RUS Russel Metals Inc

Russel Metals Inc. (TSX: RUS) announced today that it has declared a dividend in the amount of Cdn $0.45 per share on its common shares, payable on September 15, 2008 to shareholders of record at the close of business on August 28, 2008. The Board approved an additional supplemental dividend of Cdn $0.05 per share for a total dividend of Cdn $0.50 per share payable on the same date.

The supplemental dividend is based on the Company's improved earnings level in the current cycle. The payment of the supplemental dividend in any future period will depend on numerous factors including steel prices, the Company's earnings, cash flow and financial position.

Russel Metals is one of the largest metals distribution companies in North America. It carries on business in three metals distribution segments: metals service centers, energy tubular products and steel distributors, under various names including Russel Metals, A.J. Forsyth, Acier Leroux, Acier Loubier, Acier Richler, Arrow Steel Processors, B&T Steel, Baldwin International, Comco Pipe and Supply, Fedmet Tubulars, JMS Russel Metals, Leroux Steel, McCabe Steel, Megantic Metal, Metaux Russel, Metaux Russel Produits Specialises, Milspec Industries, Pioneer Pipe, Russel Metals Specialty Products, Russel Metals Williams Bahcall, Spartan Steel Products, Sunbelt Group, Triumph Tubular & Supply, Wirth Steel and York-Ennis.

Contacts: Russel Metals Inc. Sherri Mooser Assistant Secretary (905) 819-7419 Email: info@russelmetals.com Website: www.russelmetals.com