THE I.S.U. UPDATE

As we go to press, union members were preparing to receive their share of nearly $15.5 million in profit sharing for 1999.
This is the first time union members have received profit sharing since 1996.
Ironically, the profit sharing was made possible because of the sale of a portion of Weirton Steel’s ownership of MetalSite, a website that sells steel on the internet.
The profit sharing represents 33.33 percent of the company’s after tax income.
This is the eighth time Weirton Steel has paid out profit sharing since the employee-owned company was formed in 1984. Employees have received $229.5 million in profit sharing since 1984.
Meanwhile, Union President Mark Glyptis said the union still has concerns with the procedure used to write off the sizing press as a $22.5 million loss.

Figures Misleading

The Clinton Administration is releasing import numbers showing foreign steel imports are continuing to drop in recent months.But what the folks in Washington, D.C. are conveniently overlooking is the fact while imports are dropping; the numbers are still above the same time last year.

Steel Imports:

January 2000 - - - - - - - - - 2.9 million tons
January 1999 - - - - - - - - - 2.7 million tons
January 1998 - - - - - - - - - 2.5 million tons

So while we have seen some slight relief in the fight to stop illegal foreign steel imports, the battle continues.
The I.S.U. remains a top leader in the "Stand Up For Steel" campaign, but we must remain strong in the wake of these latest misleading government figures.
The recent trip to Charleston, West Virginia by union officials and "Stand Up For Steel" Committee members allowed us the chance to keep the issue upfront in our legislators’ minds.
But we must continue the fight and be prepared to defend our jobs and our industry.
Foreign steel imports continue to erode our domestic steel industry and we must remain ever vigilant.

Supersize It
By Ed Eisnaugle and Enzo Fraccasso

A new french fry machine is now in operation in the main Tin Mill Canteen.
The fry daddy is the direct result of union efforts to improve the food available to our union brothers and sisters.
A spokesman for AVI said they will monitor the french fry machine sales and if it is successful, more french fry machines may be placed elsewhere in the mill.
Last summer, AVI installed ice cream machines in several canteens.
AVI has also supplied us with the Mobile Catering Truck Schedule. All times are approximate.

Sub Station-Lee Ave (only when requested)  8:15am
Acid Plant                                                              8:30am
Water Treatment Plant                                         8:40am
Coke Plant                                                              9:00am
Rigger Shop                                                           9:10am
Fire Station                                                             9:15am
Car Repair                                                               9:20am
Slab Yard                                                                9:25am

Half Moon

Employees may soon be able to purchase Weirton Steel stock at a reduced rate.
At its recent meeting, the company’s board of directors okayed a new five-year employee stock purchase plan to begin in mid-year 2000.
Details must be refined, and the proposal will be submitted to shareholders this May.

Records Set
By Butch Dulaney

Union workers at the Hot Mill and No. 9 Tandem Mill have set several new daily production records.
The Hot Mill A Crew rolled an eight hour record 5,041 tons. This was the second time in the company history the production has topped 5,000 mark.
Meanwhile, union workers at No. 9 Tandem Mill on A, C, and D crews combined to set new daily cold rolling records.
Congratulations to everyone involved in the latest record producing efforts in the Strip Steel.

Pension Plan
By John Balzano

The company’s pension plan now has assets of $790 million, which is approximately $90million over the projected benefit obligation.
This great news is clearly the result of our retirement committee, which includes company and union representation.
The pension obligations have obviously increased during the years, but we have also continued to see our pension assets climb higher every year because of excellent management of our pension fund.
For a sixteen-year-old company, our pension fund is in excellent shape.

ESOP Committee

The new members of the Nominating Committee are now in place and prepared to begin work on recommending qualified candidates for nominations as the ESOP directors on the company and board of directors.
Members elected to serve a three-year term include David W. Ott, Sr. a twenty-eight year employee who works as a coil stripper in the Tin Mill. Ott also serves on the Follansbee Water Board.
Barbara Wilson is a 17 year employee and works as an electronic engineer in the Steel Works electronic shop.
Other members of the ESOP Nominating Committee include Logistic Supervisor Rich McCullough, retired supervisor Thomas F. Paul, and Darla Phillips, records manager in the company’s legal department.
Current ESOP Director Leonard Wises’ term expires in 2001.
The Nominating Committee has now begun its search to replace Wise, who must retire from the board because of age limit years.

Special Membership Meeting
March 14, 2000
10:00am and 6:00pm
Weirton Knights of Columbus Hall