Steel Technologies Shareholders Approve Merger with Mitsui

Steel Technologies Inc. announced that its shareholders, voting at the special meeting convened today, have approved the Company's proposed merger with Mitsui & Co. (U.S.A.), Inc., a wholly owned subsidiary of Mitsui & Co., Ltd. (TSE:8031). While this merger proposal has been approved by the U.S. regulatory authorities, completion of the merger remains subject to approval from Mexican regulatory authorities, which is expected within the next week, and customary closing conditions.

Under the terms of the merger agreement, Steel Technologies' shareholders will receive $30 per share in an all-cash transaction. The Company has appointed National City Bank, N.A. as paying agent for the merger consideration. National City Bank will contact shareholders directly with instructions and letter of transmittal forms for the surrender of stock certificates. Shareholders should not send forms and/or stock certificates to Steel Technologies, as this will only delay receipt of their cash payment. For more information concerning the process for obtaining payment for their shares, shareholders should contact National City Bank Shareholder Services at 1-800-622-6757.