AK Steel Announces Offering of Common Stock

                 AK Steel Announces Offering of Common Stock

PR Newswire

WEST CHESTER, Ohio, Nov. 13, 2012

WEST CHESTER, Ohio, Nov. 13, 2012 /PRNewswire/ -- AK Steel Holding Corporation
(NYSE: AKS) ("AK Holding") announced that it has commenced a registered
offering of 25,000,000 shares of its common stock. In connection with this
offering, AK Holding has granted the underwriters a 30-day option to purchase
up to an additional 3,750,000 shares of common stock. AK Holding intends to
use the net proceeds from the sale of the common stock to repay borrowings
under its asset-backed revolving credit facility and for general corporate
purposes. The offering is being made pursuant to an effective shelf
registration statement on file with the Securities and Exchange Commission
(the "SEC").

Concurrently with this offering of shares of its common stock, its subsidiary,
AK Steel Corporation ("AK Steel"), has commenced a registered offering of $125
million aggregate principal amount of exchangeable senior notes due 2019.

The joint book-running managers for the offering are J.P. Morgan, Credit
Suisse, Morgan Stanley, Wells Fargo Securities, Deutsche Bank Securities and
Goldman, Sachs & Co. AK Holding and AK Steel have filed a registration
statement (including a prospectus) with the SEC relating to the offering. The
offering may be made only by means of a prospectus supplement and the
accompanying prospectus. Before you invest, you should read the prospectus
supplement and accompanying prospectus and other documents AK Holding and AK
Steel have filed with the SEC for more complete information about AK Holding,
AK Steel and the offering. You may review electronic copies of these
documents for free by visiting EDGAR on the SEC Web site at www.sec.gov.

Alternatively, any underwriter or any dealer participating in the offering
will arrange to send you the prospectus supplement and accompanying prospectus
if you request them by contacting: J.P. Morgan at J.P. Morgan Securities LLC,
Attn: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New
York 11717, 866-803-9204; Credit Suisse at Credit Suisse Securities (USA) LLC,
Prospectus Department, One Madison Avenue, New York, NY 10010, 800-221-1037,
or email: newyork.prospectus@credit-suisse.com; Morgan Stanley at Morgan
Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd
Floor, New York, NY 10014, 866-718-1649, or email:
prospectus@morganstanley.com; Wells Fargo Securities at Wells Fargo
Securities, LLC, Attn: Equity Syndicate Department, 375 Park Avenue, New York,
New York 10152, 800-326-5897, or email: cmclientsupport@wellsfargo.com;
Deutsche Bank Securities at Deutsche Bank Securities Inc., Attn: Prospectus
Group, 60 Wall Street, New York, NY 10005, 800-503-4611, or email:
prospectus.cpdg@db.com; or Goldman, Sachs & Co. at Goldman, Sachs & Co.,
Prospectus Department, 200 West Street, New York, NY 10282, 866-471-2526,
facsimile: 212-902-9316, or email: prospectus-ny@ny.email.gs.com.

This announcement does not constitute an offer to sell or the solicitation of
an offer to buy the common stock in the offering, nor shall there be any sale
of such common stock in any state in which such offer, solicitation or sale
would be unlawful prior to registration or qualification under the securities
laws of any such state.

Forward-Looking Statements

Some of the statements in this release are intended to be, and hereby are
identified as "forward-looking statements" for purposes of the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995. The
company cautions readers that such forward-looking statements involve risks
and uncertainties that could cause actual results to differ materially from
those currently expected by management, including those risks and
uncertainties discussed in AK Holding's Annual Report on Form 10-K for the
year ended December 31, 2011 and Quarterly Report on Form 10-Q for the quarter
ended June 30, 2012, as updated in its subsequent Quarterly Reports on Form
10-Q and Current Reports on Form 8-K filed with or furnished to the Securities
and Exchange Commission. Except as required by law, the company disclaims any
obligation to update any forward-looking statements to reflect future
developments or events.

AK Steel

AK Steel produces flat-rolled carbon, stainless and electrical steels,
primarily for automotive, infrastructure and manufacturing, construction and
electrical power generation and distribution markets. The company employs
about 6,200 men and women in Middletown, Mansfield, Coshocton and Zanesville,
Ohio; Butler, Pennsylvania; Ashland, Kentucky; Rockport, Indiana; and its
corporate headquarters in West Chester, Ohio.

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.

AK Coal Resources, Inc., another wholly-owned subsidiary of AK Steel, controls
and is developing metallurgical coal reserves in Somerset County,
Pennsylvania. AK Steel also owns 49.9% of Magnetation LLC, a joint venture
headquartered in Grand Rapids, Minnesota, which produces iron ore concentrate
from previously-mined ore reserves.

SOURCE AK Steel Holding Corporation

Contact: Media - Barry L. Racey, Director, Government and Public Relations,
+1-513-425-2749, or Investors - Albert E. Ferrara, Jr., Senior Vice President,
Corporate Strategy and Investor Relations, +1-513-425-2888
 
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