AK Steel Named To S&P 500

 

West Chester, OH, June 30, 2008—Following the close of trading today, AK Steel (NYSE: AKS) will be added to Standard and Poor's S&P 500 GICS (Global Industry Classification Standard) Steel Sub-Industry index, aligning the company with the very best of America's most prominent corporations. The S&P 500 is widely considered to be the single best indicator of the U.S. equities market.

"Being added to the S&P 500 is a proud milestone in the complete transformation of AK Steel since the fall of 2003," said James L. Wainscott, AK Steel chairman, president and CEO. "It reflects our ongoing efforts to create shareholder value by striving to continuously exceed our customers' expectations."

Since Mr. Wainscott was appointed president and CEO in the fall of 2003, the company's stock has risen from less than $2 per share at that time to more than $70 per share earlier this month.

In addition to the S&P 500, AK Steel was recently added to the prestigious list of world-class steelmakers by World Steel Dynamics, a leading steel industry information service. The company is also listed among FORTUNE magazine's "America's Most Admired Companies," receiving a number-one ranking in the metals sector for product quality and use of corporate assets for the year 2007. Among all FORTUNE 500 companies in 2007, AK Steel was ranked first in earnings growth with a 3,046% increase per share, second in stock price appreciation with a 174% increase and second in total shareholder return at 174%.

About AK Steel
AK Steel produces flat-rolled carbon, stainless and electrical steels, primarily for automotive, appliance, construction and electrical power generation and distribution markets. The company employs about 6,500 men and women in Middletown, Mansfield, Coshocton and Zanesville, Ohio; Butler, Pennsylvania; Ashland, Kentucky; Rockport, Indiana; and its corporate headquarters in West Chester, Ohio. Additional information about AK Steel is available on the company's web site at www.aksteel.com.

AK Tube LLC, a wholly owned subsidiary of AK Steel, employs about 300 men and women in plants in Walbridge, Ohio and Columbus, Indiana. AK Tube produces carbon and stainless electric resistance welded (ERW) tubular steel products for truck, automotive and other markets. Additional information about AK Tube LLC is available on its web site at www.aktube.com.