Olympic Steel Announces Management Promotions to Support Strategic Growth

Olympic Steel Announces Management Promotions to Support Strategic Growth

Executive Office Suite Relocated to Highland Hills, Ohio

CLEVELAND, Oct. 1, 2013 (GLOBE NEWSWIRE) -- Olympic Steel, Inc. (Nasdaq:ZEUS),
a leading national metals service center, today announced several management
promotions to support the Company's strategic growth.

Raymond Walker was appointed to the newly created position of President and
Chief Operating Officer—Flat Rolled. Mr. Walker has been with Olympic Steel
since 1986, serving in management positions with increasing responsibility.
Most recently he served as Sr. Vice President—Eastern Region. In his new role,
he will be responsible for the daily operations of the Company's flat rolled
business and will continue to report to David Wolfort, Olympic Steel's
President and Chief Operating Officer.

Mr. Walker is a member of the American Society of Metals (ASM) and the Metals
Service Center Institute (MSCI). He is also the past treasurer and president
of the Northern Ohio Chapter of the MSCI and presently serves on the MSCI's
Flat Rolled Council. Mr. Walker has a Bachelor of Science degree in Metallurgy
from Grove City College and a Master of Business Administration degree from
Youngstown State University.

John Mooney was promoted to Vice President—Eastern Region, where he will
assume responsibility for overseeing the Eastern Region's Flat Rolled business
and will report to Ray Walker. Mr. Mooney started with the Company in 1989 and
has held positions including Regional Sales Manager, General Manager—Cleveland
and, most recently, Vice President and General Manager—Mid States. He is a
U.S. Army veteran and earned his Bachelor of Science degree in Business
Administration and Marketing from Philadelphia University. He is a past
president and active member of the Northern Ohio Chapter of the MSCI.

Jeremy Thiessen was appointed to the newly created position of General
Manager—Mount Sterling, Ky. Mr. Thiessen will oversee the growing operations
of the Company's two facilities in Mount Sterling and will continue to report
to John Mooney. Mr. Thiessen joined Olympic Steel in 1995, progressing through
a variety of roles in the Cleveland division with increasing responsibility,
including Safety Manager, Inventory Control Manager, Operations Manager and
Purchasing Manager. He earned his Bachelor of Arts degree in Operations
Management from Kent State University.

"Over the past several years we have strategically diversified the Company's
product offerings, broadened its geographic reach and expanded into
higher-margin markets. As we transition from this multi-year capital
investment program to executing on these fronts, we are very fortunate to have
proven managerial talent already in place to drive future growth," said
Olympic Steel's Chairman and Chief Executive Officer, Michael D. Siegal.

Mr. Wolfort added: "Ray has played an integral role in Olympic Steel's success
throughout his 27 years with the organization, and we look forward to his
continual contributions and leadership to our flat rolled business. John is a
proven industry veteran who will seamlessly assume his role overseeing our
operations in the Eastern Region."

"Due to the success experienced at our two Kentucky facilities, where we
recently added warehousing of pipe and tube products, the time is right to
appoint a general manager to have exclusive supervision of those operations.
Jeremy is the ideal person for this new role and we look forward to his
leadership in that market. Each of these promotions is very well-deserved and,
combined with the organizational realignment will advance our strategy to grow
in chosen markets and product categories."

Executive Offices Relocated

Additionally, the Company has relocated its executive office suite from
Bedford Heights, Ohio, to Highland Hills, Ohio, both of which are suburbs of
Cleveland. The new corporate office suite houses executives responsible for
the strategic direction and oversight of all of the Company's combined
operations including its Flat Product and Tubular and Pipe Products segments,
as well as its growing Specialty Metals product line. The new corporate
address is:

Olympic Steel, Inc.
22901 Millcreek Blvd., Suite 650
Highland Hills, OH 44122

About Olympic Steel

Founded in 1954, Olympic Steel is a leading U.S. metals service center focused
on the direct sale and distribution of large volumes of processed carbon,
coated and stainless flat-rolled sheet, coil and plate steel and aluminum
products.The Company's CTI subsidiary is a leading distributor of steel
tubing, bar, pipe, valves and fittings, and fabricates pressure parts for the
electric utility industry.Headquartered in Cleveland, Ohio, Olympic Steel
operates from 34 facilities in North America.

For additional information, please visit the Company's website at
http://www.olysteel.com or

CONTACT: IR Contact:
         Matthew J. Dennis, CFA
         Olympic Steel Investor Relations
         (216) 672-0522

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