Oct. 31, 2006 — Steel Dynamics’ Board of Directors has approved a two-for-one split of the company's common stock, which will be achieved in the form of a 100% stock dividend.

The Board of Directors also authorized a two-for-one split of the company's total authorized common shares, from 100 million to 200 million shares, and the company's Articles of Incorporation will be amended to reflect that change. Under Indiana law, no shareholder approval is required to effect this transaction.

Common shareholders of record at the close of business on November 9, 2006, will receive one additional share of common stock for each share of common stock owned as of that date. The company says it expects to distribute the additional shares on or about November 20, 2006.

"This action by the Board is a clear indication of the confidence we have in our ability to continue driving growth and creating value for our shareholders by capitalizing on the exciting opportunities—both short- and long-term—that lie ahead," said Keith Busse, President and CEO of Steel Dynamics. "The split will make Steel Dynamics common stock more widely available to a larger pool of investors, including our current shareholders and employees."

All future transactions measured by reference to a specific number of common shares, such as outstanding stock options, securities convertible into common shares, the payment of dividends, shares authorized by existing share repurchase programs, as well as the related option, conversion or dividend prices or amounts will be adjusted to reflect the two-for-one split.