FORT WAYNE, Ind., July 29 /EMWNews/ -- Steel Dynamics,

Inc. (Nasdaq: STLD) today announced that its Board of Directors has

approved an increase of 5 million shares to its existing share repurchase

program. With this increase, the Company now has the authority to

repurchase up to an additional 8.9 million shares. Since September 2004,

the Company has repurchased 46 million shares of its common stock.



    "We believe that this expansion of our share repurchase program speaks

to both management's and our board of directors' belief that, from time to

time, as and when market conditions undervalue our stock, one of the better

decisions that we can make to both demonstrate our confidence in the future

and to build shareholder value is to invest in our own shares," said Keith

Busse, Steel Dynamics Chairman and Chief Executive Officer. Busse also

expressed his belief that the Company should be able to pursue this

expanded share repurchase program without sacrifice to any of its facility

expansion, capital expenditure or growth plans.



    Under the Company's buyback program, purchases take place as and when

determined by the Company from time to time, in open market or private

transactions, including transactions that may be effected pursuant to Rule

10b5-1 of the Securities Exchange Act of 1934, as amended. Pursuant to this

program, purchases of shares of the Company's common stock are made based

upon the market price of the Company's stock, the nature of other

investment opportunities or growth projects presented to the Company, the

Company's cash flows from operations, and general economic conditions. The

share buyback program does not require the Company to acquire any specific

number of shares and may be modified, suspended, extended or terminated by

the Company at any time without prior notice.



    Forward-Looking Statements



    This press release contains forward-looking statements within the

meaning of the Private Securities Litigation Reform Act of 1995 including

statements regarding future earnings, the availability of the Company's

cash flows, debt capacity, long-term growth objectives, intention to

repurchase shares, and the source or availability of funding for the

Company's buyback program. These statements are not guarantees of future

performance and are subject to certain risks, uncertainties and other

factors, many of which are identified in the Company's Annual Report on

Form 10-K and most recent quarterly and periodic reports filed with the

Securities and Exchange Commission, and which could cause actual results to

differ materially from those which are anticipated. These reports are

available publicly on the SEC's Web site, http://www.sec.gov, and on the Company's

Web site, http://www.steeldynamics.com.



    Forward-looking or predictive statements we make reflect our beliefs as

of the date on which the statements were made based on our knowledge of our

businesses and the environment in which they operate as of such date. Due

to the foregoing risks and uncertainties, as well as other matters beyond

our control which can affect forward-looking statements, you are cautioned

not to place undue reliance on these predictive statements, which speak

only as of the date of this press release. We undertake no duty to update

or revise any forward-looking statement, whether as a result of new

information, future events or otherwise.