Initial purchasers have exercised the $30 million option granted to them in connection with Ryerson Tull Inc.'s offering of 3.50% Convertible Senior Notes due 2024, bringing the total aggregate principal amount of notes sold to $175 million. The offering closed on November 10, 2004.

The company cautions that this announcement is neither an offer to sell nor a solicitation of an offer to buy any of these securities and shall not constitute an offer, solicitation of sale in any jurisdiction in which such offer, solicitation or sale is unlawful.

The notes, the subsidiary guarantee and the common stock issuable upon conversion will not be registered under the Securities Act of 1933, or any state securities laws, and unless so registered, may not be offered or sold in the United States except pursuant to an exemption from the registration requirements of the Securities Act of 1933 and applicable state laws.

Ryerson Tull, Inc. is a leading North American distributor and processor of metals, with 2003 revenues of $2.2 billion. The company services customers through a network of service centers across the United States and in Canada, Mexico, and India.