Maverick Tube Corp. and its Canadian subsidiary, Maverick Tube (Canada) Inc., announced that the board of directors of Maverick Canada has selected September 30, 2005 as the Automatic Redemption Date for the exchangeable shares of Maverick Canada.

The exchangeable shares of Maverick Canada had been issued in conjunction with Maverick's acquisition of Prudential Steel Ltd. in 2000. The shares will be exchanged for common shares of Maverick on a one-for-one basis on September 30, 2005. Under the exchangeable share provisions Maverick has the right, which right has been exercised, to acquire the remaining exchangeable shares.

Of the original 15.8 million exchangeable shares of Maverick Canada issued, approximately 1.3 million shares remain outstanding. For financial reporting purposes, the exchangeable shares of Maverick Canada are already included in Maverick's outstanding share count. Therefore, no change in the number of shares of common stock outstanding will result from the exchange. A notice providing further details will be mailed to the holders of exchangeable shares of Maverick Canada.

Maverick Tube Corp. is a St. Louis, Missouri, based manufacturer of tubular products 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.