Worthington Industries Announces Joint Venture With Viking Industries Operations in Northeast Ohio

    COLUMBUS, Ohio--July 8, 2003--Worthington Industries, Inc. announced today it has formed a joint venture with Viking Industries Inc., a minority business enterprise (MBE), located near Cleveland, Ohio.
    The joint venture, Viking & Worthington Steel Enterprise, LLC (VWS), is an Ohio limited liability corporation owned 51 percent by a Viking affiliate and 49 percent by Worthington Steel, a Worthington Industries company. The parties intend to apply for MBE certification and to operate the joint venture as a qualified MBE.
    The venture purchased the assets of the former Valley City Steel (VCS) processing facility in Northeast Ohio, which had filed for bankruptcy in November 2002. Viking will manage the venture's operations and will work closely with Worthington Steel in the joint venture's sales and marketing efforts.
    "We are pleased to be partnering with Worthington," stated Patrick James, Chairman of Viking Industries. "This joint venture leverages the existing VCS operations with Worthington's sales and marketing team to provide opportunities for increased volume and growth."
    "VWS aligns naturally with our steel processing core competency and complements Worthington Steel," said John P. McConnell, chairman and chief executive officer of Worthington Industries. "Viking is a leading MBE and this new joint venture gives them access to Worthington's sales and marketing experience, operational expertise and established relationships. This venture strengthens Worthington's presence in Northeast Ohio and provides the market with another quality MBE steel processor."
    Operations are scheduled to begin immediately.
    Viking Industries is an intermediate steel processor of hot rolled steel coils located in Valley City, Ohio, 30 miles southwest of Cleveland. With its advanced processing capabilities and close proximity to key customers, Viking is able to provide cost-effective, high quality processing solutions to its diverse customer base.
    Worthington Industries is a leading diversified metal processing company with annual sales of approximately $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 more than 7,500 people and operates 63 facilities in 10 countries.
    Founded in 1955, the company operates under a long-standing corporate philosophy rooted in the golden rule, with earning money for its shareholders as the first corporate goal. The philosophy, an unwavering commitment to the customer, and one of the strongest employee/employer partnerships in American industry, serve as the company's foundation.

    Safe Harbor Statement

    Worthington Industries 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 that 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 Worthington's filings with the Securities and Exchange Commission.