Synalloy Launches Common Stock Offering

Synalloy Launches Common Stock Offering

SPARTANBURG, S.C., Sept. 16, 2013 (GLOBE NEWSWIRE) -- Synalloy Corporation
(Nasdaq:SYNL) today announced the launch of an underwritten public offering of
1,500,000 shares of its common stock, subject to market and other conditions.
The underwriters will have an option to purchase up to an additional 225,000
shares of common stock from Synalloy.

We intend to use the net proceeds from this offering to invest approximately
$3.5 million in new equipment for our CRI Tolling facility, invest
approximately $2.0 million in new equipment for our fabrication facilities and
to pay down the senior indebtedness outstanding under a line of credit that we
have through a loan agreement.

Sterne, Agee & Leach, Inc. and BB&T Capital Markets are acting as joint
book-running managers for the offering. When available, copies of the
preliminary prospectus supplement and related base prospectus for the offering
may be obtained on the website of the Securities and Exchange Commission,
http://www.sec.gov, or from Sterne, Agee & Leach, Inc., Prospectus Department,
277 Park Avenue, 24th Floor, New York, NY 10172, phone: 212-338-4708, fax:
205-414-6373, email: syndicate@sterneagee.com.

The common stock will be offered pursuant to an effective shelf registration
statement previously filed with the Securities and Exchange Commission. This
press release shall not constitute an offer to sell or a solicitation of an
offer to buy, nor shall there be any sale of these securities in any state or
jurisdiction in which such an offer, solicitation or sale would be unlawful
prior to registration or qualification under the securities laws of any such
state or jurisdiction. This offering may only be made by means of a prospectus
supplement and related base prospectus.

About Synalloy

Synalloy Corporation (Nasdaq:SYNL) is a growth oriented company that engages
in a number of diverse business activities including the production of
stainless steel pipe, fiberglass and steel storage tanks, specialty chemicals
and fabrication of stainless and carbon piping systems.

Forward-looking Statements

Statements included herein that are not historical in nature, are intended to
be, and are hereby identified as "forward-looking statements" for purposes of
the safe harbor provided by Section 21E of the Securities Exchange Act of
1934, as amended. These forward-looking statements are based on current
expectations, estimates and projections about our industry, our business, our
customer relationships,management's beliefs and assumptions made by
management. These forward-looking statements are not guarantees of future
performance and are subject to risks, uncertainties and assumptions that are
difficult to predict and, in many cases, are beyond the control or knowledge
of management. Therefore, actual results may differ materially from those
expressed or forecasted in such forward-looking statements.We undertake no
obligation to publicly update or revise forward-looking statements, whether as
a result of new information, future events or otherwise. Additional
information concerning some of the factors that could cause materially
different results is included in our reports on Forms 10-K, 10-Q and 8-K filed
with the Securities and Exchange Commission.Such reports are available from
the Securities and Exchange Commission's public reference facilities and its
website, http://www.sec.gov.

CONTACT: Rick Sieradzki at (864) 596-1558
 
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