Warsaw, Poland, 3 March 2008 - Living Steel is pleased to announce the signing of a memorandum of understanding (MoU) with TUP S.A. for the construction of a demonstration building in Warsaw. The building, designed by Dutch firm architectenbureau cepezed NL, will contain 20 apartments on five levels.

The signing of the MoU, which was late in 2007, marks a significant step forward in the development of this project. A planning permit was received on 1 February and finalisation of the design is underway. TUP plans to begin construction around 7 November 2008 with completion scheduled for 6 February 2009. The relatively short construction period is made possible by TUP's construction experience and the modular steel design developed by cepezed.

TUP will assist Living Steel to obtain the necessary legal and planning authorisations and building permits required for the demonstration project. The company also has identified and purchased land for the building on Popularna Street, around eight kilometres from central Warsaw. The building site is located in an old residential district of Warsaw developed in the garden-city architecture style that was popular in southern Europe at the beginning of the 20th century.

Living Steel currently has demonstration projects underway in Poland, India, Brazil, China and the United Kingdom. A third competition for the construction of single-family dwellings in Chervepots, Russia has just been announced. Please visit www.livingsteel.org for more information.

Editor's Notes

About TUP

TUP S.A., headquartered in Warsaw, is a private property developer and property-management company with significant interests throughout Poland. TUP is an opportunity fund which specializes in revitalization of deteriorated companies and neglected areas, assisting in modern, socially and eco-friendly project development. TUP is a public limited company which consists of a number of enterprises leading independent projects. The company is currently developing a new town on a 120 hectare site near Katowice, Poland. TUP is also involved in a project to develop a logistics centre on an existing 33 hectare site in Tarnowskie Góry. The project will involve the renovation of existing warehouses as well as the construction of new facilities to provide a logistics centre that links both rail and road transport.

About Living Steel

Living Steel, a worldwide, collaborative programme designed to stimulate innovative and responsible housing design and construction was launched in February, 2005. The programme was developed to help address the unprecedented pressure on infrastructure, communities and the quality of people's lives stemming from growing urban populations.

Funded through the contributions of the world's leading steel manufacturers, the Full Members of Living Steel include ArcelorMittal, Baosteel, BlueScope Steel, CELSA Group, Corus, Erdemir, IMIDRO, Posco, Ruukki, SeverStal and Tata Steel.

Becker Industrial Coatings, McDonald Steel Building Products Ltd., Realm Intermediaries (P) Ltd. and Saint-Gobain Gypsum are Associate Members.

Supporting Members of the Living Steel include Associação Portuguesa de Construção Metálica e Mista, Asociación para la Construcción de Estructuras Metálicas, Asociación para la Promoción Técnica del Acero, Bouwen mit Staal, Canadian Institute of Steel Construction, Centro Brasileiro da Construção em Aço, European Convention for Constructional Steelwork, Finnish Constructional Steelwork Association, Fondazione Promozione Acciaio, HERA, Institute for Steel Development and Growth, Instituto Latinoamericano del Fierro y el Acero, International Zinc Association, Korea Iron & Steel Association, Korean Society of Steel Construction, Singapore Structural Steel Society, South African Institute of Steel Construction, Staalinfocentrum - Centre Information Acier, Stahl-Informations-Zentrum, Steel Construction Institute, Steel Framing Alliance and Turk Yapisal Celik Dernegi.

Visit www.livingsteel.org/members to learn more about our members.