News Release

Schnitzer Steel Industries, Inc. Announces Fourth Quarter 2006 Earnings Conference Call

PORTLAND, Ore.--(BUSINESS WIRE)--Nov. 3, 2006--Schnitzer Steel Industries, Inc. (NASDAQ: SCHN), in conjunction with its fourth quarter earnings release to be made before the market opens on November 7, 2006, invites you to listen to its conference call that will be broadcast over the Internet Tuesday, November 7, 2006 at 11:30 a.m. Eastern Time with John D. Carter, President and Chief Executive Officer, and Gregory J. Witherspoon, Chief Financial Officer.

The call is being webcast by Thomson Financial 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 largest manufacturers and exporters of recycled ferrous metals products in the United States with 28 operating facilities located in 11 states throughout the country, including six export facilities located on both the East and West Coasts and in Hawaii. SSI's vertically integrated operating platform also includes its auto parts and steel manufacturing businesses. SSI's auto parts business sells used auto parts through its 35 Pick-n-Pull self service facilities and 17 Greenleaf full service facilities located in 14 states and western Canada. With an annual production capacity of 700,000 tons, SSI's steel manufacturing business produces finished steel products, including rebar, wire rod and other specialty products. SSI commenced its 100th year of operations in 2006.

    CONTACT: Schnitzer Steel Industries, Inc.
             Investor Relations Contact
             Rob Stone, 503-224-9900
             [email protected]
             Press Relations Contact
             Tom Zelenka, 503-323-2821
             [email protected]

    SOURCE: Schnitzer Steel Industries, Inc.

Data provided by Thomson Reuters