AK Steel Announces Carbon Steel Price Increase and April Surcharge

Middletown, OH, April 02, 2004—AK Steel (NYSE: AKS) said today that it will increase transactional prices for carbon steel products by $150 per ton beginning on May 1, 2004. The increase applies primarily to steel sold in the spot market. AK Steel also said that the applicable carbon steel surcharge for April will be $97 per ton.

AK Steel implemented a surcharge program for its carbon steels beginning with January 2004 shipments to partially offset extraordinary increases in raw material costs, particularly costs of energy and steel scrap. The amount of the surcharge is adjusted monthly based upon changes in raw material costs.

Headquartered in Middletown, AK Steel produces flat-rolled carbon, stainless and electrical steel products, as well as tubular steel products, for automotive, appliance, construction and manufacturing markets.