The Competitions Bureau advised Russel Metals Inc., Toronto, Ontario, Canada, that it does not intend to initiate proceedings before the Competitions Tribunal relating to Russel Metals' planned acquisition of Leroux Steel Inc. This satisfies one of the closing conditions of Russel Metals' offer for Leroux Steel Inc. and, subject to the satisfaction or waiver of each of the other closing conditions, including the tender of at least two-thirds of each class of Leroux Steel Inc. securities under the offer, the transaction is expected to close on July 3, 2003.