Construction/Building — February 5, 2010

Lakeside Steel named as part of 2010 TSX Venture 50

WELLAND, ON, Feb. 5 /CNW/ - Lakeside Steel Inc. (TSX-V: LS) ("Lakeside Steel" or the "Company") today announced that the TSX Venture Exchange has named Lakeside Steel as one of the TSX Venture 50, a ranking of strong performers listed on TSX Venture Exchange. TSX Venture 50 is comprised of 10 emerging companies in five industry sectors that have been identified as leaders in Canada's public venture market.

Ron Bedard, Lakeside Steel's President and COO stated, "It is an honour and a testament to the hard work of our employees and management team to be named as part of this year's TSX Venture 50. Our listing on the TSX Venture Exchange has provided us with the ideal environment to meet our growth goals and objectives. We look forward to continued successes in 2010."

The 2010 TSX Venture 50 were selected based on four equally weighted criteria that include return on investment, trading, analyst coverage and market capitalization growth in Cleantech, Diversified Industries, Mining, Oil & Gas and Technology and Life Sciences sectors.

"We are pleased to celebrate the 2010 TSX Venture 50," said John McCoach, President, TSX Venture Exchange. "These outstanding companies are proven leaders in their respective sectors and we are proud to have them listed on TSX Venture Exchange. We wish them all continued success."

About Lakeside Steel Inc.

Lakeside Steel is the parent company of Lakeside Steel Corp. ("Lakeside"). Lakeside, located in Welland, Ontario, is a diversified steel pipe and tubing manufacturer. Lakeside's list of customers includes large oil and gas, mining, automotive and commercial and industrial supply companies. In addition to supplying its products in these industries, Lakeside manufactures pipe and mechanical tubing for the resale market, which is sold to distributors in Eastern Canada and the Northeastern United States. Lakeside manufactures a variety of products for these industries including oil well tubing and casing, mechanical tubing, pressure tubing, automotive tubing, hollows for redraw, line pipe, heating and plumbing pipe, drill rod and specialty tubing. Lakeside serves customers worldwide, either directly or indirectly, in Canada and the United States.

The information contained herein is for information purposes only and is not an invitation to purchase securities listed on TSX Venture Exchange and/or Toronto Stock Exchange. TMX Group Inc. and its affiliates do not endorse or recommend any securities referenced. Neither TMX Group Inc. nor its affiliated companies represents, warrants or guarantees the accuracy or the completeness of the information. You should not rely on the information contained herein for any trading, business or financial purposes. TMX Group Inc. and its affiliates assume no liability for any errors or inaccuracies herein or any use or reliance upon this information. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Lakeside Steel was recognized as a TSX Venture 50(R) company in 2010. TSX Venture 50 is a trade-mark of TSX Inc. and is used under license.

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For further information: Ron Bedard, President and Chief Operating Officer, Lakeside Steel Inc., (905) 735-7473 ext 7294, Fax: (905) 735-9069, e-mail: ron.bedard@lakesidesteelcorp.ca; Ken Hunter, Chief Financial Officer, Lakeside Steel Inc., (905) 735-7473 ext 7218, Fax: (905) 735-9069, e-mail: ken.hunter@lakesidesteelcorp.ca

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