May 2, 2005

Southwest Steel Labor Contract Signed.

Nick Onofrio

We are pleased to announce that Southwest Steel and GMP Local Union No. 284 have
agreed on a new three (3) year contract, effective May 1, 2005 thru April 27, 2008. The
vote by the members was overwhelming in favor of the agreement.

The management - employee relationship is continually becoming stronger. We feel
employee involvement, steady growth, steady jobs and continued plant improvement is
making Southwest Steel a better place to earn a living.

Everyone at Southwest Steel understands the importance of our customers. We will
continue to work together to meet or exceed your expectations. We appreciate your
support.