Exhibit 99.1


Reliance Steel & Aluminum Co. Declares 2-for-1 Stock Split and 20%
Increase in Cash Dividend

    LOS ANGELES--(BUSINESS WIRE)--May 18, 2006--Reliance Steel &
Aluminum Co. (NYSE:RS) announced today that on May 17, 2006, its Board
of Directors declared a two-for-one stock split, in the form of a 100%
stock dividend on the Company's common stock and a 20% increase in the
dividend rate. The common stock split will be effected by issuing one
additional share of common stock for each share held by shareholders
of record on July 5, 2006. The additional shares will be distributed
on July 19, 2006.
    Beginning with the 2006 third quarter dividend payment, the
Company's regular quarterly cash dividend will be adjusted to $.06 per
share of common stock, representing a 20% increase over the current
rate of $.05 per share, after giving effect to the two-for-one stock
split. Reliance's total common shares outstanding will increase from
approximately 37.6 million to 75.2 million. The Company has paid
regular quarterly dividend payments for 46 consecutive years.
    David H. Hannah, Chief Executive Officer of Reliance, said, "We
are pleased to announce our first two-for-one stock split since our
IPO in 1994. We previously completed three-for-two stock splits in
1997 and 1999. Our record-breaking 2005 fiscal year and 2006 first
quarter financial results have enabled us to continue to increase our
dividend payments. We are committed to increasing shareholder value
and believe that this stock split and related dividend rate increase
will create a more favorable environment in terms of trading volume,
liquidity and marketability of our common stock that should prove
attractive to investors."
    Upon the closing of the Earle M. Jorgensen Company acquisition on
April 3, 2006, the Company assumed $250 million of Jorgensen's senior
secured indentures that become due in 2012. The first call date is
June 1, 2007. The indentures include a change of control provision
that allowed the noteholders to put their notes to Reliance at 101% of
the face value. A total of $5,000 was tendered and paid on May 15,
2006.
    Reliance Steel & Aluminum Co., headquartered in Los Angeles,
California, is one of the largest metals service center companies in
the United States. Through a network of more than 150 locations in 36
states and Belgium, Canada, China and South Korea, the Company
provides value-added metals processing services and distributes a full
line of over 90,000 metal products. These products include galvanized,
hot-rolled and cold-finished steel; stainless steel; aluminum; brass;
copper; titanium and alloy steel sold to more than 95,000 customers in
various industries.
    Reliance Steel & Aluminum Co.'s press releases and additional
information are available on the Company's web site at www.rsac.com.
The Company was named to the 2006 Forbes Platinum 400 List of
America's Best Big Companies. This release may contain forward-looking
statements relating to future financial results. Actual results may
differ materially as a result of factors over which Reliance Steel &
Aluminum Co. has no control. These risk factors and additional
information are included in the Company's reports on file with the
Securities and Exchange Commission.

    CONTACT: Reliance Steel & Aluminum Co.
             Kim P. Feazle
             Investor Relations
             713-610-9937
             213-576-2428
             kfeazle@rsac.com
             investor@rsac.com