November 20, 2008

Reliance Steel gets requisite consents to amend indentures

Reliance Steel & Aluminum Co announced that it has received requisite consents to amend indentures of outstanding PNA Group Inc 10.75% Senior Notes due 2016 and PNA Intermediate Holding Corp Senior Floating Rate Toggle Notes due 2013. The tender offers will expire on August 1st 2008.

Upon acceptance by Reliance, pursuant to tender offers, Holders will be eligible to receive USD 1,205.75 per USD 1,000 principal amount, for Fixed Rate Notes and USD 1,020 per USD 1,000 principal amount, for Floating Rate Notes. The addition holders will also receive accrued and unpaid interest from last interest payment date to, but not including, settlement date for tender offers.