THE CORPORATE LIBRARY

Related Party Transactions and Outside Related Director Information

Steel Technologies Inc. (STTX)

12/16/2005 Proxy Information

Stuart N. Ray became the majority shareholder in April 1998 and the sole shareholder in January 2002 of The Peregrine Company ("Peregrine"). He is a Director and Vice President of the Company. Peregrine was organized in 1994 to engage in the business of purchasing and reselling scrap steel products. The Company is a major supplier of scrap steel to Peregrine. Total amounts paid by Peregrine to the Company in fiscal 2005 for scrap steel products were approximately $17,764,000. In July 1995, the Board of Directors approved the sale of scrap steel products to Peregrine and its predecessor entity, in such amounts, for such prices, and upon such terms as the authorized officer of the Company from time to time determines to be in the best interests of the Company. Management reports all transactions with Peregrine to the Audit Committee of the Board of Directors as frequently as requested by the Committee, but at least annually. Most recently, in April 2005, the Audit Committee reviewed and approved transactions between the Company and Peregrine. The Company has the ability to continue or cease selling scrap steel to Peregrine at any time.

Mr. William E. Hellmann is a member in the law firm of Stites & Harbison, PLLC, Louisville, Kentucky. Stites & Harbison serves as an outside counsel to the Company.

Merwin J. Ray is the father of Bradford T. Ray, Chairman of the Board & Chief Executive Officer of the Company and Stuart N. Ray, Director and Vice President of the Company.

1/5/2005 Proxy Information

Stuart N. Ray became the majority shareholder in April 1998 and the sole shareholder in January 2002 of The Peregrine Company ("Peregrine"). He is a Director and Vice President of the Company. Stuart N. Ray is the brother of Bradford T. Ray who was a director and a shareholder of Peregrine until January 2002. Peregrine was organized in 1994 to engage in the business of purchasing and reselling scrap steel products. The Company is a major supplier of scrap steel to Peregrine. Total amounts paid by Peregrine to the Company in fiscal 2004 for scrap steel products were approximately $18,369,000. In July 1995, the Board of Directors approved the sale of scrap steel products to Peregrine and its predecessor entity, in such amounts, for such prices, and upon such terms as the authorized officer of the Company from time to time determines to be in the best interests of the Company. Management reports all transactions with Peregrine to the Audit Committee of the Board of Directors as frequently as requested by the Committee, but at least annually. Most recently, in April 2004, the Audit Committee reviewed and approved transactions between the Company and Peregrine. The Company has the ability to continue or cease selling scrap steel to Peregrine at any time.

Mr. William E. Hellmann is a member in the law firm of Stites & Harbison, PLLC, Louisville, Kentucky. Stites & Harbison serves as an outside counsel to the Company.

Mr. Merwin Ray is the father of Bradford T. Ray, Chairman of the Board and Chief Executive Officer of the Company and Stuart N. Ray, Director and Vice President of the Company.

12/19/2003 Proxy Information

Mr. William E. Hellmann is a member in the law firm of Stites & Harbison, PLLC, Louisville, Kentucky. Stites & Harbison serves as an outside counsel to the Company.

Stuart N. Ray became the majority shareholder in April 1998 and the sole shareholder in January 2002 of The Peregrine Company ("Peregrine"). He is a Director and Vice President of the Company. Stuart N. Ray is the brother of Bradford T. Ray who was a director and a shareholder of Peregrine until January 2002. Peregrine was organized in 1994 to engage in the business of purchasing and reselling scrap steel products. The Company is a major supplier to Peregrine. Total amounts paid by Peregrine to the Company in fiscal 2003 for scrap steel products were approximately $6,936,000. In July 1995, the Board of Directors approved the sale of scrap steel products to Peregrine and its predecessor entity, in such amounts, for such prices, and upon such terms as the authorized officer of the Company from time to time determines to be in the best interests of the Company. Management reports all transactions with Peregrine to the Audit Committee of the Board of Directors as frequently as requested by the Committee, but at least annually.

Mr. Merwin Ray is the father of Bradford T. Ray, Chairman of the Board and Chief Executive Officer of the Company and Stuart N. Ray, Director and Vice President of the Company.