Exhibit 99.1

NEWS RELEASE

FOR IMMEDIATE RELEASE		CONTACT:		Kim P. Feazle
				Investor Relations
				(713) 610-9937
				(213) 576-2428
				kfeazle@rsac.com
				investor@rsac.com

RELIANCE STEEL & ALUMINUM CO. SIGNS AGREEMENT
TO ACQUIRE ENCORE GROUP

     Los Angeles, CA — December 28, 2006 — Reliance Steel & Aluminum Co. (NYSE:RS) announced today that it has reached an agreement to acquire the net assets and business of the Encore Group of metals service center companies (Encore Metals, Encore Metals (USA), Inc., Encore Coils, and Team Tube) headquartered in Edmonton, Alberta, Canada. Encore was organized in 2004 in connection with the buyout by management and a private equity fund managed by HSBC Capital (Canada) Inc. of certain former Corus CIC and Corus America businesses. Encore specializes in the processing and distribution of alloy and carbon bar and tube, as well as stainless steel sheet, plate and bar and carbon steel flat-rolled products, through its 17 facilities located mainly in Western Canada. Encore’s net sales for the twelve months ended December 31, 2005 were C$254.8 million. Current management is expected to remain in place. The transaction is expected to be finalized during the first quarter of 2007, subject to the completion of due diligence and regulatory approvals. Terms were not disclosed.

     Reliance Steel & Aluminum Co., headquartered in Los Angeles, California, is one of the largest metals service center companies in the United States. Through a network of more than 160 locations in 37 states and Belgium, Canada, China and South Korea, the Company provides value-added metals processing services and distributes a full line of over 90,000 metal products. These products include galvanized, hot-rolled and cold-finished steel; stainless steel; aluminum; brass; copper; titanium and alloy steel sold to more than 95,000 customers in various industries.

# # #

2-2-2

     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 2006 Fortune 100 Fastest Growing Companies List and the Forbes Platinum 400 List of America’s Best Big Companies.

     This release may contain forward-looking statements relating to future financial results. Actual results may differ materially as a result of factors over which Reliance Steel & Aluminum Co. has no control. These risk factors and additional information are included in the Company’s reports on file with the Securities and Exchange Commission.

# # #