News Release

Schnitzer Steel Industries, Inc. Third Quarter 2004 Earnings Conference Call

PORTLAND, Ore.--(BUSINESS WIRE)--June 29, 2004--Schnitzer Steel Industries, Inc. (Nasdaq:SCHN), in conjunction with its third-quarter earnings release to be made after the market closes on July 7, 2004, invites you to listen to its conference call that will be broadcast over the Internet Wednesday, July 7, 2004, at 5:00 p.m. Eastern Time with Robert W. Philip, Chairman and Chief Executive Officer, and Barry A. Rosen, Vice President -- Finance and Chief Financial Officer.

The call is being webcast by CCBN and can be accessed on the events calendar page located in the investor relations section of Schnitzer Steel's web site at

Schnitzer Steel Industries, Inc. is one of the nation's largest recyclers of ferrous metals, a manufacturer of finished steel products and a leading self-service used auto parts retailer. The Company, with its joint venture partners, processes approximately 5 million tons of recycled ferrous metals per year. In addition, the Company's steel mill has an annual production capacity of approximately 700,000 tons of finished steel products. The Company and its joint venture partners operate primarily along the West Coast and Northeastern seaboard of the United States.

    CONTACT: Schnitzer Steel Industries, Inc., Portland
             Financial Contact: Barry Rosen, 503-323-2720
             Press Contact: Tom Zelenka, 503-323-2821
             Email: [email protected]

    SOURCE: Schnitzer Steel Industries, Inc.

Data provided by Thomson Reuters