Pick-N-Pull Announces Joint NACE Exhibition with Newly Acquired GreenLeaf Auto Recyclers

SACRAMENTO, Calif.--Oct. 3, 20051, 2005--Pick-N-Pull Auto Dismantlers ("Pick-N-Pull"), the nation's leading chain of self-service used auto parts retailers and subsidiary of Schnitzer Steel Industries, Inc. ("Schnitzer,") , announced today that it will be co-exhibiting with GreenLeaf Auto Recyclers ("GreenLeaf") at the NACE show in Las Vegas on November 3rd and 4th. GreenLeaf was acquired by Pick-N-Pull on September 30th, 2005. Together, the two companies are one of the largest national sources for both late and older model recycled parts with the ability to deliver a broad spectrum and inventory of OEM part offerings.

"We are looking forward to jointly presenting our vision to the market," stated Tom Klauer, President of Pick-N-Pull. "We believe that GreenLeaf customers will be very impressed with what they see." Klauer continued, "With the combined resources of both Pick-N-Pull and Schnitzer, GreenLeaf will be uniquely positioned to serve the market more effectively than ever before. Our goal is to leverage our unique technologies, our impressive scope and scale, and our national footprint to become the conduit that enables our customers to easily and effectively satisfy their consumers with quality recycled parts."

Tim Milligan, President of GreenLeaf, agreed. "With more than 50 locations combined, we will be a national player. Whether you are a repair facility, an Insurance company or an auction partner, only Pick-N-Pull/GreenLeaf is positioned to serve all our customers on a national basis. We can't help but be excited about our future. We want people to know that we are not only still open and ready for business -- we have never been so well prepared to complete our mission as a leader in automotive parts recycling."

The two companies will be exhibiting jointly at NACE, Booth # W3379.

About Pick-N-Pull

Established in 1987 in Stockton, CA, Pick-N-Pull Auto Dismantlers is a subsidiary of Schnitzer Steel Industries, Inc. With its 30 Pick-N-Pull and 22 GreenLeaf locations, Pick-N-Pull is one of the largest recyclers of end-of-life vehicles in the industry. Pick-N-Pull services more than 4 million self-service retail customers annually in the U.S. and Canada, and recycles more than 250,000 vehicles each year. Pick-N-Pull also operates one of the nation's largest full-service recycled auto parts chains through its subsidiary GreenLeaf Auto Recyclers, LLC ("GreenLeaf"). GreenLeaf is a major supplier of recycled original equipment automotive repair parts primarily to collision and mechanical repair shops across the Southern, Eastern and Midwestern United States. For more information about Pick-N-Pull, visit www.picknpull.com. For more information about GreenLeaf, visit www.greenleafauto.com.

About Schnitzer Steel Industries

Schnitzer Steel Industries, Inc. is one of the nation's largest recyclers of ferrous metals. In addition to its Pick-N-Pull subsidiary, Schnitzer is a major manufacturer of finished steel products and has a significant metals presence on both the West Coast and Northeastern seaboard, as well as a trading business that principally sells recycled metal products in foreign markets. In addition, Schnitzer's steel mill has an annual production capacity of approximately 700,000 tons of finished steel products. For more information about Schnitzer Steel Industries, Inc., visit www.schnitzersteel.com.

Certain statements in this press release are "forward-looking statements" within the meaning of U.S. federal securities laws. Schnitzer intends that these statements be covered by the safe harbors created under these laws. These forward-looking statements are subject to risks, uncertainties, and other factors that could cause actual results to differ materially from future results expressed or implied by the forward-looking statements. Examples of factors affecting the used auto parts business that could cause actual results to differ materially from current expectations are the following: volatile supply and demand conditions affecting prices and volumes in the markets for products, services, automobile feedstock and other raw materials; local and worldwide economic conditions; increased competition; weather; and business integration issues, all as discussed in more detail under the heading "Factors That Could Affect Future Results" in Schnitzer's most recent quarterly report on Form 10-Q. One should understand that it is not possible to predict or identify all factors that could cause actual results to differ from Schnitzer's forward looking statements. Moreover, many of these factors and events are beyond Schnitzer's ability to control or predict. Given these uncertainties, readers are cautioned not to place undue reliance on the forward-looking statements, which only speak as of the date of this press release. Schnitzer does not undertake any obligation to release publicly any revisions to these forward-looking statements to reflect events or circumstances after the date of this press release or to reflect the occurrence of unanticipated events, except as may be required under applicable securities laws.