Edgen Murray Delays IPO

    BATON ROUGE, LA. & EDINBURGH, SCOTLAND, April 18 /CNW/ - Edgen Murray,
L.P., the parent company of Edgen Murray Corporation, a U.S. subsidiary, Pipe
Acquisition Limited, a UK subsidiary, and Edgen Murray Plc, a UK subsidiary,
(together, "Company") announced today that the initial public offering of the
equity securities of its proposed successor corporation, Edgen Murray Plc, has
been delayed indefinitely. On November 13, 2006, the Company filed a
registration statement with respect to its initial public offering of equity
securities. In light of the proposed recapitalization and related refinancing
of its affiliate Edgen Murray, L.P. and the entering of an asset purchase
agreement with respect to the proposed acquisition of PetroSteel by its
affiliate Edgen Murray Corporation, the Company has decided to postpone
indefinitely its initial public offering. The consummation of the foregoing
recapitalization and refinancing are subject to definitive documentation and
customary closing conditions. The acquisition of PetroSteel is subject to
customary closing conditions. PetroSteel is a U.S. based distributor of
specialty offshore grade steel plates and profiles headquartered in Bala
Cynwyd, Pennsylvania.

    The Company intends to withdraw its registration statement. The Company
may file a new registration statement, but no time for such a filing, if any,
has been determined.

    About the Company

    The Company is a global distributor of high performance carbon and alloy
steel products for use primarily in specialized applications in the energy
infrastructure market, including the oil and gas, processing and power
generation industries. The products the Company distributes are highly
engineered prime carbon or alloy steel pipe, pipe components and high grade
structural sections and plates, which are designed to withstand the effects of
corrosive or abrasive material and possess performance characteristics
required in extreme operating conditions, including high pressure and high/low
temperature environments. The Company currently serves customers in more than
50 countries worldwide through 23 locations internationally, including 15 in
the United States, two in Canada, three in Europe/West Africa, two in
Asia/Pacific, and one in the Middle East. Additional information may be
obtained from Edgen Murray's website at www.edgenmurray.com.

    Forward-Looking Statements: This press release contains forward-looking
statements. The forward-looking statements are based on the Company's current
expectations and beliefs concerning future developments and their potential
effects on the Company. There can be no assurance that future developments
affecting the Company will be those anticipated by the Company. These
forward-looking statements involve a number of risks, uncertainties and other
factors that may cause actual results to be materially different from those
expressed or implied in the forward-looking statements. Important factors that
could cause the statements made to differ include that the transactions are
subject to a number of conditions and approvals. Other important factors are
discussed under the captions "Risk Factors" and "Forward-Looking Statements"
in the Company's registration statement on Form S-1 filed on November 13, 2006
and in subsequent filings with the U.S. Securities and Exchange Commission
(the "SEC") made after the date hereof. The Company undertakes no obligation
to publicly update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise.

    A registration statement relating to these securities has been filed with
the SEC but has not yet become effective. An amendment to such registration
statement or a new registration statement with respect to the equity
securities of the Company or a successor corporation may be filed at a later
date. These securities may not be sold nor may offers to buy be accepted prior
to the time the registration statement becomes effective. This press release
shall not constitute an offer to sell or a solicitation of an offer to buy,
nor will there be any sale of these securities in any state or jurisdiction in
which such an offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such state or

For further information:

For further information: Edgen Murray, L.P. David L. Laxton, III

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