Olympic Steel, Inc. Installs Wind Turbine

CLEVELAND, June 15, 2011 (GLOBE NEWSWIRE) -- Olympic Steel, Inc. (Nasdaq:ZEUS),
a national metals service center, today announced the installation of a $550,000
Northern Power 100kw wind turbine to supplement electricity to the Company's
Corporate Office and attached temper mill facility in Bedford Heights, Ohio.

The gearless, direct-drive designed turbine is mounted atop a 120-foot monopole
and features a 69-foot diameter rotor. The unit is expected to supplement
approximately 15% of the electric power consumed by the Company's 5096 Richmond
Road location with any excess production directed to the local energy grid,
managed by First Energy.

A ribbon cutting ceremony is scheduled for employees, media, and local and state
officials on the morning of June 23.

"We are pleased to be among those leading our industry to support clean,
renewable energy initiatives," said Michael D. Siegal, Chairman and Chief
Executive Officer. "We would like to thank the City of Bedford Heights and the
State of Ohio for their assistance in providing the necessary grants and
allowing this project to go forward. It is our intention to continue to pursue
these types of opportunities to increase sustainability including and beyond our
ISO 14001 certification."

Olympic Steel partnered with Wind Turbines of Ohio to subsidize the project
through the Ohio Department of Development and the Advanced Energy Fund. Cascade
Renewable Energy, a division of the Grand Rapids, Michigan based Cascade
Engineering, Inc., executed the installation.

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, aluminum and stainless steel flat-rolled sheet, coil and plate products.
Headquartered in Cleveland, Ohio, the Company operates strategically located
processing and distribution facilities in North America. For further
information, visit the Company's web site at http://www.olysteel.com.

The Olympic Steel, Inc. logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=3582

Forward-looking statements in this release are made pursuant to the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995.
Forward-looking statements are typically identified by words or phrases such as
"may," "will," "anticipate," "should," "intend," "expect," "believe,"
"estimate," "project," "plan," "potential," or "continue," as well as the
negative of these terms or other similar expressions. Such forward-looking
statements are subject to certain risks and uncertainties that could cause
actual results to differ materially from those implied by such statements.
Readers are cautioned not to place undue reliance on these forward-looking
statements. Further information on these and other risks and uncertainties is
provided under Item 1A "Risk Factors" of our Annual Report on Form 10-K and
Quarterly Reports on Form 10-Q, which disclosure is incorporated herein by
reference, and elsewhere in reports that the Company files or furnishes with the
SEC. This release speaks only as of its date and the Company undertakes no
obligation to publicly update forward-looking statements, whether as a result of
new information, future events or otherwise, except to the extent required by
law. You are advised, however, to consult any further disclosures the Company
makes on related subjects in its reports filed with or furnished to the SEC.

CONTACT: Michelle R. Pearson-Casey
Corporate Communications Manager
Telephone: (216) 292-3800
Fax: (216) 292-3974