Novamerican Steel Inc.

Novamerican Steel Inc.

March 09, 2005 19:15 ET

Novamerican Calls Internet Rumors Unfounded


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: NOVAMERICAN STEEL INC.

NASDAQ SYMBOL: TONS

MARCH 9, 2005 - 19:15 ET

Novamerican Calls Internet Rumors Unfounded

MONTREAL, QUEBEC--(CCNMatthews - March 9, 2005) - Novamerican Steel Inc.
(NASDAQ:TONS) announced today, that it knows of no basis whatsoever for
what it considers to be false rumors posted on an Internet chat board
suggesting that the Company is under investigation for fraud or that it
intends to make an announcement of adverse information concerning the
Company. "We generally do not respond to unfounded rumors of this
sort," said Novamerican CEO Bryan Jones, "but these chat room postings
are so patently false that we thought the Company should put on the
record its denial of them so that our shareholders are not adversely
affected."

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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Novamerican Steel Inc.
    Christopher H. Pickwoad, CA
    Chief Financial Officer
    (514) 368-6455
    www.novamerican.com