SHARON STEEL RECEIVED A WAIVER, FROM EPA, OF COMPLIANCE WITH THE BENZENE NESHAP, WHICH WAS TO EXPIRE ON 9/15/91. IN JANUARY 1991 THE COMPANY APPROACHED IPA AND INFORMED US THAT THEIR COKE BY-PRODUCT RECOVERY PLANT IN MONESSEN, PA. WOULD BE UNABLE TO COME INTO COMPLIANCE BY 9/15/91, AND WILL NEED AN ADDITIONAL TEN(10) MONTHS, UNTIL 7/15/92, IN ORDER TO COMPLY. THIS ACTION IS EXPECTED TO RESULT IN A CONSENT DECREE THAT PROVIDES A SCHEDULE OF COMPLIANCE (WITH FINAL COMPLIANCE TO BE REACHED BY 7/15/92), AND THE PAYMENT OF A PENALTY.