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Schnitzer Steel's Auto Parts Business Named ''Recycler of the Year'' by Steel Manufacturers Association

The Commonwealth of Virginia Also Recognizes the Company's Environmental Stewardship
PORTLAND, Ore., May 12, 2008 (BUSINESS WIRE) -- Across the nation, millions of end-of-life or damaged automobiles are recycled each year by auto dismantlers. A number of these vehicles contain mercury switches, which -- if left in place -- have the potential to release harmful mercury into the environment when the automobiles are processed into scrap metal. As recognition for the Company's leadership in recycling and mercury switch removal, the Steel Manufacturers Association (SMA) recently named Schnitzer Steel's two auto parts businesses as "Recycler of the Year." The award will be formally presented during SMA's Annual Members Meeting in Washington, D.C. on May 20, 2008.

Schnitzer Steel Industries, Inc. (Nasdaq: SCHN) annually recycles approximately 300,000 end-of-life vehicles through its Pick-n-Pull and GreenLeaf Auto Recyclers businesses, which are part of its Auto Parts Business (APB). These businesses, which include 53 self-service and full-service auto parts stores across the United States and Canada, purchase vehicles and offer recycled auto parts to consumers and businesses.

Through carefully designed processes and the dedication of its employees to protecting the environment, Pick-n-Pull and GreenLeaf have become a leader in mercury switch recycling within the automobile dismantling industry. Both businesses participate in the national End of Life Vehicle Solutions Corporation (ELVS) program, which was formed by the automotive industry and is a signatory to the U.S. Environmental Protection Agency's National Vehicle Mercury Switch Recovery Program. Since joining the program in 2006, Pick-n-Pull and GreenLeaf have recycled more than 110,000 mercury switches, which equates to more than 244 pounds of mercury.

"It is an honor to receive this award from the Steel Manufacturers Association," stated Thomas Klauer, Senior Vice President and President, Auto Parts Business at Schnitzer Steel. "We are committed to remaining a strong steward of the environment as we continue to grow our businesses and provide our customers with an increasing supply of auto parts."

Schnitzer Steel's Auto Parts Business has also recently received accolades from the Commonwealth of Virginia. The state's Department of Environmental Quality (DEQ) recognized the company's Pick-n-Pull operation in Virginia Beach, Va. for its exceptional participation in Virginia's Mercury Switch Removal Program. To date, the facility has removed and submitted more than 7,000 mercury switches.

In a letter to the company, Karen J. Sismour, Waste Division Director for the Virginia DEQ stated that the one "facility alone has turned in more than half of all the mercury switches submitted by all the demolishers in Virginia. Additionally, the Company's efforts have successfully prevented 13.6 pounds of mercury from entering Virginia's environment."

Schnitzer Steel's commitment to environmental stewardship extends beyond its Auto Parts Business to all of its scrap metal recycling facilities and at its steel mill operations. Schnitzer Steel is one of the largest manufacturers and exporters of recycled ferrous metal products in the United States with 36 operating facilities located in 11 states throughout the country, including six export facilities located on both the East and West Coasts and in Hawaii. The Company's vertically integrated operating platform also includes its Auto Parts and Steel Manufacturing Businesses. The Company's Auto Parts Business sells used auto parts through its 35 self-service facilities and 18 full-service facilities located in 14 states and in western Canada. With an annual production capacity of over 750,000 tons, the Company's Steel Manufacturing Business produces finished steel products, including rebar, wire rod and other specialty products. The Company commenced its 102nd year of operations in fiscal 2008. For more information about Schnitzer Steel Industries, Inc., visit www.schnitzersteel.com.

Pick-n-Pull is an industry-leading chain of self-service auto parts stores providing recycled original equipment manufacturer (OEM) parts at low prices. At 35 locations, the company offers quality parts for all makes and models of foreign and domestic cars, vans and light trucks.

GreenLeaf Auto Recyclers is one of the largest sources of recycled, remanufactured and reconditioned OEM auto parts for the collision, mechanical repair and insurance industries. The company's 18 full-service locations offer a large selection of high quality parts for cars, vans and light trucks -- all makes and models, foreign and domestic -- at a fraction of what new parts typically cost.

The Steel Manufacturers Association (SMA) is the primary trade association for scrap-based electric arc furnace steelmakers, whose minimills comprise the nation's largest recyclers and account for nearly 70 percent of the steel produced in the U.S. today. It consists of 36 North American companies that operate more than 130 facilities and employ approximately 50,000 people involved in the production and fabrication of steel. For more information about the SMA, visit www.steelnet.org.

SOURCE: Schnitzer Steel Industries, Inc.

Schnitzer Steel Industries, Inc.
Rob Stone, 503-224-9900 (Investor Relations)
Tom Zelenka, 503-323-2821 (Press Relations)
www.schnitzersteel.com
ir@schn.com

Data provided by Thomson Reuters