December 02, 2008

Claymont Steel announces extension of expiration date

Claymont Steel Inc announced that the expiration date for its previously announced cash tender offer for any and all of its outstanding 8.875% Senior Notes due 2015 has been extended to August 1st 2008. The early tender on July 24th 2008, remains unchanged. The Company has elected to forego its option to settle Notes validly tendered prior to the early tender date on an early settlement date.

Except as described above, all other terms and conditions of the tender offer remain in full force and effect. Consummation of the tender offer is subject to the satisfaction or waiver of certain conditions, including but not limited to a financing condition. Consummation of the tender offer is not conditioned upon receipt of any minimum principal amount of the Notes.

RBS Greenwich Capital is acting as dealer manager for the tender offer. The information agent and depositary for the tender offer is DF King & Co Inc.