Olympic Steel Announces Recipient of Chairman’s Humanitarian Award

Business Wire, June 02, 2009

CLEVELAND -- Olympic Steel, Inc. (Nasdaq: ZEUS) announced that Luther Newbill is the 2009 recipient of the Chairman’s Humanitarian Award. The award recognizes employees for extraordinary contributions to the community or for a special initiative, resourcefulness and courage in an emergency situation on or off the job. Mr. Newbill was presented with the award at a ceremony that took place on April 17, 2009 at Olympic Steel’s Corporate Office in Cleveland.

In 1987, Luther Newbill, a Leadman at the Company’s Cleveland Division, and his wife Victoria became foster parents impacting their lives and the lives of more than two dozen children. Now, over twenty-years later they have enriched their lives further by focusing their attention on a local Cleveland organization, Angel Tree (www.angeltree.org) that supports area children. Angel Tree’s mission is to provide fellowship to children whose parents are incarcerated.

Luther was nominated for this recognition by John Mooney, General Manager for the Cleveland Division who noted, “Luther has placed value on the children of the community and given them stability in their lives by providing a home, love and guidance.”

Founded in 1954, Olympic Steel is a leading U.S. steel service center focused on the direct sale and distribution of large volumes of processed carbon, coated and stainless flat-rolled sheet, coil and plate steel products. Headquartered in Cleveland, Ohio, the Company operates 16 facilities. For further information, visit the Company’s web site at http://www.olysteel.com.