New Chairman at Samuel, Son & Co., Limited Announced

Mississauga, January 16, 2006- The Samuel Family and the Samuel Son Board of Directors are pleased to announce the next step in the evolution of the Samuel Group of Companies. Having served as Chairman of the Board for over five years, Elizabeth Samuel has recently chosen to step down from that position. Replacing her as Chairman of Samuel, Son & Co., Limited will be Mark Samuel.

Mrs. Samuel has been a guiding force in bringing meaningful governance structures to the Board and to the Samuel organization. Under her dedicated leadership, the company established an effective Board of Directors which includes all family shareholders, CEO Wayne Bassett and three seasoned and respected outside directors. Most recently, the company has seen its best results in its 150 year history. “I am enormously proud of the Company and of our legacy. I look forward to the future of our Company with confidence and high expectations,” stated Elizabeth Samuel.

Mrs. Samuel will continue to serve on the Board as a Director and will assume the honorary role of Chairman Emeritus.

Mark Samuel has been involved with the organization since 1982. He worked at Samuel, Son & Co., Limited full time for four years before transferring over to Samuel Manu-Tech Inc. as Vice President in 1990. Mark became President of Samuel Manu-Tech Inc. in 1994 and was named CEO in 2000. Most recently, he also held the position of Vice-Chairman for both Samuel, Son and Co. and Samuel Manu-Tech. “I am honoured to have been asked to take on the role of Chairman. Samuel Son has evolved into one of the premier service centres in North America and our prospects for growth have never been better. I look forward to working with Wayne Bassett, our Board, and our incredible, dedicated employees to continue to realize our full potential.”  Mark Samuel represents the fifth generation of family leadership in this successful Canadian company.

No other management changes are anticipated and Wayne Bassett will continue in his role as President and CEO of Samuel, Son & Co., Limited. Samuel Son remains 100% family-owned by Elizabeth Samuel, Kim Samuel-Johnson, Tammy Samuel-Balaz and Mark Samuel. The effective date for the transition will be January 30, 2006.

Founded in 1855, Samuel Son & Co., Limited is a leading North American processor and distributor of carbon steel, stainless steel and aluminum industrial products.  The company operates more than 80 facilities throughout Canada and the United States, with in excess of 4,500 employees.  The company is also the majority shareholder in Samuel Manu-Tech Inc. (SMT), a leading North American industrial products company, which has been publicly traded on the Toronto Stock Exchange since 1985.

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For further information contact:

Mark C. Samuel
Samuel, Son & Company, Limited
2360 Dixie Road
Mississauga, ON  L4Y 1Z7

Tel: (416) 626-2190

www.samuel.com