979.

He was appointed to the position of General Manager, Quality Systems in 1993 and became General Manager, Quality Systems and Manufacturing Technology in 1997.

He was appointed Assistant Director of Purchasing in 1998 before he was named Director, Automotive Business in 2001. Brian MacNeill, who previously served as the independent lead Director of Dofasco's Board, was appointed Board Chair following the company's Annual General Meeting today. He has served on Dofasco's Board since 2001.

Mr. MacNeill retired as President and Chief Executive Officer of Enbridge Inc. in 2001 after serving as CEO since 1990.

Mr. MacNeill is Chairman of Petro-Canada. He also serves as a Director of a number of significant companies.

Brian MacNeill stated, "We all wish John Mayberry and his wife Susan the very best for a long and healthy retirement.

John has done an incredible job of creating a unique leadership position for Dofasco in the North American steel industry and in preparing his successor Don Pether, who has extensive leadership talents, to continue the high level of performance that has come to symbolize Dofasco." Mr. MacNeill continued, "Don Pether is taking the reins of a very capable organization with a strong and diverse senior management team that John and Don together helped develop.

"I expect that Don's talents will help Dofasco realize the full potential of its very successful Solutions in Steel(TM) growth strategy."

John Mayberry commented, "Today's appointment of Don Pether to President and Chief Executive Officer is outstanding news for the company, its employees, its shareholders and for the Canadian steel industry.

"Don has been a key part of Dofasco's leadership team for many years.

"His contributions have been fundamental to the success of our strategy and to the development of a new range of value-adding skills for our employees.

"Dofasco's achievements, at a time when many of our competitors are struggling and in financial difficulty, owe much to Don Pether."

Mr. Mayberry added, "Brian MacNeill has always been a tremendous contributor to the Board. I know Brian will do an excellent job of overseeing and supporting the company's management and representing the interests of Dofasco shareholders."

Dofasco is a leading North American steel solutions provider.

Product lines include hot rolled, cold rolled, galvanized, Extragal(TM), Galvalume(TM) and tinplate flat rolled steels, as well as tubular products, laser welded blanks and Zyplex(TM), a proprietary laminate.

Dofasco's wide range of steel products is sold to customers in the automotive, construction, energy, manufacturing, pipe and tube, appliance, packaging and steel distribution industries.

This News Release may contain forward-looking information with respect to Dofasco's operations and future financial results.

Actual results may differ from expected results for a variety of reasons including the factors discussed in the Management's Discussion and Analysis section of Dofasco's 2002 Annual Report.

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