AK Steel Adds Manganese To Its Stainless Steel Surcharge

Middletown, OH, April 28, 2004—AK Steel (NYSE: AKS) said today that the surcharge for its stainless steel sheet, strip and plate products will include a manganese component, effective with shipments on May 2, 2004.   The addition of this component is necessary because of the unprecedented rise in the cost of ferromanganese.

The manganese surcharge will cover all grades of AK Steel’s stainless steel products containing greater than 1.9% manganese, including AK Steel’s NITRONIC® 30, NITRONIC® 19D, 201, 201 LN and 301 LN grades.

The manganese component will be based upon a formula using the percentage of manganese by grade, a $600 per gross ton base rate, and the Platts Metals Week monthly average for U.S. Standard 78% ferromanganese.

AK Steel said that its May surcharges for stainless steels will be republished to include the manganese component and will be available on the company’s website at www.aksteel.com.

Headquartered in Middletown, AK Steel produces flat-rolled carbon, stainless and electrical steel products, as well as carbon and stainless tubular steel products, for automotive, appliance, construction and manufacturing markets.  NITRONIC is a registered trademark of AK Steel Corporation.