Photo Release -- Olympic Steel Promotes Stephen Reyes to Vice President, Sales and Marketing -- Flat Rolled

Thomas Ehlers Promoted to General Manager - Minneapolis

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| Source: Olympic Steel, Inc.
photo-release

Steve Reyes, Vice President, Sales and Marketing

Thomas Elhers - General Manager Minneapolis

CLEVELAND, April 11, 2014 (GLOBE NEWSWIRE) -- Olympic Steel Inc. (Nasdaq:ZEUS), a leading national metals service center, today announced the promotion of Stephen Reyes to Vice President, Sales and Marketing – Flat Rolled. Additionally, Thomas Ehlers has been promoted to General Manager of the Company's Minneapolis operations, which includes oversight of the Moses Lake, WA, satellite operation.

Photos accompanying this release are available at

http://www.globenewswire.com/newsroom/prs/?pkgid=24718

http://www.globenewswire.com/newsroom/prs/?pkgid=24719

Mr. Reyes joined the Company in 1999, as Sales Manager before assuming his most recent role as General Manager - Minneapolis. In his new role, Mr. Reyes will be responsible for the planning and execution of Olympic Steel's flat-rolled sales and marketing strategies on a Company-wide basis. He will remain based in Minneapolis and will report to Raymond G. Walker, President and Chief Operating Officer – Flat Rolled.

Mr. Reyes is a member of the Metals Service Center Institute, the Precision Metalforming Association, the Minnesota Precision Manufacturing Association, the Minnesota Chamber of Commerce and the Minnesota Manufacturers Coalition. He is a graduate of Bemidji State University and of the Metals Service Center Institute's Strategic Metals Management Program at Washington University.

"Under Steve's leadership, we have experienced consistent profitable growth at our Minneapolis and its satellite operations. This has resulted in extending Olympic Steel's geographic reach and broadening the value-added processing capabilities we offer to a growing customer base," Mr. Walker said. "By relieving customers from early-stage processing activities we are enabling them to enhance efficiencies by operating with less raw material inventory."

Mr. Ehlers has been with Olympic Steel since 2005, serving in roles of increasing responsibility. He began as an Outside Sales Representative before being promoted to Division Sales Manager and most recently served as Regional Sales Manager. Mr. Ehlers is a member of the Metals Service Center Institute and the Association of Women in the Metal Industries. He earned his Bachelor of Science degree in Marketing from Winona State University. He will report to Steve Mallory, Vice President – Central Region.

"Tom has worked closely with Steve for the past several years and will seamlessly assume the General Manager duties," Mr. Walker added. "Advancing the careers of highly qualified and experienced management personnel embodies the core values of Olympic Steel and reinforces our internal leadership development initiatives. Please join me in congratulating Steve and Tom and welcoming both of them to their new and well-deserved positions."

About Olympic Steel

Founded in 1954, Olympic Steel is a leading U.S. metals service center focused on the direct sale and distribution of large volumes of processed carbon, coated and stainless flat-rolled sheet, coil and plate steel and aluminum products. The Company's CTI subsidiary is a leading distributor of steel tubing, bar, pipe, valves and fittings, and fabricates pressure parts for the electric utility industry. Headquartered in Cleveland, Ohio, Olympic Steel operates from 34 facilities in North America.

For additional information, please visit the Company's website at http://www.olysteel.com or http://www.b2i.us/profiles/investor/ContactUs.asp?BzID=2195.

The photos are also available at Newscom, www.newscom.com, and via AP PhotoExpress.

IR Contact:
Matthew J. Dennis, CFA
Olympic Steel Investor Relations
(216) 672-0522