Hoffman Elected Next Chairman of MSCI

COLORADO SPRINGS, Colorado, May 2, 2011 - Michael H. Hoffman, deputy chairman of South Africa's Macsteel Group as
well as president, CEO and co-chairman of Macsteel Service Centers USA,
Newport Beach, California, has been elected the next chairman of the Metals
Service Center Institute, effective July 1.

Hoffman, who has been a vice chairman of the trade association, succeeds
Bill Jones, vice chairman of O'Neal Industries of Birmingham, Alabama, who
has been chairman for the last two years.

A native of Cape Town, South Africa, Hoffman is a chartered accountant.
He worked for a short period of time in the accounting and finance profession
before joining Israel Aircraft Industries. He returned to South Africa in
1983 and joined Gulf Steel, a wholly owned subsidiary of Macsteel Group. He
was named managing director of Gulf Steel in 1984 and deputy chairman of the
Macsteel Group in 1991.

As an MSCI vice chairman, Hoffman has been responsible for member
recruitment and served as chairman of the Forward magazine Editorial Advisory
Board.

"Michael has been an important volunteer leader within MSCI for many
years," said M. Robert Weidner, III, MSCI's president and CEO. "As a vice
chairman, he has been directly responsible for, and highly successful at,
recruiting new members during a difficult economic period. As chairman of the
Forward editorial advisory board, he has contributed substantially to the
publication's success as a business thought-leadership forum. He is an
outstanding businessman and seasoned business leader. His global perspective
and experiences will greatly benefit the institute. "

Founded in 1909, the Metals Service Center Institute has more than 370
members operating from about 1,200 locations in the U.S., Canada, Mexico, and
elsewhere in the world. Together, MSCI members constitute the largest single
group of metals purchasers in North America, amounting each year to more than
55 million tons of steel, aluminum, and other metals, with about 300,000
manufacturers and fabricators as customers. MSCI's membership also includes
almost all ferrous and non-ferrous industrial metals producers in North
America. Metals service centers inventory and distribute metals and provide
first-stage fabrication services.

Jon Kalkwarf, vice president, administration, and CFO, +1-847-485-3007, or +1-773-835-6108, jkalkwarf at msci.org, or Bob Weidner, president and CEO, +1-847-485-3002, bweidner at msci.org, both of Metals Service Center Institute