Reliance Steel & Aluminum Co. Declares 1998 Third-Quarter Dividend Payment

Business Wire, August 28, 1998

LOS ANGELES--(BUSINESS WIRE)--Aug. 28, 1998--Reliance Steel & Aluminum Co. (NYSE:RS) Friday announced that its board of directors has declared a regular quarterly cash dividend of $.06 per share of common stock, payable on Sept. 15, 1998, to shareholders of record Sept. 8, 1998.

Reliance has paid quarterly dividends for 38 consecutive years.

Reliance Steel & Aluminum, with headquarters in Los Angeles, is one of the largest metals service center companies in the United States. Through a network of 62 processing and distribution centers (including American Steel L.L.C.) in 20 states, the company provides value-added metals processing services and distributes a full line of more than 60,000 metal products. These products include galvanized, hot-rolled and cold-finished steel; stainless steel; aluminum; brass; copper and alloy steel to more than 40,000 customers in various industries.

CONTACT: Reliance Steel & Aluminum Co., Los Angeles

David H. Hannah, 213/582-2272

or

Hill and Knowlton Inc.

Kim P. Feazle, 713/752-1927