Chicago, IL - March 7, 2002 - Contrary to some media reports, President Bush's proposed tariffs of up to 30% on steel imports will not affect the commercial building market. While the action may indeed result in higher prices on such products as cars and appliances, the hefty tariffs do not apply to structural steel, steel deck or steel joist.

   "President Bush's recommendations should have no affect on the price or
availability of structural steel in the United States," stated H. Louis
Gurthet, president of the American Institute of Steel Construction, Inc. 
   Bush's report to Congress does not recommend or impose tariffs on the
products that are used in the construction of steel-framed buildings-such
as wide flange members (sometimes referred to as I-beams), angles and
channels. In addition, the tariffs don't apply to steel decking products,
which are used as part of a floor or roof system, or for steel joists,
which are used to support floors and roofs. As a result, the imposed
tariffs will have no impact on the steel construction market. However, the
tariff situation may affect concrete construction prices, since Bush
recommended a 15% tariff on reinforcing bar-a key ingredient in concrete
construction.

   Currently, the mill price of structural steel is approximately the same as
it was 30 years ago-but with two important differences. Today's steel is
nearly 40% stronger. And, all domestically produced beams and columns are
manufactured almost exclusively from recycled material. (For more
information on steel recycling, please visit AISC Steel Fanatic.

   Steel availability is currently at excellent levels with an even rosier
future ahead with the anticipated start-up of another major domestic steel
mill. Steel Dynamics Inc. reported that they anticipate shipping beams and
columns beginning in May, joining the strong production of Nucor-Yamato
Steel and TXI-Chaparral. (For more information on steel production in the
United States, please visit nucoryamato  , chaparral or steeldynamics.

   OMED:This is a press release from a steel industry associaton.