SEVENTH AMENDMENT TO
                              AMENDED AND RESTATED
                            EWP BRIDGE LOAN AGREEMENT

     This  SEVENTH  AMENDMENT  TO AMENDED  AND  RESTATED  LOAN  AGREEMENT  (this
"Amendment")  is made and entered into as of October 31, 2003  between  KEYSTONE
CONSOLIDATED  INDUSTRIES,  INC., a Delaware  corporation  ("Keystone"),  and the
lenders listed in Annex I hereto (individually a "Lender" and collectively,  the
"Lenders").

                                    Recitals

     A.  Keystone and the Lenders  have  entered  into that certain  Amended and
Restated EWP Bridge Loan  Agreement  dated as of November 1, 2001, as amended by
the First  Amendment to Amended and Restated EWP Bridge Loan Agreement  dated as
of March 18, 2002  between  Keystone and the  Lenders,  the Second  Amendment to
Amended and  Restated  EWP Bridge Loan  Agreement  dated as of December 31, 2002
between  Keystone and the Lenders,  the Third  Amendment to Amended and Restated
EWP Bridge Loan  Agreement  dated as of June 30, 2003  between  Keystone and the
Lenders,  the Fourth Amendment to Amended and Restated EWP Bridge Loan Agreement
dated as of July 31, 2003 between Keystone and the Lenders,  the Fifth Amendment
to Amended and  Restated EWP Bridge Loan  Agreement  dated as of August 27, 2003
between  Keystone and the Lenders and as further  amended by the Sixth Amendment
to Amended and Restated EWP Bridge Loan Agreement dated as of September 30, 2003
between Keystone and the Lenders (collectively, the "Loan Agreement").

     B. Keystone has requested that the Lenders provide an extension to the Loan
Agreement  and  Keystone the ability to request and receive  standby  letters of
credit against the available loan commitment under the Loan Agreement.

     C.  Keystone and the Lenders  wish to amend the Loan  Agreement as provided
herein.

     D. Capitalized  terms used but not otherwise  defined herein shall have the
same meanings given to such terms in the Loan Agreement.

                                    Agreement

     In  consideration  of the foregoing and the mutual covenants and agreements
herein, the parties hereto do hereby agree as follows.

     Section 1.  Amendments to Loan Agreement.  The following  amendments to the
Loan Agreement are hereby effective as of the date of this Amendment.

          (a) A new  Section 2.4 is added to the Loan  Agreement  to read in its
     entirety as follows.

               2.4 Letters of Credit.

                    (a)  Commitment.  Upon the written  application of
               the Company and such terms and  conditions as the Agent
               may reasonably require, Agent will issue, until 15 days
               prior to the Maturity Date,  standby  letters of credit
               to  beneficiaries  designated  by the Company for terms
               that  expire  no later  than  the  Maturity  Date.  The
               Company will pay a letter of credit fee associated with
               issuance of the letters of credit, payable quarterly in
               arrears,  equal  to 3%  per  annum  multiplied  by  the
               undrawn amount of outstanding  letters of credit during
               the preceding quarter on a prorated basis.

                    (b)  Participation.   Each  of  the  Lenders  will
               participate,   in   accordance   with  its   Commitment
               percentage  set  forth  in  Annex  1  (the  "Commitment
               Percentage"),  in the  Agent's  risks  and  obligations
               under  such  letters  of  credit  and in the  Company's
               obligations for immediate  reimbursement  of the amount
               of  any  drawings  made  by  the  beneficiaries  (which
               includes  successors and transferees)  under any letter
               of  credit.  This  participation  will be as a  primary
               obligor to Agent and not as a surety  for the  Company.
               Each of the  Lenders  will pay to Agent  such  Lender's
               Commitment  Percentage  of any  drawing  made under any
               letter of credit  within 24 hours of  receipt of notice
               from Agent of such drawing  regardless of the existence
               of an Event  of  Default,  or any  offset,  defense  or
               counterclaim of the Company.

                    (c) Reduction in Availability.  Upon issuance of a
               letter of credit under this Section,  the amount of the
               total  Commitments under this Agreement will be reduced
               in an  equivalent  amount,  but  no  interest  or  fees
               (except  Agent's letter of credit fees) will be payable
               on such  amount  until a drawing is made on such letter
               of credit.

