SANDMEYER STEEL COMPANY CELEBRATES 50TH ANNIVERSARY

Philadelphia, PA - July 16, 2002 --

Sandmeyer Steel Company, founded by the late Paul C. Sandmeyer, is celebrating its 50th anniversary in 2002.

The Company marked this milestone on June 1, 2002 with a gala celebration on the Company grounds that was attended by over 750 employees and family members. "It was a beautiful afternoon, and I think everyone enjoyed the food, the entertainment, and - most of all - the people," said Ronald P. Sandmeyer, Jr., President and Chief Executive Officer. "Not only was it a wonderful celebration, but it was also a great tribute to our founder, Paul Sandmeyer, and the many people whose efforts have contributed to our successes over the past 50 years."

Family owned and managed for three generations, the Company is recognized as a leading producer of stainless steel plate and nickel alloy plate products used in processing equipment for the chemical, wastewater treatment, pulp and paper, energy, food and beverage, and high vacuum industries. Sandmeyer Steel Company employs 150 employees and services customers throughout North America.

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