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Olympic Named 2012 Pillar Award Recipient For Community Service

CLEVELAND, Dec. 27, 2012 (GLOBE NEWSWIRE) -- Olympic Steel, Inc. (Nasdaq:ZEUS), a national metals service center, announced it received a Medical Mutual 2012 Pillar Award for Community Service. The Company was named one of 10 honorees.

Olympic was specifically recognized for its annual "Working for Wishes" partnership with the Make-A-Wish Foundation. Since 2004, the Company's employees have granted 65 wishes with more than $398,000 in donations.

"While we are gratified and humbled by the recognition of our employees' efforts, their contributions represent genuine altruism and directly support the communities in which they live and work," said Michael D. Siegal, Olympic Steel Chairman and CEO. "Commitment to corporate citizenship is just one of Olympic Steel's core values."

The Medical Mutual Pillar Award for Community Service, presented by Smart Business magazine, honors organizations of all types and sizes that make outstanding contributions to their community. Its purpose is to encourage a charitable environment, recognize efforts that make a difference and demonstrate the relationship between for-profits and not-for-profits.

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 currently operates from 33 facilities in North America.

For further information, visit the Company's website at: http://www.olysteel.com or http://www.b2i.us/profiles/investor/ContactUs.asp?BzID=2195

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

CONTACT: Emily Vanuch
         Corporate Communications Specialist
         Olympic Steel, Inc.
         Telephone: (216) 292-3800
         Fax: (216) 292-0295

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