ALGOMA STEEL HAS NO REASON FOR SHARE PRICE RISE
<Algoma Steel Corp Ltd>
said there were no specific developments to explain the recent
increase in its share price and there were no announcements
planned or anticipated.
    The company said it made the statement at the request of
the Toronto Stock Exchange.
    Algoma said it continues to achieve cost reductions and
there is a limited improvement in market demand for the
company's steel products.
    Algoma common closed yesterday in Toronto at 18-1/2, up
2-3/4, and was trading today at 18-1/4, down 1/4.
 Reuter
