VALLEY STEEL IS PERFORMING CORRECTIVE ACTION AT ITS FACILITY LOCATED IN LOUISIANA, MO., PURSUANT TO A RCRA 3008(H) AOC WHICH WAS ENTERED INTO ON 9/26/90. VALLEY STEEL FILED FOR PROTECTION UNDER CHAPTER 11 OF THE BANKRUPTCY CODE ON 2/11/92. VALLEY STEEL HAS FAILED TO FILE MONTHLY PROGRESS REPORTS WITH EPA SINCE DECEMBER 1990. AS A RESULT, STIPULATED PENALTIES ARE ACCRUING.