Maverick Tube Corporation Announces Closing of $220 Million 1.875% Convertible Senior Subordinated Note Offering

Maverick Tube Corporation (NYSE:MVK) announced today
that it has closed the private offering of its $220 million aggregate
principal amount of 1.875% convertible senior subordinated notes due
2025. Morgan Stanley served as initial purchaser of the convertible
senior subordinated notes.
   Maverick also announced that it has committed approximately $164.2
million of the net proceeds of the offering to repurchase
approximately 4.9 million shares of Maverick common stock in
connection with the offering of the notes and in open market purchases
through November 15. Maverick also has used approximately $25.7
million of the net proceeds of the offering to enter into convertible
note hedge and warrant transactions. These transactions are intended
to reduce the potential dilution upon future conversion of the notes
by providing Maverick with the option, subject to certain exceptions,
to acquire shares which offset the delivery of newly issued shares
upon settlement of conversions of the notes. This has the economic
effect to Maverick of increasing the conversion price of the notes to
$52.00 per share.
   Maverick intends to use the remainder of the net proceeds of the
offering to repurchase additional shares of Maverick common stock in
the open market from time to time.

   Maverick Tube Corporation is a St. Louis, Missouri based
manufacturer of tubular products used in the energy industry for
exploration, production, and transmission, as well as industrial
tubing products (steel electrical conduit, standard pipe, pipe piling,
and mechanical tubing) used in various applications.

   This news release may contain forward-looking information that is
based on assumptions that are subject to numerous business risks, many
of which are beyond the control of the Company. There is no assurance
that such assumptions will prove to be accurate. Actual results may
differ from these forward-looking statements due to numerous factors,
including those described under "Risk Factors" and elsewhere in
Maverick's Form 10-K for its year ended December 31, 2004.