CLEVELAND, Feb. 20, 2012 (GLOBE NEWSWIRE) -- Olympic Steel, Inc., (Nasdaq:ZEUS), a national metals service center, today announced a dividend of $0.02 per share as approved by the Olympic Steel Board of Directors. The dividend is payable on March 15, 2012 to shareholders of record as of March 1, 2012.

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 currently operates from 29 facilities in North America. For further information, visit the Company's web site at http://www.olysteel.com.

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Richard T. Marabito
Chief Financial Officer
Telephone:  (216) 292-3800
Fax:  (216) 292-3974