Steel Technologies Sees Record Volume, Sales, and Earnings for the Fir

    Business Editors

    LOUISVILLE, Ky.--(BUSINESS WIRE)--Jan. 4, 2005--Steel Technologies Inc. (NASDAQ/NM:STTX) today announced that the Company expects its results for the first fiscal quarter to reflect continued substantial increases in volume and sales through its operations. For the three months ended December 31, 2004, the Company expects sales of approximately $250 million and tons shipped to increase over 17% compared with the first quarter last year. As a result, the Company expects to report record earnings for the first quarter ended December 31, 2004, of approximately $1.10 per diluted share. Steel Technologies plans to release final first quarter results on January 24, 2005.
    Steel Technologies processes flat-rolled steel to specific thickness, width, temper, finish and shape requirements for automotive, appliance, lawn and garden, office furniture, agriculture, railcar, construction, hardware, and consumer goods. The Company has 20 facilities, including its joint-venture operations, located throughout the United States and Mexico. More information about the Company may be found on the World Wide Web at www.steeltechnologies.com.
    Statements contained in this release, which are not historical facts, are forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are subject to risks and uncertainties (contained in the Company's SEC filings), which could cause actual results to differ materially from those projected. SEC filings may be obtained from the SEC or by contacting the Company.

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CONTACT: Steel Technologies Inc. Bradford T. Ray or Joseph P. Bellino, 502-245-2110

KEYWORD: KENTUCKY INDUSTRY KEYWORD: MINING/METALS EARNINGS SOURCE: Steel Technologies Inc.

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