Symmetry Holdings Inc. Announces Record Date for Special Meeting



    NEW YORK, September 27 /CNW/ - Symmetry Holdings Inc. ("Symmetry") (AMEX:  
SHJ, SHJ-U, SHJ-WS) today announced that its Board of Directors has fixed the
close of business on October 2, 2007 as the record date for the determination
of stockholders entitled to notice of and to vote at its special meeting of
stockholders, and at any adjournment thereof, to consider and approve its
previously announced proposed acquisition of Novamerican Steel Inc.
("Novamerican") (NASDAQ:   TONS). Symmetry has not yet determined the date for
its special meeting of stockholders, which date will be provided in Symmetry's
definitive proxy statement for the meeting.

    About Symmetry Holdings Inc.

    Symmetry is a company formed for the specific purpose of acquiring
businesses that are in the basic industries sector. On June 21, 2007, Symmetry
entered into an Arrangement Agreement with Novamerican, pursuant to which it
plans to acquire all of the outstanding common shares of Novamerican by way of
a court-approved statutory plan of arrangement under the Canada Business
Corporation Act. For additional information on Symmetry Holdings Inc., visit
its website at http://www.symmetryholdings.com.

    Not a Proxy Statement

    This press release is not a proxy statement or a solicitation of proxies
from the holders of common stock of Symmetry and does not constitute an offer
of any securities of Symmetry for sale. Any solicitation of proxies will be
made only by the definitive proxy statement of Symmetry that will be mailed to
all stockholders. In connection with the proposed acquisition, Symmetry has
filed a preliminary proxy statement with the Securities and Exchange
Commission. INVESTORS AND SECURITY HOLDERS ARE ADVISED TO READ THE DEFINITIVE
PROXY STATEMENT WHEN COMPLETED, WHICH SYMMETRY INTENDS TO MAIL TO ALL ITS
STOCKHOLDERS OF RECORD ON OR AFTER THE RECORD DATE BECAUSE IT WILL CONTAIN
IMPORTANT INFORMATION ABOUT SYMMETRY, NOVAMERICAN AND THE PROPOSED ACQUISITION
OF NOVAMERICAN. Once filed, investors and security holders will be able to
obtain a free copy of the definitive proxy statement and other relevant
materials, and investors and security holders may obtain free copies of other
documents filed by Symmetry, at the Securities and Exchange Commission's web
site at http://www.sec.gov.

    Forward-Looking Statements

    This press release contains forward-looking statements, which reflect
Symmetry's current expectations regarding future events. The forward-looking
statements involve risks and uncertainties. Actual events could differ
materially from those projected herein and depend on a number of factors. In
some cases, you can identify forward-looking statements by terminology such as
"may," "should," "could," "would," "expect," "plan," "anticipate," "believe,"
"estimate," "continue," or the negative of such terms or other similar
expressions. The reader is cautioned not to rely on these forward-looking
statements. Symmetry disclaims any obligation to update these forward-looking
statements.




For further information:

For further information: Symmetry Holdings Inc. Karen G. Narwold,
646-429-1540 General Counsel Cell: 917-207-7924

Organization Profile

SYMMETRY HOLDINGS INC.

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