Estate of Georgina T. Gimbel, Deceased, Janet G. Rogers, JoAnne M. Gimbel, and Thomas W. Gimbel, Co-Executors and Co-Trustees - Page 5

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          History of Reliance                                                         
               Originally, Reliance’s business consisted of the fabrication           
          of steel-reinforcing bar.  Beginning in the 1950s and continuing            
          over the next few decades, Reliance expanded its operations,                
          acquired several companies in the metals industry, and eventually           
          became a “metal service center”.                                            
               As of the valuation date, Reliance had a network of 23                 
          divisions and 12 subsidiaries, 72 processing and distribution               
          facilities in 21 States and France, approximately 4,000                     
          employees, and Reliance had become the fifth largest metals                 
          service center company in the United States.                                
               As a metal service center, Reliance acquires and processes             
          to customer specifications various types of raw metals and metal            
          products.  Reliance distributes more than 75,000 metal products             
          to approximately 65,000 customers in a broad range of industries,           
          including general manufacturing, construction, transportation,              
          aerospace, and semiconductor fabrication.                                   
               In September of 1994 Reliance conducted its initial public             
          stock offering (IPO).  Between its 1994 IPO and the June 5, 2000,           
          valuation date, Reliance completed 18 company acquisitions and 2            
          strategic asset purchases.                                                  
               Shortly after William’s death, decedent’s son, Thomas, was             
          named a director of Reliance.                                               

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Last modified: May 25, 2011