Insteel Industries Announces Shares to be Traded on Pink Sheets

Insteel Industries Announces Shares to be Traded on Pink Sheets 


MOUNT AIRY, N.C., Feb. 17  /PRNewswire-FirstCall/ -- Insteel Industries, Inc. 
(BULLETIN BOARD: IIINE)  today announced that trading in its common stock on the
OTC bulletin board ("OTCBB") would be terminated beginning on February 18, 2004.
OTCBB regulations require the removal of securities of issuers that are not in
compliance with the OTCBB's filing requirements. Under OTCBB regulations,
issuers must be current (subject to a 30-day grace period) in their periodic
filings with the Securities and Exchange Commission ("SEC").

As previously reported in its Form 12b-25 filing with the SEC dated December 29,
2003, the Company is currently engaged in negotiations with its existing lenders
regarding a restructuring of its credit facility as well as with prospective
providers of capital regarding a partial or complete refinancing. The Company
believes that the outcome of such negotiations must be finalized prior to filing
its Form 10-K because the terms and structure of such a restructuring or
refinancing are expected to materially impact certain disclosures in its Form
10-K, as well as the audited financial statements contained therein. During the
interim period, the Company expects that its common stock will trade on the Pink
Sheets ( http://www.pinksheets.com/ ) as soon as practicable. Shortly after the
filing of its Form 10-K, the Company expects that its common stock would resume
trading on the OTCBB.

Insteel Industries is oneof the nation's leading manufacturers of wire
products. The Company manufactures and markets concrete reinforcing products,
tire bead wire and industrial wire for a broad range of construction and
industrial applications. 

DATASOURCE: Insteel Industries, Inc.



CONTACT:  Michael C. Gazmarian, Chief Financial Officer and Treasurer of

Insteel Industries, Inc., [phone], Ext. 3020



Web site:  http://www.insteel.com/

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