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CF&I Steel Corporation issued the following press release today: <br />PUEBLO, COLORADO -- CF&I Steel Corporation <br />(NASDAQ-CFI P) announced today that it has substantially <br />completed negotiations to obtain a $10 million <br />financing arrangement with Congress Financial <br />Corporation that is subject to final documentation and <br />satisfaction of certain conditions. The company <br />anticipates obtaining bankruptcy court approval for <br />this financing on or about November 30, 1990. Because <br />this is a post-petition obligation which is secured by <br />receivables and inventory, it is necessary to allow 15 <br />days for certain creditors to respond to this <br />arrangement. The company anticipates that all parties <br />concerned will be receptive to this agreement. <br />Separately, the company indicates that it had <br />adequate cash flow to meet its necessary operating <br />requirements for the foreseeable future. <br />