EXHIBIT 99.1

Exhibit 99.1


Reliance Steel & Aluminum Co. Reports Record 2007 First Quarter Results


LOS ANGELES--(BUSINESS WIRE)--April 19, 2007--Reliance Steel &
Aluminum Co. (NYSE:RS) reported today its financial results for the
first quarter ended March 31, 2007. For the 2007 first quarter, net
income was a record $111.7 million, up 55% compared with net income of
$71.9 million for the 2006 first quarter. Earnings per diluted share
were a record $1.46 for the 2007 first quarter, compared with $1.07
for the 2006 first quarter. 2007 first quarter sales were $1.84
billion, an increase of 86% compared with 2006 first quarter sales of
$988 million. The 2007 first quarter financial results include in cost
of sales a pre-tax LIFO expense amount of $18.8 million, or $.15 per
diluted share, compared with a pre-tax LIFO expense amount of $5.0
million, or $.05 per diluted share in the 2006 first quarter. All
share and per share amounts have been adjusted for the two-for-one
common stock split effective July 19, 2006.

David H. Hannah, Chief Executive Officer of Reliance said, "We are
very pleased with our 2007 first quarter results. Overall, customer
demand was steady throughout the quarter at what we consider to be a
healthy level. Our first quarter performance, as compared to 2006, was
most significantly impacted by our 2006 and 2007 acquisitions that
represented over $750 million of revenue in the 2007 first quarter."

"During the quarter, we completed three acquisitions. They include
the Encore Group of metals service center companies (Encore Metals,
Encore Metals (USA), Inc., Encore Coils, and Team Tube in Canada)
headquartered in Edmonton, Alberta, Canada; Crest Steel Corporation, a
metals service center company headquartered in Carson, CA and
Industrial Metals and Surplus, Inc. a metals service center company
headquartered in Atlanta, GA and a related company, Athens Steel, Inc.
located in Athens, GA," Hannah said.

"We also managed our working capital well during the quarter that
ended with net debt-to-total capital at 40.6%. Operating cash flow was
strong at about $71 million, up 72% from the 2006 first quarter. In
April of 2007, we exchanged the $600 million of notes that were issued
in November of 2006 for publicly traded notes registered with the
Securities and Exchange Commission," added Hannah.

"We believe that our major markets including aerospace, energy,
non-residential construction, electronics and semiconductors, as well
as rail car and ship building will continue to grow, but at a slower
rate than in 2006. Additionally, we do not expect our costs and
pricing to change significantly as the year progresses. As a result,
we expect record sales and earnings in 2007 and currently estimate
earnings per diluted share for the 2007 second quarter in a range of
$1.45 to $1.55," Hannah concluded.

On February 14, 2007, the Board of Directors declared a 33%
increase in the regular quarterly cash dividend to $.08 per share of
common stock. The 2007 first quarter dividend was paid on March 30 to
shareholders of record March 9. The Company has paid regular quarterly
dividends for 47 consecutive years.

Reliance will host a conference call that will be broadcast live
over the Internet (listen only mode) regarding the first quarter
financial results for the period ended March 31, 2007. All interested
parties are invited to listen to the web cast on April 19, 2007 at
11:00 a.m. Eastern Time at: http://www.rsac.com/investorinformation or
http://www.streetevents.com. Player format: Windows Media. The web
cast will remain on the Reliance web site at: www.rsac.com through May
19, 2007 and a printed transcript will be posted on the Reliance web
site after the completion of the conference call.

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 180 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 100,000 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
125,000 customers in various 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 2007 List of "America's Most Admired
Companies" by Fortune and the 2007 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.



RELIANCE STEEL & ALUMINUM CO.
SELECTED FINANCIAL DATA
(In thousands, except share and per share amounts)

Three Months
Ended March 31,
--------------------------------
2007 2006
---------------- ---------------
Income Statement Data:
Net sales $ 1,841,890 $ 987,986
Gross profit 472,452 270,185
Operating profit(1) 200,844 122,114
EBITDA(2) 217,274 134,368
EBIT(2) 198,823 122,547
Pre-tax income 178,713 116,838
Net income 111,696 71,855
EPS - diluted(3) $ 1.46 $ 1.07
Weighted average shares outstanding -
Diluted(3) 76,452,752 67,196,664
Gross profit margin 25.7% 27.3%
Operating profit margin(1) 10.9% 12.4%
EBITDA margin(2) 11.8% 13.6%
EBIT margin(2) 10.8% 12.4%
Pre-tax margin 9.7% 11.8%
Net margin 6.1% 7.3%
Cash dividends per share(3) $ .08 $ .05

