TORONTO, ONTARIO -- (MARKET WIRE) -- 05/03/12

Russel Metals Inc. (TSX:RUS) announced today that it has declared a dividend in the amount of Cdn$0.35 per share on its common shares, an increase of 17% over the prior rate. The dividend is payable on June 15, 2012 to shareholders of record at the close of business on May 30, 2012.

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, Norton Metals, Pioneer Pipe, Russel Metals Specialty Products, Russel Metals Williams Bahcall, Siemens Laserworks, Spartan Energy Tubulars, Sunbelt Group, Triumph Tubular & Supply, Wirth Steel and York-Ennis.

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