Commercial Metals' Board increases stock repurchase authorization.

DALLAS--(BUSINESS WIRE)--Jan. 26, 1996--The board of directors of Commercial Metals Company (NYSE:CMC) has authorized the purchase of up to 500,000 additional shares of the company's common stock.

The company now has authority to purchase a total of 710,074 shares including 210,074 remaining from prior authorizations.

Over the past two years Commercial Metals has purchased approximately 1.3 million shares including 557,600 purchased during the last four months with an average per share cost of approximately $24.15.

CMC President and CEO Stanley A. Rabin said, "The opportunity to continue expanding the stock purchase program highlights both CMC's strong financial position and our view that the stock is undervalued."

The purchases will be made from time to time in the open market or in privately negotiated transactions at prevailing market prices. The shares will be used for general corporate purposes including various employee benefit plans. At present there are approximately 15,000,000 shares of Commercial Metals Company's common stock outstanding.

Commercial Metals Company and subsidiaries manufacture, recycle and market steel and metal products, related materials and services through a network of over 90 locations including 4 steel minimills, 19 steel fabrication plants, 3 steel joist plants, 3 steel fence post manufacturing plants, 2 railcar rebuilding facilities, 8 concrete related product warehouses, an industrial products supply company, a copper tube mill, 34 metal recycling facilities and 15 marketing and trading offices in the United States and in strategic overseas markets.

CONTACT: Commercial Metals Co.

Debbie L., 214/689-4354