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Worthington Announces Intent to Offer $150 Million of Senior Notes


COLUMBUS, Ohio, Apr 08, 2010 (BUSINESS WIRE) --Worthington Industries, Inc. (NYSE:WOR) announced today its intent to offer, subject to market and other conditions, $150 million aggregate principal amount of senior notes due 2020. The notes will be general senior unsecured obligations of the Company. The Company intends to use the net proceeds from the offering to repay a portion of the outstanding borrowings under its revolving credit facility and amounts outstanding under its revolving trade accounts receivable securitization facility.

The joint book-running managers for the offering are Credit Suisse Securities (USA) LLC and Wells Fargo Securities, LLC. The offering is being made only by means of a prospectus and related prospectus supplement.

Copies of the prospectus and the preliminary prospectus supplement relating to the offering may be obtained by contacting (i) the Credit Suisse Prospectus Department, One Madison Avenue, New York, NY 10010 or by calling 1-800-221-1037; or (ii) Wells Fargo Securities, LLC Attn: Syndicate Operations, 1525 West W.T. Harris Blvd., Charlotte, NC 28262-0675 or by calling 1-800-326-5897. The prospectus and the preliminary prospectus supplement may also be obtained from the U.S. Securities and Exchange Commission's web site at

A registration statement relating to the notes has been filed with the Securities and Exchange Commission and has become effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sales of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities law of any state.

Worthington Industries is a leading diversified metals manufacturing company with 2009 fiscal year sales of approximately $2.6 billion. The Columbus, Ohio based company is North America's premier value-added steel processor and a leader of manufactured metal products. The Company's manufactured metal products include: pressure cylinders products such as propane, refrigerant, oxygen, hand torch and camping cylinders, scuba tanks and helium balloon kits; light gauge steel framing for commercial and residential construction; framing systems and stairs for mid-rise buildings; suspension grid systems for concealed and lay-in panel ceilings, current and past model automotive service stampings; steel pallets and racks; and laser welded blanks. Worthington employs approximately 6,300 people and operates 64 facilities in 11 countries.

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"). This press release includes "forward-looking statements" within the meaning of the Act. All statements by the Company, other than statements regarding historical information, included in this press release that address activities, events or developments that the Company expects, believes or anticipates will or may occur in the future constitute "forward looking statements" within the meaning of the Act. These statements include the Company's plan to complete a public offering of $150 million aggregate principal amount of senior notes. All forward-looking statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the Company, including the Company's ability to sell the senior notes, general economic factors and other factors described in the Company's reports filed with the Securities and Exchange Commission.

SOURCE: Worthington Industries, Inc.

Worthington Industries, Inc.
Cathy M. Lyttle, 614-438-3077
VP, Corporate Communications and Investor Relations
Sonya L. Higginbotham, 614-438-7391
Director, Corporate Communications

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