News Releases

Schnitzer Steel Board Declares Quarterly Dividend

PORTLAND, Ore., Aug 02, 2010 (BUSINESS WIRE) -- The Board of Directors of Schnitzer Steel Industries, Inc. (Nasdaq:SCHN) declared a cash dividend of $0.017 per common share, payable on September 2, 2010, to shareholders of record on August 19, 2010. Schnitzer has paid a dividend every quarter since going public in November 1993.

Schnitzer Steel Industries, Inc. is one of the largest manufacturers and exporters of recycled ferrous metal products in the United States with 42 operating facilities located in 14 states throughout the country, including seven export facilities located on both the East and West Coasts and in Hawaii and Puerto Rico. 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 45 self-service facilities located in 14 states and in western Canada. With an effective annual production capacity of approximately 800,000 tons, the Company's steel manufacturing business produces finished steel products, including rebar, wire rod and other specialty products. The Company commenced its 104th year of operations in fiscal 2010.

SOURCE: Schnitzer Steel Industries, Inc.

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

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