July 20, 2006 — Commercial Metals Co.’s board of directors has authorized the purchase of up to 5,000,000 shares of the company's common stock.

During June and July 2006, CMC purchased a total of 1,811,000 shares in open market transactions for a total price of approximately $41,740,277 (an average of $23.05 per share). These purchases completed a stock repurchase program last increased in May 2005. At present, there are approximately 119,110,187 shares of Commercial Metals Co.'s common stock issued and outstanding.

CMC Chairman and CEO Stanley A. Rabin said, "Our view is that the stock is undervalued. This action will continue to add value for our stockholders."

CMC says that purchases will be made from time to time in the open market or in privately negotiated transactions at prevailing market prices. The shares will be used for general corporate purposes including various employee benefit plans and acquisitions.

Commercial Metals Co. and subsidiaries manufacture, recycle and market steel and metal products, related materials and services through a network including steel minimills, steel fabrication and processing plants, construction-related product warehouses, a copper tube mill, metal recycling facilities and marketing and distribution offices in the United States and in strategic overseas markets.