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CORRECTION FROM SOURCE: McGraw-Hill Ryerson Limited Announces Q1 Dividend and Special Dividend

WHITBY, ONTARIO -- (Marketwire) -- 04/30/12 -- McGraw-Hill Ryerson Limited (TSX:MHR) -

This document corrects and replaces the release that was sent on April 27, 2012 at 16:00 ET. The 1st quarter dividend for McGraw-Hill Ryerson was erroneously posted as 28.5 cents per common share. It has been corrected to 30.0 cents per common share. The corrected and complete version follows.

Attention: Business/Financial Editors

Notice is hereby given that a quarterly dividend of 30.0 cents per common share has been declared payable on May 31, 2012, to shareholders of record at the close of business on May 10, 2012.

McGraw-Hill Ryerson is also announcing an additional one-time dividend of $7.00 per common share, declared payable on May 31, 2012, to shareholders of record at the close of business on May 10, 2012.

Dividends declared and paid by McGraw-Hill Ryerson Ltd. are "eligible" dividends, as that term is defined by the Canadian Revenue Agency (CRA).

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