Oregon Steel Shareholders' Meeting Held Under Cloud of Protest

PORTLAND, Ore., April 27 /PR Newswire/ -- The following was issued today by the United Steelworkers of America (USWA):

Led by Superman, the ``Man of Steel,'' hundreds of protestors from community, labor and environmental groups converged on the annual shareholders' meeting of Oregon Steel Mills, Inc. (NYSE: OS - news) today.

Both outside and inside the meeting, unlawfully replaced workers and environmentalists demanded answers from the outlaw company -- answers which top management was apparently unable or unwilling to give, as they gaveled the meeting closed after only half an hour.

``It looks as though investors are starting to catch on to what workers and environmentalists have been saying for two-and-a-half-years -- you can't make good steel from bad decisions,'' said Terry Bonds, Director of United Steelworkers of America District 12.

In recent weeks, Oregon Steel has seen its stock price fall to all-time lows and come under increasing attack for its environmental and safety record. What was once a local labor struggle in Pueblo, Colorado, has now spread to cities around the country as customers, environmental activists and government officials have rallied around the 1,000 Steelworkers who have unlawfully been refused reinstatement to their jobs since late 1997.

``Labor Unions have led the fight for generations of workers seeking decent pay, safe working conditions, and healthy lives. The Steelworkers deserve the full support of the working community in their current struggle,'' said Portland City Commissioner Eric Sten.

Issues of concern to both protestors and shareholders include: 


-- Environmental practices at the company's facilities in Pueblo, Colo.,
and Portland, Ore., including a pending lawsuit by the Colorado
Department of Public Health and Environment for alleged violations of
the Clean Air Act in Pueblo, and a company proposal to weaken air
quality standards at its Portland mill.

-- The implications of a comprehensive "wall to wall" inspection of the
Pueblo mill by the federal Occupational Safety and Health
Administration that sources close to the investigation indicate could
uncover more than 500 violations of federal health and safety laws.

-- Taxpayer frustration over the company's failure to create the
anticipated number of jobs for the community following a $10 million
enterprise zone tax break for Oregon Steel.

-- Mounting potential back-pay liability of up to $300 million for Oregon
Steel's unlawful refusal to reinstate 1,000 workers at its Pueblo
facility. The company's unwillingness to negotiate a fair contract
with the union workers there has coincided with stock prices falling
to record lows and persistent problems at the Pueblo mill.


Members of the United Steelworkers Locals 2102 and 3267 went on strike against Oregon Steel's CF&I Steel subsidiary (now doing business Rocky Mountain Steel Mills) on October 3, 1997 to protest the company's unfair labor practices and substandard contract offer. When they ended the strike three months later, management unlawfully refused to reinstate the vast majority of Steelworkers to their jobs.

For more information, contact Paul Bogart, 360-694-7699, or John Duray, 412-562-2592, both of USWA.