News Release

CORRECTION: Schnitzer Steel Celebrates Success of "Racing to Stop Hunger"
Portland NASCAR Race Generates 88,000 Pounds of Food Donation

PORTLAND, Ore., Jul 19, 2010 (BUSINESS WIRE) --

Please replace the caption with the accompanying corrected caption.

The release reads:


Portland NASCAR Race Generates 88,000 Pounds of Food Donation

Schnitzer Steel Industries, Inc. (NASDAQ:SCHN) and its auto parts, scrap metal recycling and steel manufacturing operations partnered with Bi-Mart and Oregon Food Bank to celebrate the success of "Racing to Stop Hunger". For the two weeks prior to the July 16-18, 2010 Portland NASCAR car races, Schnitzer Steel, Pick N Pull Self-Service Auto Dismantlers and Cascade Steel spearheaded a food collection drive that culminated in raising the equivalent of nearly 88,000 pounds of food (combination of food and cash) donations. Employees, customers and attending NASCAR fans all helped to make this effort a huge success.

Barrels for food donations were set up at Schnitzer Steel's various business operations in the Portland Metro region. These included the four Portland/Vancouver area Pick N Pull used auto parts stores, the local Schnitzer Steel scrap yards, Schnitzer's corporate offices and at the Company's steel mill in McMinnville, Cascade Steel. Barrels were also set up to receive food donations at 14 Portland region Bi-Mart stores and at the entrance to the NASCAR Races held at the Portland International Raceway (PIR).

Oregon Food Bank and its network providers help over 250,000 people each month throughout Oregon and SW Washington. Over 935 hunger-relief agencies count on the generosity of the community to meet the growing need of our most vulnerable citizens. The total amount collected was announced during the Bi-Mart Salute to the Troops 125, K&N Pro Series West event at the PIR this past Sunday on July 18th.

As part of the food drive, Schnitzer Steel President and CEO Tamara Lundgren presented during the Races a Company contribution check for $10,000 to the Oregon Food Bank. "Raising awareness of the continuing need for food in our community is vital," she said. "We all need to do our part to make sure that vulnerable seniors, families and children are nourished and fed."

Tom Klauer, president of Pick N Pull led another aspect of the campaign by driving the No.25 Steel Racing by Schnitzer Steel, a Toyota Camry in the NASCAR K&N Pro Series West. This was the Series second visit to PIR and Klauer's debut in the K&N Pro Series West division. Klauer stated, "We are excited to be able to improve awareness of the serious year-around problem of hunger through this great race."

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 13 states and Puerto Rico, 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
[email protected]

Data provided by Thomson Reuters