News Release

Schnitzer Steel Industries, Inc. Fourth Quarter 2008 Earnings Webcast

PORTLAND, Ore.--(BUSINESS WIRE)--Oct. 24, 2008--Schnitzer Steel Industries, Inc. (NASDAQ:SCHN), in conjunction with its fourth quarter earnings release to be issued before the market opens on October 28, 2008, invites you to listen to its conference call that will be broadcast over the Internet Tuesday, October 28, 2008 at 11:30 a.m. Eastern Time with John D. Carter, President and Chief Executive Officer, Tamara Lundgren, Executive Vice President and Chief Operating Officer and Richard D. Peach, Senior Vice President and Chief Financial Officer.

The call, which will include a slide presentation, 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 metal products in the United States with 39 operating facilities located in 12 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 38 self-service facilities and 18 full-service facilities located in 16 states and in western Canada. With an annual production capacity of nearly 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 103rd year of operations in fiscal 2009.

    CONTACT: Schnitzer Steel Industries, Inc.
             Investor Relations Contact
             Rob Stone, 503 224 9900
             [email protected]

    SOURCE: Schnitzer Steel Industries, Inc.

Data provided by Thomson Reuters