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(WARREN, OHIO) May 9, 2006 - WCI Steel, Inc. is investing $36.7 million in a new walking beam slab reheat furnace at its hot strip mill that will increase quality and productivity while reducing operating, maintenance and energy costs.

Construction is expected to begin immediately, with project completion set for January 2008.

The new walking beam furnace will replace three pusher-type furnaces now in operation at the strip mill. During construction, the strip mill will operate with two of its three existing furnaces.

WCI President Patrick G. Tatom said the new furnace will employ state- of-the-art combustion control technology that will reduce electricity usage by 25 percent per ton produced and, overall, reduce fuel consumption by 37.5 percent per ton produced.

“The walking beam furnace is the centerpiece of our strategic plan to   increase margins, grow our custom product business and enhance our operational efficiency,” Tatom said. “Operating costs will be reduced through improved energy efficiency, better material yields and lower maintenance costs while our product offerings will increase due to the furnace’s expanded capabilities.”

David A. Howard, WCI vice president-commercial, said the walking beam furnace will allow WCI to roll longer slabs (from 28 feet to up to 33.5 feet) and meet market demand for 1,000 PIW coil sizes (compared with the existing 850 PIW maximum). In addition, the furnace will enhance quality by providing consistent, uniformly heated slabs for rolling and reducing surface defects such as scale and skid tears.

“The walking beam furnace is a customer-driven initiative,” Howard said. “Once in operation, we will provide a higher quality product and have the opportunity to grow our custom hot-rolled business. At the same time, we will be able to address our customers’ general need for larger coil size by being able to provide 1,000 PIW coils.”

Also included in the project scope is the expansion of existing heat retention boxes to accept larger steel slabs, an upgrade of existing shipping cranes and an upgrade to the shipping floor online coil scales.

WCI is an integrated steelmaker producing more than 185 grades of custom and commodity flat-rolled steel at its Warren, Ohio facility. WCI products are used by steel service centers, convertors and the automotive and construction markets. The company has nearly 1,600 employees.

Forward-Looking Statements

Forward-looking statements in this press release are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The words "expect," "anticipate," "intend," "believe," "foresee" and similar expressions are intended to identify such forward-looking statements; however, this press release also contains other forward-looking statements. WCI cautions that there are various important factors that could cause actual events to differ materially from those indicated in the forward-looking statements; accordingly, there can be no assurance that such indicated events will occur. Among such factors are: general economic and business conditions; demand for WCIÕs products; changes in industry capacity and levels of imports of steel or steel products; effectiveness of the remedies under Section 201 of the Trade Act of 1974; the ability to maintain sufficient liquidity during the restructuring process; the status of any on-going restructuring discussions or negotiations; industry trends, including product pricing, competition; currency fluctuations; the loss of any significant customers; availability of qualified personnel; major equipment failures; changes in, or the failure or inability to comply with, government regulation, including, without limitation, environmental regulations; the outcome of legal matters and the risk factors detailed from time to time in WCI's periodic reports filed with the Securities and Exchange Commission. By making these forward-looking statements, WCI does not undertake to update them in any manner except as may be required by the Securities and Exchange Commission under federal laws.

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