Maverick Tube Corp. announced the successful completion of its acquisitions of Tubos del Caribe SA, substantially all of the equity interests in Consorcio Metalurgico Nacional SA, and Advance Corp. on Friday May 27, 2005.

C. Robert Bunch, Chairman and CEO of Maverick, commented, "We are pleased to welcome all the customers and employees of Tubos del Caribe, Colmena, and Advance to the Maverick family. The senior management team remains in place and is headed by Rafael del Castillo, who brings 17 years of experience with Tubos del Caribe." Mr. Bunch continued, "These acquisitions are an important step toward our goal of expanding Maverick's businesses around the world, while making us more competitive in our North American markets."

Maverick has entered a new $325 million revolving credit agreement with J.P. Morgan Chase Bank, NA. A portion of the proceeds of the loan will be used to fund the acquisition, with the balance going toward funding operations and future growth. This facility replaces the company's existing $185 million revolving credit facility led by J.P. Morgan Chase Bank, NA. The transaction closed on Friday, May 27, 2005 in the U.S. and on Monday, May 30, 2005 in Canada.

The five-year deal has a $125 million accordion feature to provide maximum borrowings of $450 million at Maverick's option. Initial pricing is based on Libor plus 150 basis points.

Maverick Tube Corp. is a St. Louis, Missouri, based manufacturer of tubular products used in the energy industry for exploration, production, and transmission, as well as industrial tubing products (steel electrical conduit, HSS, standard pipe, pipe piling, and mechanical tubing) used in various applications.