Reliance Steel & Aluminum Co. Announces the Receipt of the Requisite Consents in the Consent Solicitations for the PNA Group, Inc. 10.75% Senior Notes Due 2016 and the PNA Intermediate Holding Corporation Senior Floating Rate Toggle Notes Due 2013

LOS ANGELES–(EMWNews)–Reliance Steel & Aluminum Co. (NYSE:RS) announced today that it has

received the requisite consents to amend the indentures governing the

outstanding PNA Group, Inc. 10.75% Senior Notes due 2016 (the “Fixed

Rate Notes”) and the outstanding PNA

Intermediate Holding Corporation Senior Floating Rate Toggle Notes due

2013 (the “Floating Rate Notes,”

collectively the “Notes”).

The consents were obtained pursuant to consent solicitations conducted

concurrent with the previously announced cash tender offers to purchase

any and all of the Notes. The tender offers and consent solicitations

are being conducted in connection with Reliance’s

agreement to acquire the outstanding capital stock of PNA Group Holding

Corporation, a leading steel service center group and the parent company

of the issuers of the Notes (the “Acquisition”).

The completion of the tender offers and consent solicitations are not

conditions to completion of the Acquisition or the financing thereof.

As of the Consent Date, all the $250 million aggregate outstanding

principal amount of Fixed Rate Notes had been validly tendered and not

withdrawn pursuant to the tender offer therefore and all of the $170

million aggregate outstanding principal amount of Floating Rate Notes

had been validly tendered and not withdrawn pursuant to the tender offer

therefore. As a result, Reliance has received the requisite consents to

adopt the Proposed Amendments pursuant to the consent solicitations. The

Proposed Amendments will become operative in the event that the

Acquisition is consummated and Reliance accepts the Notes for payment

pursuant to the tender offers.

The tender offers will expire at 5:00 p.m., New York City time, on

August 1, 2008, unless extended or earlier terminated by Reliance (such

time and date, as the same may be extended or earlier terminated, the “Expiration

Date”). The Consent Date for the tender

offers and consent solicitations was 5:00 p.m., New York City time, on

July 15, 2008 and withdrawal rights terminated at such time. Upon

acceptance by Reliance of the Notes for payment pursuant to the tender

offers, Holders will be eligible to receive $1,205.75 per $1,000

principal amount, in the case of the Fixed Rate Notes, and $1,020 per

$1,000 principal amount, in the case of the Floating Rate Notes, in each

case plus accrued and unpaid interest from the last interest payment

date to, but not including, the settlement date for the tender offers.

The tender offers and the consent solicitations are made upon the terms

and subject to the conditions set forth in Reliance’s

Offer to Purchase and Consent Solicitation Statement dated July 1, 2008

(the “Offer to Purchase”)

and the related Letter of Transmittal and Consent. The tender offers and

the consent solicitations are subject to certain conditions, including

the closing of the Acquisition.

Citi has been retained to serve as the sole Dealer Manager for the

tender offers and the consent solicitations and can be contacted at

(800) 558-3745 (toll-free) and (212) 723-6106 (collect). Global

Bondholder Services Corporation is the Information Agent and the

Depositary for the tender offers and the consent solicitations and can

be contacted at (866) 807-2200 (toll-free) or (212) 430-3774 (collect).

Reliance Steel & Aluminum Co., headquartered in Los Angeles, California,

is the largest metals service center company in North America (United

States and Canada). Through a network of more than 180 locations in 37

states and Belgium, Canada, China, South Korea and the United Kingdom,

the Company provides value-added metals processing services and

distributes a full line of over 100,000 metal products to more than

125,000 customers in a broad range of industries.

Reliance Steel & Aluminum Co.’s press

releases and additional information are available on the Company’s

web site at www.rsac.com. The Company

was named to the 2008 “Fortune 500”

List and the Fortune 2008 List of “America’s

Most Admired Companies,” the 2008 Forbes “America’s

Best Managed Companies” List, and the

2008 Forbes “Platinum 400 List of

America’s Best Big Companies.”

This release may contain forward-looking statements. Actual results and

facts may differ materially as a result of a variety of factors, many of

which are outside of Reliance Steel & Aluminum Co.’s

control. Risk factors and additional information are included in

Reliance Steel & Aluminum Co.’s reports

on file with the Securities and Exchange Commission, including Reliance

Steel & Aluminum Co.’s Annual Report on

Form 10-K for the year ended December 31, 2007, and Quarterly Report on

Form 10-Q for the quarter ended March 31, 2008.

This release is for informational purposes only and is neither an offer

to purchase, a solicitation of an offer to sell the Notes nor a

recommendation regarding the tender offers and/or consent solicitations.

Holders should seek legal advice from an independent financial advisor

as to the suitability of the transactions described herein for the

individual concerned. The tender offers and the consent solicitations

are not being made to holders of the Notes in any jurisdiction in which

the making or acceptance thereof would not be in compliance with the

securities, blue sky or other laws of such jurisdiction. In any

jurisdiction in which the securities laws or blue sky laws require the

tender offers and the consent solicitations to be made by a licensed

broker or dealer, the tender offers and the consent solicitations will

be deemed to be made on behalf of Reliance by the Dealer Manager, or one

or more registered brokers or dealers that are licensed under the laws

of such jurisdiction.

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