Reliance Steel & Aluminum Co. Declares 2008 Fourth Quarter Dividend Payment

LOS ANGELES--(BUSINESS WIRE)--

Reliance Steel & Aluminum Co. (NYSE:RS) announced today that on October 15, 2008, its Board of Directors declared a regular quarterly cash dividend of $.10 per share of common stock. The dividend is payable on January 5, 2009 to shareholders of record December 5, 2008. The Company has paid regular quarterly dividend payments for 48 consecutive years.

On October 16, 2008, Reliance reported results for the third quarter ended September 30, 2008. Sales were a record $2.6 billion, up 42% and net income was $152.5 million, up 63% and earnings per diluted share were $2.07, up 70% compared to the 2007 third quarter.

Reliance Steel & Aluminum Co., headquartered in Los Angeles, California, is the largest metals service center company in North America. Through a network of more than 200 locations in 39 states and Belgium, Canada, China, Mexico, Singapore, South Korea and the United Kingdom, the Company provides value-added metals processing services and distributes a full line of over 100,000 metal products to more than 125,000 customers in a broad range of industries. Reliance Steel & Aluminum Co.'s press releases and additional information are available on the Company's web site at www.rsac.com. The Company was named to the 2008 "Fortune 500" List, the Fortune 2008 List of "America's Most Admired Companies," the 2008 Forbes "America's Best Managed Companies" List, the 2008 Forbes "Platinum 400 List of America's Best Big Companies" and the 2008 Fortune "100 Fastest Growing Companies" List.

This release may contain forward-looking statements. Actual results and events may differ materially as a result of a variety of factors, many of which are outside of Reliance Steel & Aluminum Co.'s control. Risk factors and additional information are included in Reliance Steel & Aluminum Co.'s reports on file with the Securities and Exchange Commission, including Reliance Steel & Aluminum Co.'s Annual Report on Form 10-K for the year ended December 31, 2007, and Quarterly Reports on Form 10-Q for the quarters ended March 31, 2008, June 30, 2008 and September 30, 2008.

Source: Reliance Steel & Aluminum Co.

Released October 21, 2008