Sep. 27, 2006 — Reliance Steel & Aluminum Co. is updating its guidance regarding the company’s earnings estimates for the third quarter ended September 30, 2006. Reliance currently expects earnings to be in the range of $1.35 to $1.40 per diluted share. Wall Street analysts’ earnings estimates for Reliance’s 2006 third quarter are currently averaging $1.24 per diluted share.

Reliance’s CEO, David H. Hannah, said, “In our July 20, 2006 second quarter press release we included an estimate for our 2006 third quarter earnings of $1.15 to $1.20 per diluted share. We are experiencing stronger than expected business conditions in addition to the positive contribution of our most recent acquisition, Yarde Metals, completed on August 1, 2006, that was not included in our guidance for the third quarter. The improved business conditions have also resulted in a higher estimated LIFO charge for the second half of 2006 than we had previously anticipated, mainly related to increased costs and prices for the products we sell to the aerospace and energy industries. As a result, we have updated our earnings guidance to reflect our current expectations.”

If Reliance achieves its anticipated earnings of $1.35 to $1.40 per diluted share, it would be the company’s fourth consecutive quarter of record earnings.

Headquartered in Los Angeles, Calif., Reliance Steel & Aluminum Co. 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.