AK Steel Raises Carbon Flat-Rolled Steel Prices

Middletown, OH, February 21, 2003— AK Steel (NYSE: AKS) said it is increasing transaction prices on its flat-rolled carbon steel products by $30 per ton.  The company said the increase will be effective with shipments on and after April 1, 2003 and applies to orders not currently covered by contract or Supply Plus agreements.

AK Steel also said that its fuel surcharge rate applied to these products is now set at 4% for all customer shipments.

Headquartered in Middletown, Ohio, AK Steel produces flat-rolled carbon, stainless and electrical steel products for automotive, appliance, construction and manufacturing markets, as well as tubular steel products.  The company operates steel producing and finishing facilities in Ohio, Kentucky, Pennsylvania and Indiana.  Additional information about AK Steel is available on the company’s web site at www.aksteel.com.