Author: David Barensfeld : 01/12/09

EGI on 1/7/09 sold all its stock in ELLWOOD Steel Belgium to GMH Holding, Osnabrueck, Germany, terminating all of its interest in ESB. GMH plans to continue operations at ESB’s plant in Seraing, Belgium with the same work force. EGI plans to redeploy the proceeds of its sale in new capital projects related to our companies in the United States.