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 including aluminum Reliance Steel & Aluminum Co. (NYSE:RS) announced today thatit has reached an agreement to acquire the outstanding capitalstock of PNA Group Holding Corporation, a national steel servicecenter group owned by Platinum Equity. The transaction is valued atapproximately $1.1 billion. PNA ’ s subsidiaries include the operating entities Delta Steel, LP,Feralloy Corporation, Infra-Metals Co., Metals Supply Company,Ltd., Precision Flamecutting and Steel, LP and Sugar SteelCorporation. Through its subsidiaries, PNA processes anddistributes primarily carbon steel plate, bar, structural andflat-rolled products. 2007 and first quarter 2008 revenues for PNAwere about $1.6 billion and $474 million, respectively. PNA has 23steel service centers throughout the United States, as well as fivejoint ventures that operate a total of seven service centers in theUnited States and Mexico. The transaction is expected to be consummated within the next 60days, subject to the satisfaction of certain conditions, includingobtaining required regulatory approvals. Reliance expects tofinance the transaction, including the replacement of PNA ’ s existing debt, through a combination of borrowings under Reliance ’ s existing credit facility and by raising approximately $750million through the issuance of a combination of new debt andequity securities. “ The PNA operations complement our existing business and add newproducts in many geographic areas that further enhance thecustomer, product and geographic diversification of our business.Through the PNA joint ventures, we also gain entry into a newmarket for us in Mexico, ” said David H. Hannah, Chairman and Chief Executive Officer. Inregard to the financing, Hannah stated, “ We expect that this transaction, including the impact of theexpected financing, will be immediately accretive to our earnings,with the dilution from any new shares issued offset by the earningsfrom PNA and savings from our lower cost of capital. Additionally,we expect our balance sheet and liquidity to remain strong. ” Reliance Steel & Aluminum Co., headquartered in Los Angeles,California, is the largest metals service center company in theUnited States. Through a network of more than 180 locations in 37states and Belgium, Canada, China, South Korea and the UnitedKingdom, the Company provides value-added metals processingservices and distributes a full line of over 100,000 metalproducts. These products include galvanized, hot-rolled andcold-finished steel; stainless steel; aluminum; brass; copper;titanium and alloy steel sold to more than 125,000 customers invarious industries. Reliance Steel & Aluminum Co. ’ s press releases and additional information are available on theCompany ’ s web site at www.rsac.com . The Company was named to the 2007 “ Fortune 500 ” List and the Fortune 2007 “ 100 Fastest Growing Companies ” List and the Fortune 2008 List of “ America ’ s Most Admired Companies ” and the 2008 Forbes “ Platinum 400 List of America ’ s Best Big Companies. ” This release may contain forward-looking statements relating tofuture financial results and the proposed acquisition and relatedfinancing of PNA. Actual results and events may differ materiallyas a result of many factors over which Reliance Steel &Aluminum Co. has no control. These risk factors and additionalinformation are included in the Company ’ s Annual Report on Form 10-K for the year ended December 31, 2007and other reports Reliance Steel & Aluminum Co. has on filewith the Securities and Exchange Commission.