The Australian Competition and Consumer Commission (“ACCC”) has announced today that
discussions are continuing between the parties, and the ACCC expects to announce a decision shortly, subject to the progress and outcome of the discussions.
Smorgon Steel, OneSteel and BlueScope Steel see benefits accruing to the customers, suppliers
employees and shareholders of each company from completion of the Merger and the BlueScope
Steel Acquisition, and remain committed to bring the Merger and the BlueScope Steel Acquisition
before a meeting of Smorgon Steel’s shareholders at the earliest possible date.