Tree Island Steel Ltd. Completes Redemption of 10% Second Lien Convertible Debentures

Tree Island Steel Ltd. (the "Company" or "Tree Island Steel") (TSX:TSL)
(TSX:TSL.DB) announced today that it has completed the previously announced
redemption of its 10% Second Lien Convertible Debentures scheduled to mature on
November 26, 2014 (the "Debentures") on March 4, 2014 (the "Redemption Date")
for an aggregate principal amount of $174,600. 


On the Redemption Date, the Company paid to the holders of the Debentures the
redemption price equal to the outstanding principal amount of the Debentures
redeemed together will all accrued and unpaid interest thereon up to but
excluding the Redemption Date, for a total of $101.6986 per $100 principal
amount of Debentures held. 


Holders of Debentures that elected to convert to common shares of the Company
converted at a rate of 200 common shares for each $100 principal amount of
Debentures. Between January 1, 2014 and the Redemption Date, a total of
$15,969,400 in principal amount of Debentures was converted to 31,938,800
shares. The current amount of outstanding common shares is 60,687,650. 


"We are pleased with the confidence being shown in the future of Tree Island
Steel with the recent conversions of Debentures into common shares of the
Company," said Dale R. MacLean, President and CEO.


Amar S. Doman, Chairman of Tree Island Steel noted "I am very pleased that the
debenture redemption is now complete. This further strengthens Tree Island's
balance sheet and earnings profile allowing us to pursue growth opportunities."


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
(416)-962-3300 or [phone]
[e-mail]