California Steel Industries, Inc. has extended the expiration date for the exchange offer to exchange its 6 1/8% Senior Notes due 2014 issued on March 22, 2004 ($150,000,000 aggregate principal amount outstanding) for 6 1/8% Senior Notes due 2014. Although the original notes had not been registered under the Securities Act of 1933, the exchange notes are registered under the Securities Act of 1933.

Originally scheduled to expire on Friday, June 18, 2004, the exchange offer has been extended to 5:00 p.m., New York City time, on Wednesday, June 23, 2004.

Holders who validly tender their unregistered notes by the Extended Expiration Date will receive exchange notes, the terms of which are substantially similar to the terms of the unregistered notes. The sole difference is that the exchange notes have been registered under the Securities Act of 1933, and, therefore, the certificates for the exchange notes will not bear legends restricting their transfer.

The exchange offer is subject to the satisfaction of certain conditions as described in the Company's Offer to Exchange and Prospectus dated May 18, 2004. Copies of the Offer may be obtained from U.S. Bank, the exchange agent for the offer. Questions regarding the exchange offer may be directed to U.S. Bank, Corporate Trust Services, at (213) 615-6023.

California Steel Industries is the leading producer of flat rolled steel products in the western United States (the 11 states located west of the Rocky Mountains) based on tonnage billed, with a broad range of products, including hot rolled, cold rolled, galvanized coil and sheet and electric resistant weld pipe.