March 31, December 31,
2007 2006
---------------- ---------------
Balance Sheet and Other Data:
Current assets $ 1,952,602 $ 1,675,389
Working capital 1,255,382 1,124,650
Net fixed assets 758,318 742,672
Total assets 4,075,325 3,614,173
Current liabilities 697,220 550,739
Long-term debt(4) 1,304,632 1,088,051
Shareholders' equity 1,864,258 1,746,398
Capital expenditures (year-to-date) 24,730 108,742
Net debt-to-total capital(5) 40.6% 37.6%
Return on equity(6) 22.6% 27.3%
Current ratio 2.8 3.0
Book value per share(3) $ 24.53 $ 23.07
Cash flow from operations per
share(3), (7) $ 2.90 $ 2.59




(1) Operating profit is calculated as net sales less cost of sales,
warehouse, delivery, selling, general and administrative expenses
and depreciation expense.

(2) See Consolidated Statements of Income for reconciliation of EBIT
and EBITDA. EBIT is defined as the sum of income before interest
expense and income taxes. EBITDA is defined as the sum of income
before interest expense, income taxes, depreciation expense and
amortization of intangibles. We believe that EBIT and EBITDA are
commonly used as a measure of performance for companies in our
industry and are frequently used by analysts, investors, lenders
and other interested parties to evaluate a company's financial
performance and its ability to incur and service debt. EBIT and
EBITDA should not be considered as a measure of financial
performance under accounting principles generally accepted in the
United States. The items excluded from EBIT and EBITDA are
significant components in understanding and assessing financial
performance. EBIT or EBITDA should not be considered in isolation
or as an alternative to net income, cash flows generated by
operating, investing or financing activities or other financial
statement data presented in the consolidated financial statements
as an indicator of operating performance or as a measure of
liquidity.

(3) All periods have been adjusted to reflect the two-for-one stock
split effected in the form of a 100% stock dividend that was
declared on May 17, 2006 and distributed on July 19, 2006 to
shareholders of record on July 5, 2006.

(4) Long-term debt includes capital lease obligations of $5,004 and
$4,956 as of March 31, 2007 and December 31, 2006, respectively.

(5) Net debt-to-total capital is calculated as total debt (net of
cash) divided by shareholders' equity plus total debt (net of
cash).

(6) Calculations are based on the latest twelve months net income and
beginning shareholders' equity. The 2006 calculation adjusted
beginning shareholders' equity for $360.5 million of common stock
and stock options issued to fund an acquisition on April 3, 2006.

(7) Calculations are based on the latest twelve months.




RELIANCE STEEL & ALUMINUM CO.
CONSOLIDATED BALANCE SHEETS
(In thousands, except share amounts)

ASSETS
March 31, December 31,
2007 2006
---------------- ---------------
Current assets:
Cash and cash equivalents $ 28,578 $ 57,475
Accounts receivable, less allowance
for doubtful accounts of $20,010
at March 31, 2007 and $16,755 at
December 31, 2006 835,204 666,273
Inventories 1,063,840 904,318
Prepaid expenses and other current
assets 24,980 22,179
Income taxes receivable -- 25,144
---------------- ---------------
Total current assets 1,952,602 1,675,389
Property, plant and equipment, at
cost:
Land 108,994 108,022
Buildings 396,412 385,851
Machinery and equipment 586,100 565,951
Accumulated depreciation (333,188) (317,152)
---------------- ---------------
758,318 742,672

Goodwill 932,281 784,871
Intangible assets, net 371,061 354,195
Cash surrender value of life
insurance policies, net 44,162 41,190
Other assets 16,901 15,856
---------------- ---------------
Total assets $ 4,075,325 $ 3,614,173
================ ===============

LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities:
Accounts payable $ 445,002 $ 340,356
Accrued expenses 58,662 36,481
Accrued compensation and retirement
costs 63,613 92,905
Accrued insurance costs 36,673 34,475
Income taxes payable 36,741 --
Deferred income taxes 23,707 23,706
Current maturities of long-term
debt 32,257 22,257
Current maturities of capital
leases 565 559
---------------- ---------------
Total current liabilities 697,220 550,739
Long-term debt 1,266,806 1,083,095
Capital lease obligations 5,004 4,956
Long-term retirement costs and other
long-term liabilities 52,233 46,111
Deferred income taxes 188,468 181,628
Minority interest 1,336 1,246
Commitments and contingencies -- --
Shareholders' equity:
Preferred stock, no par value:
Authorized shares -- 5,000,000
None issued or outstanding -- --
Common stock, no par value:
Authorized shares -- 100,000,000
Issued and outstanding shares --
76,005,439 at March 31, 2007 and
75,702,046 at December 31, 2006,
respectively, stated capital 709,122 701,690
Retained earnings 1,154,352 1,046,339
Accumulated other comprehensive
income/(loss) 784 (1,631)
---------------- ---------------
Total shareholders' equity 1,864,258 1,746,398
---------------- ---------------
Total liabilities and shareholders'
equity $ 4,075,325 $ 3,614,173
================ ===============




