Washington, Nov 29, 2001 - I want to thank Judge Randolph Baxter for hearing our motion for a temporary restraining order against LTV Steel. The Stipulation and Agreed Standstill Order reached this afternoon by all parties puts a halt to any shutdown at LTV Steel pending the bankruptcy hearing in Judge William Bodoh's courtroom in Youngstown, Ohio on Tuesday, Dec. 4th.

This is an important first victory. We successfully stopped the immediate shut down of the East Side works and protected the jobs of Cleveland steelworkers. This agreement stops LTV from proceeding with a plan to shut down the entire East Side Works prior to the Youngstown hearing.

If LTV had been successful with immediate shut down plans, it could have petitioned Judge Bodoh to make the shut down permanent since it would cost tens of millions of dollars to reline then refire the furnaces.

Regarding William Bricker, I want to thank him for his service at LTV Steel. It's time to move on, and quickly, to management dedicated to saving LTV Steel and thousands of Cleveland jobs.

I also want to thank my attorney's Martin Gelfand and Tim Grendell for their excellent legal work. Our attention now will be focused on next Tuesday's 9:00 a.m. hearing in Youngstown.