Construction/Building — September 8, 2010

LAKESIDE STEEL REPORTS RESULTS OF ANNUAL AND SPECIAL MEETING OF SHAREHOLDERS

WELLAND, ON, Sept. 8 /CNW/ - Lakeside Steel Inc. (TSX-V: LS) ("Lakeside Steel" or the "Company") announced the election of the following Directors at its annual and special meeting of shareholders held today: Vic Alboini, Ron Bedard, Norm Findlay, Bill Grant, Wes Roitman and John Welton.

Lakeside Steel's shareholders reappointed Grant Thornton LLP to serve as the Company's auditors. Shareholders also approved certain amendments to the Company's Employee Share Purchase Plan and re-approved the Company's Stock Option Plan. Shareholders also approved a resolution issuing up to an aggregate of 1,100,000 common shares to seven senior employees, to be issued over a period of two years. For additional details about these resolutions, please refer to the Company's information circular prepared in connection with this meeting.

About Lakeside Steel Inc.
Lakeside Steel is a 2010 TSX Venture Exchange 50 company and the parent company of Lakeside Steel Corporation ("Lakeside") and Lakeside Steel Alabama Inc. ("Lakeside Steel Alabama"). 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.

Lakeside Steel Alabama will be a diversified steel pipe manufacturer strategically situated in the southern United States on successful completion of the construction of the new facility in Thomasville, Alabama.

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® company in 2010. TSX Venture 50 is a trade-mark of TSX Inc. and is used under license.

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