AK Steel Holding (AKS)

Employees

At December 31, 2007, the Company’s operations included approximately 6,900 employees, of which approximately 5,150 are represented by labor unions under various contracts that will expire in the years 2008 through 2013. See discussion under Labor Agreements in the Liquidity and Capital Resources section below for detailed information on these agreements.

Employees

At December 31, 2006, the Company’s operations included approximately 7,000 employees, of which approximately 5,300 are represented by labor unions under various contracts that either have expired or will expire in the years 2007 through 2012. This number includes the employees at the Company’s Middletown Works represented by AEIF-IAM Local 1943 who have been locked out since March 1, 2006 when the parties were unable to reach agreement on a new labor contract and excludes the temporary replacement workers who currently are working at Middletown Works. See discussion under Labor Agreements in the Liquidity and Capital Resources section below for detailed information on these agreements.

Employees

At December 31, 2005, the Company’s operations included approximately 8,000 employees, of which approximately 6,300 are represented by international or independent labor unions under various contracts that expire in the years 2006 through 2010. See discussion under Labor Agreements on page 31 of this report for detailed information on these agreements.

Employees

At December 31, 2004, AK Steel’s operations included approximately 8,400 employees, of which approximately 6,700 are represented by international or independent labor unions under various contracts that expire in the years 2005 through 2008. The contract for approximately 300 Mansfield hourly employees represented by the United Steel Workers of America was scheduled to expire on March 31, 2005. On February 17, 2005, the members of the union representing these employees voted to extend the contract through February 10, 2007. The labor contract representing approximately 775 hourly employees at its Ashland facility will expire on September 1, 2005. In addition, the Company’s labor agreements at its Middletown Works, Butler Works, Zanesville Works and AK Tube facility expire at various dates in 2006. These unions represent approximately 4,700 employees. While management does not expect any disruptions in operations associated with upcoming labor negotiations, the Company cannot currently predict the outcome of the contract negotiations. However, there is a potential of a work stoppage if AK Steel and its unions cannot reach agreement in contract negotiations that could have a material impact on the Company’s financial condition, operations and cash flow.

In the fourth quarter of 2004, the Zanesville Armco Independent Organization, representing approximately 225 employees, voted to affiliate with the United Auto Workers at AK Steel’s plant in Zanesville, Ohio.