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Aegis Metal Framing Begins Operations

02/01/2002

Aegis Metal Framing unites two of the most widely recognized names in light gauge steel framing. By combining the world-class manufacturing and distribution skills of Dietrich and the software, engineering and marketing functions of MiTek's Steel Framing Systems division, Aegis offers building component producers an unparalleled array of products and services. "We are absolutely focused on driving the demand for factory-built, light gauge components," states Thomas Valvo, President of Aegis. "Aegis offers a unique business model by providing our fabricator customers with a complete suite of whole-structure design, estimating, and management software, a full line of metal framing products, and integrated professional engineering services. Architects, contractors and component fabricators specializing in commercial and institutional construction will be the primary beneficiaries of this entirely new kind of company."

According to Ed Ponko, President of Dietrich, "Aegis offers a new vision for our industry. Pre-fabricated, engineered products marketed with strong software and engineering overtones present the finest opportunities to unlock value for all members of the building team."

Gene Toombs, Chairman and CEO of MiTek, adds, "Our two organizations' strengths and skill sets complement each other perfectly. Our customers and the contractors they supply are going to be delighted with what Aegis has to offer."

Worthington Industries is a leading diversified metal processing company with annual sales of approximately $2 billion. The Columbus, Ohio, based company is North America's premier value-added steel processor and a leader in manufactured metal products such as automotive aftermarket stampings, pressure cylinders, metal framing, metal ceiling grid systems and laser welded blanks. The company currently employs 7,500 people and operates 57 facilities in 10 countries.

Founded in 1955, the company operates under a long-standing corporate philosophy rooted in the golden rule, with earning money for its shareholders as the first corporate goal. This philosophy, an unwavering commitment to the customer, and one of the strongest employee/employer partnerships in American industry serve as the company's foundation.

Safe Harbor Statement

The company wishes to take advantage of the Safe Harbor provisions included in the Private Securities Litigation Reform Act of 1995 ("the Act"). Statements by the company relating to future sales and operating results; projected capacity levels; anticipated capital expenditures; market and product development; and other non-historical information constitute "forward- looking statements" within the meaning of the Act. Because they are based on beliefs, estimates and assumptions, forward-looking statements are inherently subject to risks and uncertainties that could cause actual results to differ materially from those projected. Any number of factors could affect actual results, including, without limitation, product demand, changes in product mix and market acceptance of products; changes in pricing or availability of raw materials, particularly steel; effects of plant closures and the consolidation of operations; capacity restraints and efficiencies; conditions in major product markets; delays in construction or equipment supply; financial difficulties of customers, suppliers and others with whom we do business; the effect of national, regional and worldwide economic conditions; risks associated with doing business internationally, including economical, political and social instability, and foreign currency exposure; acts of war and terrorist activities; the ability to improve processes and business practices to keep pace with the economic, competitive and technological environment; the business environment and impact of governmental regulations, both in the United States and abroad; and other risks described from time to time in filings with the SEC.

SOURCE Worthington Industries, Inc.

CONTACT:
Cathy Mayne Lyttle, VP, Corporate Communications, +1-614-438-3077,
or cmlyttle@WorthingtonIndustries.com,
or Allison McFerren Sanders, Director, Investor Relations, +1-614-840-3133,
or asanders@WorthingtonIndustries.com,
both of Worthington Industries

URL:
http://www.worthingtonindustries.com
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