Exhibit 99.2
[ARMCO LOGO] ARMCO INC.
SPECIALTY FLAT-ROLLED STEELS
Pittsburgh, Pennsylvania
N E W S F R O M A R M C O CONTACT:
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Fred O'Brien
412-255-9868
Jim Herzog
412-255-9825
ARMCO ANNOUNCES PLANS TO ISSUE SENIOR NOTES
PITTSBURGH, PA, August 22, 1997 -- Armco Inc. (NYSE: AS) announced
plans to issue $150 million of Senior Notes maturing in 2007. The
company said the issue would be offered, in early September 1997, as a
private placement pursuant to Rule 144A under the Securities Act.
Armco said it intends to use the net proceeds from the offering of
the Senior Notes to redeem or repurchase an aggregate of $100.0 million
principal amount of the company's 11-3/8 percent Senior Notes due 1999
(which become subject to redemption by the company, at an initial
redemption price of 102%, on October 15, 1997) and $20.0 million
principal amount of its 9.20 percent Debentures due 2000 (which are
subject to redemption at par at any time), and for general corporate
purposes.
The Senior Notes will not be registered under the Securities Act of
1933 and may not be offered or sold in the United States absent
registration or an applicable exemption from registration. However,
Armco intends to register the Senior Notes for resale promptly after
completion of the offering.
Armco Inc. is a leading domestic producer of specialty flat-rolled
stainless, electrical and galvanized steels with plants in Butler,
Pennsylvania and Coshocton, Dover, Mansfield and Zanesville, Ohio.
Armco also produces snowplows and other snow and ice control products,
and standard pipe and tubular products.
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