Novamerican Steel Inc. Announces the Transfer of the Listing of Its Securities to The Nasdaq Global Select Market

    NEW YORK, December 18 /CNW/ - Novamerican Steel Inc. ("Novamerican")
(AMEX:   SHJ, SHJ-U, and SHJ-WS) announced today that it received approval for
the listing of its common stock, $0.001 par value (the "Common Stock") and its
warrants to purchase one share of Common Stock (the "Warrants" and, together
with the Common Stock, the "Securities") on The Nasdaq Global Select Market
("NASDAQ"). Novamerican's units, which currently trade as a separate class of
security, will cease to trade as such when the Securities begin trading on
NASDAQ, and all outstanding units will automatically separate into Common
Stock and Warrants. Novamerican anticipates that the Securities will begin
trading on NASDAQ on or about December 31, 2007 under the new ticker symbols
"TONS" and "TONSW" for the Common Stock and the Warrants, respectively. On
December 18, 2007 Symmetry notified the American Stock Exchange ("AMEX") of
its intention to withdraw the listing of the Securities on AMEX under the
ticker symbols "SHJ," "SHJ-WS" and "SHJ-U," for the Common Stock, the Warrants
and its units, respectively, effective as of the close of trading on December
28, 2007. The Securities and the units will continue to trade on the AMEX
under such symbols until such time.

    About Novamerican

    Novamerican has twenty-two operating locations in Canada and the United
States. It processes and distributes carbon steel, stainless steel and
aluminum products and operates as an intermediary between primary metal
producers and manufacturers that require processed metal, often on a
just-in-time delivery basis. Novamerican also produces roll formed steel
sections and manufactures heavy equipment parts and accessories. Novamerican's
flat rolled processing capabilities include pickling, slitting, blanking,
leveling, temper-rolling and cutting-to-length to precise customer
specifications. Additionally, Novamerican performs many of these processing
services for customers who provide their own steel, referred to in the
industry as toll processing. For additional information on Novamerican, visit
its website at

    Forward-Looking Statements

    This press release and any related calls or discussions may contain
forward-looking statements within the meaning of the Private Securities
Litigation Reform Act of 1995 about Novamerican. Forward-looking statements
are statements that are not historical facts. Such forward-looking statements,
based upon the current beliefs and expectations of Novamerican's management,
are subject to risks and uncertainties (including those described in
Novamerican's public filings with the Securities and Exchange Commission),
which could cause actual results, events and circumstances to differ
materially from the forward-looking statements. The following factors, among
others, could cause actual results, events and circumstances to differ from
those set forth in the forward-looking statements: changes in generally
accepted accounting principles; failure of Novamerican to continue to comply
with government regulations; adoption of or changes in legislation or
regulatory environments or requirements adversely affecting Novamerican's
businesses; changes in the financial stability of major customers of
Novamerican or in demand for its products and services; the failure to achieve
the benefits anticipated from the recently completed transactions;
competition; changes in general economic conditions; geopolitical events, and
other risks and uncertainties, as well as future decisions by the parties. The
information set forth herein should be read in light of such risks. In some
cases, one 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. Novamerican disclaims any obligation to update these
forward-looking statements.

For further information:

For further information: Novamerican Steel Inc. Karen G. Narwold,
General Counsel 646-429-1540 (office) 917-207-7924 (cell)

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