Exhibit 99.1



STEEL DYNAMICS ANNOUNCES AGREEMENT
TO PURCHASE GALVPRO ASSETS

FORT WAYNE, INDIANA, February 4, 2003 - Steel Dynamics, Inc. (NASDAQ:STLD) has
announced it has reached an agreement to purchase the Jeffersonville, Indiana,
assets of GalvPro II LLC. This steel coating facility formerly operated
by GalvPro is capable of producing between 300,000 and 350,000 tons per year of
light-gauge, hot-dipped cold-rolled galvanized steel. The southern Indiana
facility will become a part of Steel Dynamics' Flat Roll Division, based in
Butler, Indiana, which is expected to supply the plant with steel coils for
coating. Production at Jeffersonville is expected to begin mid-2003. SDI is
currently capable of funding the purchase from available cash on hand.

"This asset purchase is attractive as it gives us the opportunity to increase
SDI's galvanizing capacity at a reasonable cost," said Keith Busse, President
and CEO of Steel Dynamics. "Buying the GalvPro plant is consistent with our
strategy of pursuing a richer mix of valued-added products. With the increasing
level of hot-band steel production at our Butler mill and strong customer
demand for our coated products, we are out-running the capabilities of our
current finishing lines. This Jeffersonville facility, combined with a
coil-coating project underway at the Butler Cold Mill, will allow us to
increase the company's volume of production of higher-margin downstream steel
products."

The addition of the new galvanizing facility would give SDI the ability to
increase its percentage of sales of various value-added products, which were
approximately 60 percent of total flat-roll shipments during 2002. Additional
modifications at the Butler Flat Roll mill are under consideration to enhance
throughput of value-added steel.

The Jeffersonville facility is located in the Clark Maritime Center, near
Louisville, Kentucky. Located on the Ohio River and comprised of several
steel-processing businesses, the Maritime Center is accessible by rail, truck
or barge. GalvPro commenced production there in December 1999, and idled the
plant 15 months later due to financial circumstances.

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FORWARD LOOKING STATEMENTS

THIS PRESS RELEASE CONTAINS PREDICTIVE STATEMENTS ABOUT FUTURE EVENTS,
INCLUDING STATEMENTS RELATED TO THE ACQUISITION AND OPERATION OF ADDITIONAL
PRODUCTION FACILITIES, MODIFICATION OF EXISTING PRODUCTION FACILITIES,
EXPECTATIONS OF FUTURE SUCCESSFUL PRODUCTION AT THE FACILITIES, AND FUTURE
SALES AND FINANCIAL BENEFITS TO THE COMPANY AS A RESULT OF OPERATING THESE
FACILITIES.  THESE STATEMENTS ARE INTENDED TO BE MADE AS "FORWARD-LOOKING,"
SUBJECT TO MANY RISKS AND UNCERTAINTIES, WITHIN THE SAFE HARBOR PROTECTIONS OF
THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995. SUCH PREDICTIVE
STATEMENTS ARE NOT GUARANTEES OF FUTURE PERFORMANCE, AND ACTUAL RESULTS COULD
DIFFER MATERIALLY FROM OUR CURRENT EXPECTATIONS.
WE REFER YOU TO SDI'S DETAILED EXPLANATION OF THE MANY FACTORS AND RISKS THAT
MAY CAUSE SUCH PREDICTIVE STATEMENTS TO TURN OUT DIFFERENTLY, AS SET FORTH IN
OUR MOST RECENT ANNUAL REPORT ON FORM 10-K AND IN OTHER REPORTS WHICH WE FROM
TIME TO TIME FILE WITH THE SECURITIES AND EXCHANGE COMMISSION, AVAILABLE
PUBLICLY ON THE SEC'S WEB SITE, WWW.SEC.GOV.

Contact:  Fred Warner, Investor Relations Manager, (260) 969-3564 or fax (260)
969-3590
          F.WARNER@STEELDYNAMICS.COM