AK Steel Earns Dual Honors From Toyota for Ninth Consecutive Year

Middletown, OH, March 27, 2003—AK Steel (NYSE: AKS) has received the highest supplier recognition possible in two separate categories from Toyota Motor Manufacturing North America, Inc. (TMMNA). The dual awards were presented Tuesday evening at Toyota’s annual Supplier Business Meeting and Awards Ceremony in Covington, Kentucky.

AK Steel once again was the only supplier to earn Toyota’s highest honor, Superior, in two categories, quality and delivery. AK Steel was also the only steel supplier to Toyota to earn a Superior award. Only six of Toyota’s suppliers earned the Superior award.

“The quality and reliability of Toyota’s vehicles depend on the success of our North American suppliers,” said Osamu “Simon” Nagata, vice president of purchasing for TMMNA in Erlanger, Kentucky, in a statement. “These suppliers achieve and often exceed our strict performance standards,” he said.

AK Steel became the first steel supplier to earn dual awards for its performance from Toyota in 1994, an accomplishment the company has now repeated for a ninth consecutive year. AK Steel has earned the highest possible honor, Superior, for both quality and delivery for the last five consecutive years.

“The incredible performance of our employees has helped AK Steel reach this unprecedented level of achievement in product quality and on-time delivery,” said Richard M. Wardrop, Jr., chairman and chief executive officer of AK Steel. “Winning nine straight years of dual honors from Toyota is indeed an honor,” Mr. Wardrop said.

AK Steel has achieved nearly 300 months of perfect on-time delivery to the four Toyota plants it serves in North America.

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 has more than 10,000 employees in plants and offices in Middletown, Coshocton, Mansfield, Walbridge and Zanesville, Ohio; Ashland, Kentucky; Rockport, Indiana; and Butler, Pennsylvania.  In addition, the company produces snow and ice control products and operates an industrial park on the Houston, Texas ship channel.