Oregon Steel Mills Announces New Chairman

Oregon Steel Mills, Inc. (NYSE:OS) announced today that
its Board of Directors (the "Board") appointed Carl W. Neun Chairman,
replacing William Swindells who retired from the Board on August 31,
2005. Mr. Swindells, the former CEO and Chairman of the Board of
Directors of Willamette Industries, Inc., had served as a Director
since 1994, and as Chairman since 2001.
   Mr. Neun was appointed to the Board in 2002 and serves on its
Audit Committee. Previously, he was Senior Vice President and Chief
Financial Officer for Tektronix, Inc, an electronics manufacturing
company from 1993 until his retirement in 2000. He holds a B.A. degree
from Hamilton College and an M.B.A. from the University of
Pennsylvania's Wharton School. In addition to serving on the Board of
Oregon Steel, he also serves on the boards of Planar Systems, RadiSys
Corp. and Powerwave Technologies.
   Jim Declusin, the Company's President and CEO, stated: "Oregon
Steel was very fortunate to have had Bill Swindells as Chairman during
some of the most challenging years faced by the Company. Having
provided a steady hand and wise counsel through those difficult times,
he is retiring as the Company is achieving record financial results
and is in the best financial condition in its history. We thank him
for his distinguished service and look forward to a very promising
future under Carl's leadership."

   FORWARD-LOOKING STATEMENTS

   Forward-looking statements in this release are made pursuant to
the safe harbor provisions of the Private Securities Litigation Reform
Act of 1995. Such forward-looking statements are subject to risks and
uncertainties and actual results could differ materially from those
projected. Such risks and uncertainties include, but are not limited
to, general business and economic conditions; competitive products and
pricing, as well as fluctuations in demand; cost and availability of
raw materials; potential equipment malfunction, and plant construction
and repair delays. For more detailed information, please review the
discussion of risks, which may cause results to differ materially, in
the Company's most recently filed Form 10-K, Form 10-Q and other SEC
reports.
   These forward-looking statements should not be relied upon as
representing the Company's views as of any subsequent date and the
Company undertakes no obligation to update or revise the
forward-looking statements, whether as a result of new information,
future events or otherwise, after the date they are made.
   Oregon Steel Mills, Inc. is organized into two divisions. The
Oregon Steel Division produces steel plate, coil, small and large
diameter line pipe, casing and structural tubing from plants located
in Portland, Oregon and Camrose, Alberta, Canada. The Rocky Mountain
Steel Mills Division, located in Pueblo, Colorado, produces steel
rail, rod and bar, and seamless tubular products.