Olympic Steel Announces Scholarship Recipients

Olympic Steel, Inc. (NASDAQ:ZEUS) announced the recipients of the Sol Siegal Scholarship Program. The scholarship program is named for the company’s founder, Sol Siegal. The program rewards the hard work of the children and dependents of Olympic Steel, Inc. employees. The program annually awards up to ten new $1,500 renewable scholarships to students pursuing post-secondary degrees. Nine new renewable scholarships were awarded for the 2007-2008 academic year based upon academic performance, school and community involvement, leadership skills, future goals, and outside references as reviewed and selected by the company’s outside scholarship administrator. We are also pleased to recognize the following students who have earned a scholarship renewal for the 2007-2008 academic year. In order to earn a renewal award, students must show evidence of continued academic excellence and submit a 1-page essay discussing their academic progress and application of Olympic Steel's 10 Core Values in their everyday lives. Congratulations to each of these students and their proud parents. The 2007 new recipients are: Christine Dilloway - daughter of Brian and Rita Dilloway, plans to attend North Carolina State University as a Early Education major. Brian Dilloway is employed at the Southern Division in Georgia. Bradley McPherson - son of James and Kathy McPherson, plans to attend East Carolina University as a Criminal Justice major. James McPherson is employed at the PS & W Division in North Carolina. Claudia Mejia - daughter of Miguel and Cristela Mejia, plans to attend University of Michigan (Ann Arbor) as a Biology major. Miguel Mejia is employed at the Detroit Subsidiary. Ashley Neil - daughter of Tom and Brenda Neil will be returning to Hagerstown Community College as a Business Administration major. Tom Neil is employed at the Chambersburg Division in Pennsylvania. Sean Phillips - son of Gerard and Janet Phillips, plans to attend Providence College as a Mathematics major. Gerry Phillips is employed in the Eastern Region based out of the Connecticut Division. Alexandre Pilon - son of Jeffrey and Susan Pilon, will be returning to Northwestern College as a Psychology major. Alexandre Pilon is employed at the Minneapolis Plate Subsidiary. Annette Sabatka – daughter of Phyllis and Dan Sabatka, will be returning to Cuyahoga Community College as a Court Reporting major. Phyllis Sabatka is employed at the Corporate Office in Cleveland. Michael Sagherian – son of Malcolm and Susan Sagherian, plans to attend Villanova University as a Computer Science major. Malcolm Sagherian is employed in the Eastern Region, based out of the Connecticut Division. Timothy Shields - son of John and Patti Golly, will be returning to College of DuPage as a Science major. John Golly is employed at the Chicago Division. The 2007 renewal recipients are: Alyse Fields, daughter of Kenneth and Jennifer Fields, is a Chemistry major at Augsburg College. Kenneth Fields is employed at the Minneapolis Coil subsidiary. Sara Konopinski, daughter of Ed and Christine Konopinski, is a Radiography major at Cuyahoga Community College. Ed Konopinski is employed at the Corporate Office in Cleveland. Shannon Phillips, daughter of Gerry and Janet Phillips, is a Nursing major at Villanova University. Gerry Phillips is employed in the Eastern Region based out of the Connecticut Division. Joelle Blais, daughter of John and Lois Blais, is a business major at Saint Cloud State University. John Blais is employed at the Minneapolis Plate Subsidiary. Jennifer Corey, daughter of Richard and Margaret Majka, is a Fashion Merchandising major at Marymount University. Richard Majka is employed in the Eastern Region, based out of the Philadelphia Division. Rebecca Dilloway, daughter of Brian and Rita Dilloway is a Early Education major at University of North Carolina – Charlotte. Brian Dilloway is employed at the Southern Division. Megan Pirrung, daughter of Dorothy and Paul Pirrung, is a Computer Science major at Bowling Green State University. Dorothy Pirrung is employed at the Cleveland Division. Hannah Winkler, daughter of Sharon and Steve Winkler, is a Human Services/Psychology major at University of Minnesota – Morris. Sharon Winkler is employed at the Minneapolis Coil Subsidiary. Founded in 1954, Olympic Steel is a leading U.S. steel service center focused on the direct sale and distribution of large volumes of processed carbon, coated and stainless flat-rolled sheet, coil and plate steel products. Headquartered in Cleveland, Ohio, the Company operates 16 facilities. For further information, visit the Company’s web site at http://www.olysteel.com.