RELIANCE STEEL & ALUMINUM CO.
CONSOLIDATED STATEMENTS OF INCOME
(In thousands, except share and per share amounts)

Three Months
Ended March 31,
--------------------------------
2007 2006
---------------- ---------------
Net sales $ 1,841,890 $ 987,986
Other income, net 374 1,278
---------------- ---------------
1,842,264 989,264
Costs and expenses:
Cost of sales (exclusive of
depreciation and amortization
shown below) 1,369,438 717,801
Warehouse, delivery, selling,
general and administrative 255,552 137,095
Depreciation and amortization 18,451 11,821
Interest expense 20,110 5,709
---------------- ---------------
1,663,551 872,426

---------------- ---------------
Income from continuing operations
before income taxes 178,713 116,838
Provision for income taxes 67,017 44,983
---------------- ---------------
Net income $ 111,696 $ 71,855
================ ===============

Earnings per share:
Income from continuing operations -
diluted $ 1.46 $ 1.07
================ ===============
Weighted average shares outstanding -
diluted 76,452,752 67,196,664
================ ===============

Income from continuing operations -
basic $ 1.47 $ 1.08
================ ===============
Weighted average shares outstanding -
basic 75,862,219 66,279,524
================ ===============

Cash dividends per share $ .08 $ .05
================ ===============


Reconciliation of EBIT and EBITDA

Income from continuing operations
before income taxes $ 178,713 $ 116,838
Interest expense 20,110 5,709
---------------- ---------------
EBIT 198,823 122,547
---------------- ---------------
Depreciation expense 16,147 11,023
Amortization expense 2,304 798
---------------- ---------------
EBITDA $ 217,274 $ 134,368
================ ===============




RELIANCE STEEL & ALUMINUM CO.
CONSOLIDATED STATEMENTS OF CASH FLOWS
(In thousands)

Three Months Ended
March 31,
--------------------------------
2007 2006
---------------- ---------------
Operating activities:
Net income $ 111,696 $ 71,855
Adjustments to reconcile net income
to net cash provided by operating
activities:
Depreciation and amortization 18,451 11,821
Deferred income taxes (238) (436)
Gain on sales of property and
equipment (591) (527)
Minority interest 90 47
Stock based compensation expense 1,812 1,132
Excess tax benefits from stock
based compensation (2,390) (963)
Increase in cash surrender value
of life insurance policies (118) --
Changes in operating assets and
liabilities (excluding effect of
businesses acquired):
Accounts receivable (113,562) (66,261)
Inventories (61,299) (53,935)
Prepaid expenses and other
assets (1,335) (2,180)
Accounts payable and accrued
expenses 118,253 80,486
---------------- ---------------
Net cash provided by operating
activities 70,769 41,039

Investing activities:
Purchases of property, plant and
equipment, net (24,730) (26,109)
Acquisitions of metals service
centers and net asset purchases of
metals service centers, net of
cash acquired (217,348) (34,826)
Proceeds from sales of property and
equipment 823 1,678
Net investment in life insurance
policies (64) --
---------------- ---------------
Net cash used in investing activities (241,319) (59,257)

Financing activities:
Proceeds from borrowings 450,375 170,000
Principal payments on long-term
debt and short-term borrowings (310,610) (150,457)
Payments to former minority
shareholders -- (1,291)
Dividends paid (6,073) (3,316)
Excess tax benefits from stock
based compensation 2,390 963
Exercise of stock options 5,339 1,236
Issuance of common stock 281 222
---------------- ---------------
Net cash provided by financing
activities 141,702 17,357
Effect of exchange rate changes on
cash (49) 298
---------------- ---------------
Increase in cash and cash equivalents (28,897) (563)
Cash and cash equivalents at
beginning of period 57,475 35,022
---------------- ---------------
Cash and cash equivalents at end of
period $ 28,578 $ 34,459
================ ===============

Supplemental cash flow information:
Interest paid during the period $ 5,304 $ 4,112
Income taxes paid during the period $ 2,514 $ 5,427



CONTACT: Reliance Steel & Aluminum Co.
Kim P. Feazle, Investor Relations
(713) 610-9937
(213) 576-2428
kfeazle@rsac.com
investor@rsac.com