Dear ESOP Participant:
As the annual shareholders meeting for Weirton Steel
Corporation approaches, the ESOP
Nominating Committee is asking for your support
of a proposal that we developed and submitted to the
Company's Board, that would change the age
limitation for directors. We are proposing that the age
limitation be increased from 65 years to 68 years. T
he specific details of this proposal are included in
the proxy sent to all stockholders.
The ESOP Nominating Committee selects candidates to
serve as ESOP directors on the
Company's Board. By increasing the age limitation to
68 years, the Committee will be able to select
from a larger talent pool of qualified candidates.
The Committee has found it increasingly difficult to
find such candidates with the age 65 limitation.
We believe the ESOP director should be experienced
in the steel industry and be available to
devote the time to the position that it requires. That
usually means he or she must be retired from a
steel company. The current age limitation excludes
most retired or semi-retired individuals from being
considered - many of whom have outstanding qualifications.
The members of the ESOP Nominating Committee were
selected by the ESOP participants to
represent their interests. Therefore, we are urging
you to support this proposal. Changing this age
limitation only improves our representation on the
Board of Directors by allowing us to consider the
most qualified individuals.
PLEASE VOTE IN FAVOR OF THIS PROPOSAL.
Jim DeBarr
Jack Hatala
Duke Provenzano
Tim Reinard
Dan Thomas