                    (d) Reimbursement. The Company promises and agrees
               to  immediately  reimburse  Agent for the amount of any
               drawing  made by any  beneficiary  under any  letter of
               credit issued by Agent upon the  application  hereunder
               of the Company without offset, defense, or counterclaim
               against Agent other than payment  resulting  from gross
               negligence  of Agent and without  regard to any claims,
               offsets,  defenses,  or counterclaims  that the Company
               has or may claim to have  against its  liability to the
               beneficiary of such letter of credit. If not reimbursed
               on the same Business Day and if the Company is not then
               insolvent or the subject of any insolvency  proceeding,
               the amount so paid by Agent will be deemed to be a Loan
               in that  amount to the  Company as of the date when the
               draw is paid and will bear  interest as provided for in
               this Agreement.

          (b) Section  3.3 of the Loan  Agreement  is amended by  deleting  such
     section  in  its  entirety  and  replacing  it in  its  entirety  with  the
     following.

          3.3. Maturity Date. Unless the same shall become due earlier
     as a result of  acceleration  of the  maturity,  the Loans  shall
     mature on November 30, 2003 (the "Maturity  Date"), at which time
     the  outstanding  principal  balance of the Loans and all accrued
     and unpaid  interest  and  commitment  fees shall  become due and
     payable.

     Section 2. Effect on Loan Agreement and Notes.  Upon the  effectiveness  of
this Amendment, all Notes or outstanding immediately prior to such effectiveness
shall be deemed  amended as  necessary or  appropriate  to reflect the terms and
conditions set forth in the Loan Agreement as modified by this Amendment, and in
the event of a conflict between any term or condition of such Notes and the Loan
Agreement  as so modified,  the Loan  Agreement  as so modified  shall  control,
notwithstanding  any  provision  of such  Notes  or the  Loan  Agreement  to the
contrary.  Except as modified by this  Amendment,  the Loan  Agreement  and such
Notes  are in  all  respects  ratified  and  confirmed  and  all  of the  terms,
conditions and provisions thereof shall remain in full force and effect.

     Section 3. Governing Law. This Amendment shall be governed by and construed
in accordance  with the laws of the state of Texas without  giving effect to any
choice or conflict of law  provision  or rule  (whether of the state of Texas or
any other  jurisdiction)  that would  cause the  application  of the laws of any
jurisdiction other than the state of Texas.

     Section 4. Headings.  The section headings  contained in this Amendment are
for  reference  purposes  only and will not  affect  in any way the  meaning  or
interpretation of this Amendment.

     Section  5.  Counterparts;  Facsimile.  This  Amendment  may be  separately
executed  in  counterparts  and by the  different  parties  hereto  in  separate
counterparts,  each of which when so executed  shall be deemed to constitute one
and the same Amendment. This Amendment when executed may be validly delivered by
facsimile or other electronic transmission.

     Section  6.  Severability.   Any  provision  of  this  Amendment  which  is
prohibited or unenforceable in any jurisdiction,  shall as to such jurisdiction,
be ineffective to the extent of such  prohibition  or  unenforceability  without
invalidating  the  remaining  provisions  hereof or  affecting  the  validity or
enforceability of such provision in any other jurisdiction.

                  [Remainder of page intentionally left blank.
                            Signature page follows.]



<PAGE>


     The  parties  hereto  have  caused  this  Amendment  to be  executed by the
undersigned thereunto duly authorized as of the date first written above.

                                    KEYSTONE:

                     KEYSTONE CONSOLIDATED INDUSTRIES, INC.




                               By:
                                  ---------------------------------------------
                                  Bert  E.  Downing,   Jr.
                                  Vice   President,   Chief
                                  Financial   Officer,
                                  Corporate   Controller   and Treasurer




                                  THE LENDERS:

                                EWP FINANCIAL LLC




                               By:
                                  ---------------------------------------------
                                  Bobby D. O'Brien
                                  Vice  President,  Chief Financial
                                  Officer and Treasurer



<PAGE>







<TABLE>
<CAPTION>
                                                      ANNEX I



                                                                                                  % of Total
       Name of Lender                 Address of Lender               Commitment                   Commitment

<S>                             <C>                                    <C>                            <C>
EWP Financial LLC               Three Lincoln Centre                   $6,000,000                     100%
                                5430 LBJ Freeway
                                Suite 1700
                                Dallas, Texas   75240


Total Commitment Amount:................................               $6,000,000
</TABLE>