FIRST AMENDMENT TO
                              AMENDED AND RESTATED
                           EWP BRIDGE LOAN AGREEMENT


     THIS  FIRST   AMENDMENT  TO  AMENDED  AND  RESTATED  LOAN   AGREEMENT  (the
"Amendment")  is made and  entered  into as of the 18 day of March,  2002 by and
between  KEYSTONE  CONSOLIDATED  INDUSTRIES,  INC., a Delaware  corporation (the
"Company"),  and the lenders listed in Annex I hereto  (individually  a "Lender"
and collectively, the "Lenders").

                                    Recitals:

     WHEREAS, the Company and the Lenders,  among others, have entered into that
certain  Amended and Restated EWP Bridge Loan Agreement dated as of November 21,
2001 (the "Loan Agreement");

     WHEREAS,  the Company and the Lenders  wish to amend the Loan  Agreement as
provided herein; and

     WHEREAS, capitalized terms used but not otherwise defined herein shall have
the same meanings given to such terms in the Loan Agreement.

     NOW, THEREFORE,  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 Loan  Agreement  is hereby
amended as follows:

          (a)  Section  3.3 of the Loan  Agreement  shall be amended by deleting
     such section in its entirety and replacing it 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
         December 31, 2002 (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."

          (b) Section 6.2(c) of the Loan Agreement  shall be amended by deleting
     such section in its entirety and replacing it with the following:

          "(c)  Limitations  on  Indebtedness.  Become or remain  obligated,  or
     suffer or permit  any  Subsidiary  to become or remain  obligated,  for any
     Indebtedness, except:

               (i) Existing Indebtedness as set forth on Schedule 6.2(c) hereto;

               (ii) Indebtedness arising pursuant to this Agreement; and

               (iii) Indebtedness  arising in connection with, and as a part of,
          the Restructuring."

     SECTION 2. Effect on Loan Agreement and Notes.  Upon the  effectiveness  of
this Amendment,  all Notes 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>


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

                                 THE COMPANY:

                                 KEYSTONE CONSOLIDATED INDUSTRIES, INC.


                                 By:
                                    -------------------------------------------
                                 Name:
                                    -------------------------------------------
                                 Title:
                                    -------------------------------------------



                                 THE LENDERS:

                                 EWP FINANCIAL LLC


                                 By:
                                    -------------------------------------------
                                 Name:
                                    -------------------------------------------
                                 Title:
                                    -------------------------------------------






















<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 1740
                                    Dallas, Texas  75240


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