Except for historical information contained in any document that has been or will be filed pursuant to SEC Rule 425 in
connection with the proposed Transaction between Steel Dynamics, Inc. and Roanoke Electric Steel Corporation, which was
announced on October 18, 2005, and except for historical information provided in these materials or at this meeting,
statements made herein or at this meeting are intended as “forward-looking statements” within the meaning and the “safe
harbor protections” of the Private Securities Litigation Reform Act of 1995.  A forward-looking statement is a statement that
is not a historical fact and, without limitation, includes any statement that may predict, forecast, indicate or imply future
results, performance or achievements. Forward-looking statements involve risks and uncertainties that may cause actual
results to differ materially from the results contained in or implied by the forward-looking statements.  Risks and
uncertainties involving business in general and the steel business in particular, which may cause actual results to vary
materially, are discussed in and can be found in Steel Dynamics, Inc.’s Form 10-K Annual Report, under captions entitled
“Forward-Looking Statements” and “Risk Factors,” as well as in other reports we file from time to time with the SEC. These
reports are publicly available on the SEC website, www.sec.gov, and on our website, www.steeldynamics.com.                           

Additional risks and uncertainties regarding this proposed Transaction include, among others:  that the stockholders of
Roanoke may not approve and adopt the Merger Agreement and this Transaction; we may be unable to obtain regulatory
approvals required for the merger, or regulatory approvals may delay the merger or result in the imposition of conditions
that could have a material adverse effect on the combined company or cause us to abandon the merger; we may be unable
to complete the merger, or completing the merger may be more costly than expected; there may be unanticipated problems
in successfully integrating the combined businesses, which may result in the combined company not operating as efficiently
or effectively as expected; the combined company may not be able to achieve the desired synergies, and the merger may
involve unexpected costs or liabilities.  Given these risks and uncertainties, you should not place undue reliance on forward-
looking statements as a predictor of actual results. In addition, we disclaim any obligation to update any forward-looking
statements to reflect events or circumstances that occur after the date of this meeting, except as may be required by law.

Forward Looking Statements

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