FOR IMMEDIATE RELEASE

                    WHX ANNOUNCES EXTENSION OF EXCHANGE OFFER

         NEW YORK,  NY, JUNE 17, 1998 - WHX  Corporation  (NYSE:  WHX) announced
today that it has  extended the  Exchange  Offer  relating to its 10 1/2% Senior
Notes due 2005,  which was to expire at 5:00 p.m.,  New York City time,  on June
18, 1998 (as previously  extended from June 11, 1998), until 5:00 p.m., New York
City time, on June 22, 1998, pursuant to the terms thereof.