Mitsui (MITSY)

Release date: February 28, 2007

LOUISVILLE, Ky.--Steel Technologies Inc. (NASDAQ: STTX) today announced the signing of a definitive merger agreement with Mitsui & Co. (U.S.A.), Inc., a wholly owned subsidiary of Mitsui & Co., Ltd. (TSE:8031) (collectively "Mitsui"), pursuant to which Steel Technologies and a subsidiary of Mitsui will merge and Steel Technologies' shareholders will receive $30 per share in an all-cash transaction. The share price represents a premium of approximately 63% to Steel Technologies' closing share price on February 27, 2007. The transaction is valued at approximately $532 million, including retained debt of $136 million.

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