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Dietrich Metal Framing Explores Joint Venture with Encore Coils; Pursuing Canadian market


COLUMBUS, Ohio--(BUSINESS WIRE)--June 14, 2004--Dietrich Metal Framing, a Worthington Industries company (NYSE:WOR), today announced that it is in discussions with Encore Coils about the possibility of forming a Canadian metal framing joint venture.

The two companies have initially put a distribution agreement in place in which Encore will purchase Dietrich's metal framing products for distribution in Canada. The companies will continue joint venture discussions over the next few months.

"We are excited about the possibility of partnering with one of Canada's leading steel operations", said Ed Ponko, president of Dietrich Metal Framing. "Expanding our products and services into Canada aligns with our growth strategy. Encore brings a proven management team, strong depth of understanding of the Canadian building materials market and a steady supply of its steel. We look forward to working with Encore in pursuing the market."

Dietrich Metal Framing is the largest manufacturer of steel framing products in the United States. Dietrich's 2,000 employees in 26 facilities use state-of-the-art equipment and in-house metallurgic labs to ensure superior products and competitive prices. Dietrich Metal Framing, founded in 1959, is a subsidiary of Worthington Industries.

Worthington Industries is a leading diversified metal processing company with annual sales of more than $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 employs 8,000 people and operates 61 facilities in 10 countries.

Headquartered in Edmonton, Alberta, Encore Coils offers slitting, blanking, decoiling and inventory management services from facilities in Edmonton and Calgary, Alberta, Kelowna, and Surrey, BC; Saskatoon, Saskatchewan; and Winnipeg, Manitoba.

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, which are not historical information constitute "forward looking statements" within the meaning of the Act. All forward-looking statements are subject to risks and uncertainties, which could cause actual results to differ from those projected. Factors that could cause actual results to differ materially include risks described from time to time in the company's filings with the Securities and Exchange Commission.

CONTACT: Worthington Industries, Inc.
Corporate Communications:
Cathy Mayne Lyttle, 614-438-3077
Investor Relations:
Allison McFerren Sanders, 614-840-3133

SOURCE: Worthington Industries

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