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Nucor Announces Management Succession

CHARLOTTE, N.C., Sept. 6 /PRNewswire/ -- The Board of Directors of Nucor (NYSE: NUE) announced the following:

Daniel R. Dimicco, age 50, has been elected to the positions of President and Chief Executive Officer, succeeding H. David Aycock, effective September 6, 2000. Mr. Dimicco was also elected to Nucor's Board of Directors.

Dan Dimicco has been with Nucor for eighteen years, serving most recently as Executive Vice President. From 1991 to 1999, he was Vice President and General Manager of Nucor's successful joint venture, Nucor-Yamato Steel. From 1982 to 1991, he served in a series of increasing responsibilities at Nucor's important Plymouth, Utah, steel mill. Dan holds a BS degree from Brown University in metallurgy and materials science, and an MS in materials science from the University of Pennsylvania.

Peter C. Browning, age 59, has been elected Chairman of Nucor's Board of Directors, succeeding H. David Aycock. He has been a director of Nucor since 1999. Mr. Browning was President and Chief Executive Officer of Sonoco Products Company and was Chairman and Chief Executive Officer of National Gypsum Company. Mr. Browning also serves on the boards of Lowes Companies and Wachovia Corporation.

In announcing these changes, Nucor's Board of Directors recognizes the important and significant contributions David Aycock has made to Nucor. After eight years of retirement following his last position as President and COO, he returned to Nucor in 1999 to serve as Chairman and then Chairman and CEO. During this important period of transition for Nucor, among other things, he put in place a new board with a majority of outside directors; he identified and helped develop a number of senior level managers capable of leading the company, while implementing several growth initiatives and new technology joint ventures. Mr. Aycock, in retiring from his recent responsibilities, remains a member of Nucor's Board of Directors.

Nucor, the largest recycler in the united states, is a $4.7 billion diversified manufacturer of steel and steel products. Nucor has built its success on its unique combination of technology, growth and the dedication of its people.
SOURCE Nucor Corporation
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