Jan. 5, 2007 — Reliance Steel & Aluminum Co. has completed its previously disclosed acquisition of Crest Steel Corp., a metals service center company headquartered in Carson, Calif. Terms of the deal were not disclosed.

Crest will operate as a wholly owned subsidiary of Reliance. Current management will remain in place except for Phil Steinberg, the founder and former Chairman of Crest, who will continue as a director and remain as a consultant to the company through a transition period.

“Our whole team is excited about being a part of Reliance,” said Randall Putnam, President and Chief Operating Officer of Crest, “and we are looking forward to the opportunities and the bright future ahead of us.”

“We believe that Crest’s reputation in the industry and its strong management team provide a solid foundation to continue to grow the company successfully going forward,” said Reliance’s CEO, David H. Hannah.

Reliance says the all-cash transaction will be immediately accretive to the company’s earnings.

Headquartered in Los Angeles, Calif., Reliance Steel & Aluminum is one of the largest metals service center companies in the United States. Through a network of more than 160 locations in 37 states and Belgium, Canada, China and South Korea, the company provides value-added metals processing services and distributes a full line of over 90,000 metal products. These products include galvanized, hot-rolled and cold-finished steel, stainless steel, aluminum, brass, copper, titanium and alloy steel sold to more than 95,000 customers in various industries.

Founded in 1963, Crest has facilities in Riverside, Calif., and Phoenix, Ariz., and specializes in the processing and distribution of carbon steel products including flat-rolled, plate, bars and structurals. Crest’s net sales for the 2005 fiscal year were approximately $129 million.

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