Wheeling-Pittsburgh Steel Corporation Provides Update on Restructuring Initiatives

Wheeling-Pittsburgh Steel Corporation Provides Update on Restructuring
Initiatives

WHEELING, W.Va., March 31 /PRNewswire-FirstCall/ -- Wheeling-Pittsburgh
Steel Corporation, a subsidiary of Esmark Incorporated (Nasdaq: ESMK), today
announced its intentions to close the Allenport, Pennsylvania cold-rolled
production facility and idle two of the three galvanizing lines located at its
Martins Ferry, Ohio steel processing plant. The subsidiary has commenced
issuing notice of these planned actions today under the Worker Adjustment and
Retraining Notification Act. These actions are consistent with the Company's
restructuring plans first announced in November, 2007.
About Esmark Incorporated
Esmark Incorporated is a vertically integrated steel producer and
distributor, combining steel production capabilities through both blast
furnace and electric arc furnace technologies with the just-in-time delivery
of value-added steel products to a broad customer base concentrated in the
Ohio Valley and Midwest regions. More information about Esmark can be found
at http://www.esmark.com.
Wheeling-Pittsburgh Steel Corporation, a wholly owned subsidiary of Esmark
Incorporated, is a producer of carbon flat-rolled products for the
construction, container, appliance, converter/processor, steel service center,
automotive and other markets. The company's products include various sheet
products such as hot-rolled, cold-rolled, hot-dipped galvanized, electro-
galvanized, black plate and electrolytic tinplate. More information about
Wheeling-Pittsburgh Steel Corporation can be found at http://www.wpsc.com.
This press release contains forward-looking statements within the meaning
of Section 21E of the Securities Exchange Act of 1934, as amended. These
forward-looking statements are based on current expectations and assumptions
that are subject to risks and uncertainties that could cause actual results to
differ materially. These risks and uncertainties include, among others,
factors relating to (i) risks associated with the closure of the Company's
Allenport, Pennsylvania facility and the idling of two of its three
galvanizing lines located at its Martins Ferry, Ohio steel processing plant,
including the risk that the cost of the projects will exceed expectations and
(ii) certain other risks detailed in the other reports and filings with the
SEC by the Company, which identify important risk factors that could cause
actual results to differ from those contained in the forward-looking
statements. In addition, any forward-looking statements represent the
Company's views only as of today and should not be relied upon as representing
views as of any subsequent date. While the Company may elect to update
forward-looking statements from time to time, it specifically disclaims any
obligation to do so.
SOURCE Wheeling-Pittsburgh Steel Corporation

Financial Communities, Dennis Halpin of Wheeling-Pittsburgh Steel Corporation,
+1-304-234-2421, cell, +1-304-650-6474, dhalpin@esmark.com; or Media, Bill
Keegan of Edelman for Wheeling-Pittsburgh Steel Corporation, +1-312-927-8424,
or +1-312-927-8424