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                                  SCHEDULE 14A
                                 (RULE 14A-101)

                    INFORMATION REQUIRED IN PROXY STATEMENT

                            SCHEDULE 14A INFORMATION
          PROXY STATEMENT PURSUANT TO SECTION 14(A) OF THE SECURITIES
                    EXCHANGE ACT OF 1934 (AMENDMENT NO.   )

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                          BIRMINGHAM STEEL CORPORATION
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                (Name of Registrant as Specified In Its Charter)

                      THE UNITED COMPANY SHAREHOLDER GROUP
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    (Name of Person(s) Filing Proxy Statement, if other than the Registrant)

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Birmingham, Alabama - December 1, 1999

                   UNITED COMPANY SHAREHOLDER GROUP ANNOUNCES
              DELIVERY OF CONSENTS AND SAYS ANNUAL MEETING STILL ON

         The United Company Shareholder Group, a group of shareholders that has
been seeking to replace the Board (BOARD) of Birmingham Steel Corporation (NYSE:
BIR) today announced that it has delivered to BIR stockholder consents that
represent a majority of BIR's outstanding shares removing the existing BOARD and
appointing a New Birmingham Board (New Birmingham Board) consisting of John D.
Correnti, James A Todd, Jr., James W. McGlothlin; Donna M. Alvarado; Robert M.
Gerrity; Alvin R. Carpenter; Robert H. Spilman; Jerry E. Dempsey; and Steven R.
Berrard.

         The BOARD had issued a press release yesterday evening announcing that
because of the delivery of the consent action, BIR had postponed the Annual
Meeting of Shareholders scheduled to take place in Orlando, Florida on December
2, 1999. The New Birmingham Board, after an organizational meeting that elected
John Correnti Chairman and CEO, announced that the Annual Meeting will take
place as scheduled at the Peabody Orlando Hotel in Orlando, Florida at 10:00
a.m. on December 2, 1999.

         Representatives of the United Group are continuing to seek a meeting to
work out a compromise with the prior directors of BIR to ensure a smooth
transition.

         Contact: Declan Denehan, ChaseMellon (212) 273-8084