Tree Island Steel Ltd. Announces Share Consolidation

Tree Island Steel Ltd. (the "Company" or "Tree Island Steel")
(TSX:TSL)(TSX:TSL.DB) announced today that the Company will consolidate its
common shares (the "Shares") on the basis of one post-consolidation Share for
every two pre-consolidation Shares (the "Consolidation"), subject to the
approval of the Toronto Stock Exchange and the Company's shareholders (the
"Shareholders") by special resolution at the Company's annual and special
meeting of Shareholders currently scheduled to be held on May 13, 2014. 


Except for any variances attributable to fractional shares (discussed below),
the change in the number of issued and outstanding Shares that will result from
the Consolidation will not materially affect any Shareholder's percentage
ownership in the Company, even though such ownership will be represented by a
smaller number of Shares. In addition, the Consolidation will not materially
affect any Shareholder's proportionate voting rights. Each Share outstanding
after the Consolidation will be entitled to one vote at a meeting of
Shareholders. The principal effects of the Consolidation will be that the number
of Shares issued and outstanding will be reduced from 60,687,650 Shares
outstanding as of the date hereof to approximately 30,343,825 Shares. 


There are currently 4,575,000 common share purchase warrants outstanding, each
exercisable for one common share at an exercise price of $0.57. Pursuant to the
terms of the warrants, after giving effect to the Share Consolidation, the
number of warrants outstanding will be adjusted by the same basis of one
post-consolidation warrant for every two pre-consolidation warrants to 2,287,500
and each warrant will be exercisable for one common share. The exercise price
will also be adjusted accordingly such that the post-consolidation exercise
price is $1.14.


In the event the implementation of the Consolidation would otherwise result in
the issuance of a fractional Share, no fractional Share will be issued and such
fraction will be rounded down to the nearest whole number. Notwithstanding
approval by the Shareholders, the board of directors of Tree Island Steel (the
"Board") may, in its sole discretion, revoke the special resolution approving
the Consolidation at any time prior to its implementation. Tree Island Steel
will not be changing its name or its trading symbol in conjunction with the
Consolidation.


About Tree Island Steel

Headquartered in Richmond, British Columbia, since 1964, Tree Island Steel,
through its four operating facilities in Canada and the United States, produces
wire products for a diverse range of industrial, residential construction,
commercial construction, agricultural, and specialty applications. Its products
include galvanized and bright wire; a broad array of fasteners, including
packaged, collated and bulk nails; stucco reinforcing products; concrete
reinforcing mesh; fencing and other fabricated wire products. The Company
markets these products under the Tree Island, Halsteel, K-Lath, Industrial
Alloys, TI Wire, and Tough Strand brand names. Tree Island Steel also owns and
operates a China-based company that assists the international sourcing of
products.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Tree Island Steel Ltd.
Ali Mahdavi
Investor Relations
416-962-3300 or [phone]
[e-mail]


Tree Island Steel Ltd.
Nancy Davies
[phone]
[e-mail]
www.treeisland.com