Edgen Murray Delays IPO

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 jurisdiction.