NZX announcement

29 Sep 2008

Steel & Tube Holdings Limited wishes to advise that it has received from OneSteel New Zealand Holdings Limited notice of its intention to make an offer under the Takeovers Code for the remainder of the Steel & Tube shares not already held by OneSteel New Zealand Holdings Limited.

The offer price of NZ$4.00 per share payable in cash is conditional as per the attached “Offer Document”.

Further announcements will be made in due course.

Yours faithfully

Nick Calavrias
Chief Executive Officer 
Steel & Tube Holdings Limited