BS. Base Grp.

RNS No 201w
BRITISH STEEL PLC
7 July 1999

                                                                             
Not for release or distribution in or into the United States, Canada or
Norway.

The proposed public offer for (depositary receipts for) ordinary shares of    
Hoogovens will not be made in or into the United States, Canada or Norway.  

                               British Steel plc

             Interim press release regarding the proposed merger of
                          British Steel and Hoogovens

With reference to the press release of 7 June 1999, the boards of British
Steel plc ("British Steel") and Koninklijke Hoogovens N.V. ("Hoogovens")
announce that a decision about making a public offer for all the outstanding
(depositary receipts for) ordinary shares of Hoogovens, as part of the
proposed merger of the two companies announced in that press release, is
expected in the first half of August 1999.  If a public offer is made at that
time, it is expected that, in view of the timetable for the scheme of
arrangement through which the proposed merger would be implemented with
respect to British Steel, the merger, including the public offer, would be
completed during the first half of October 1999.

The final decision with respect to making an offer, as well as the exact date
thereof, depends among other things on the consultations with the labour
organisations and the works council involved.

Enquiries:

British Steel                                                 0171 314 5501
John Bowden                                                 

This announcement is not an extension of the proposed public offer, directly
or indirectly, in or into the United States.  The proposed public offer will
not be made, directly or indirectly, in or into the United States, and it will
not be permitted to be accepted in or from the United States.  Accordingly, no
public offer will be made for Hoogovens's American Depositary Receipts.

This press release has been issued by British Steel and Hoogovens.  It has
been approved by Credit Suisse First Boston (Europe) Limited ("Credit Suisse
First Boston") and Warburg Dillon Read, a division of UBS AG, ("Warburg Dillon
Read") for the purposes of section 57 of the Financial Services Act 1986. 

Credit Suisse First Boston, which is regulated in the United Kingdom by The
Securities and Futures Authority Limited, is acting for British Steel and
no-one else in connection with the proposed merger and will not be responsible
to anyone other than British Steel for providing the protections afforded to
customers of Credit Suisse First Boston, nor for providing advice in relation
to the proposed merger.

Warburg Dillon Read, which is regulated in the United Kingdom by The
Securities and Futures Authority Limited, is acting for Hoogovens and no-one
else in connection with the proposed merger and will not be responsible to
anyone other than Hoogovens for providing the protections afforded to
customers of Warburg Dillon Read, nor for providing advice in relation to the
proposed merger.


END

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