Steel Technologies Inc. Declares Semiannual Dividend of $0.08 Per Share

Business Wire, April 26, 2002

Business Editors

LOUISVILLE, Ky.--(BUSINESS WIRE)--April 26, 2002

Steel Technologies Inc. (Nasdaq/NM:STTX) today announced that its Board of Directors has declared a semiannual cash dividend of $0.08 per share. The dividend is payable on May 28, 2002, to shareholders of record as of May 13, 2002.

Steel Technologies processes flat-rolled steel to specified thickness, width, temper, finish and shape requirements for automotive, appliance, lawn and garden, agricultural, recreational, office equipment and railcar industries among others. The Company operates 15 production facilities located throughout the United States and Mexico, including two at Mi-Tech Steel, Inc. More information about the Company may be found on the World Wide Web at www.steeltechnologies.com. For the most recent fiscal year ended September 30, 2001, Steel Technologies reported sales of $437 million and net income (excluding asset impairment charges) of $7.7 million or $0.75 per diluted share.

Statements contained in this release, which are not historical facts, are forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are subject to risks and uncertainties (contained in the Company's SEC filings), which could cause actual results to differ materially from those projected. SEC filings may be obtained from the SEC or by contacting the Company.