Ryerson Tull, Inc. has completed its previously announced offering of $150 million aggregate principal amount of 8¼% senior notes due 2011.

The notes will pay interest semi-annually and will be guaranteed by one of the company's subsidiaries, Ryerson Tull Procurement Corp., on a senior unsecured basis. The company intends to use net proceeds to repay borrowings under its revolving credit facility.

Sold only to qualified institutional buyers and persons outside the United States in compliance with Rule 144A and Regulation s under the Securities Act of 1933, the notes and the subsidiary guarantee will not be registered under the Securities Act or any state securities laws. Unless registered, they may not be offered or sold in the United States except pursuant to an exemption from the registration requirements of the Securities Act and applicable state securities laws. The company cautions that this announcement does not constitute an offer, offer to sell, or solicitation of an offer to buy any securities.

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.