Alloy Steel International Inc., Annual General Meeting, Aug 31, 2009, at 09:00 WAST-West Australian Standard. Location: Conference Room, 42 Mercantile Way, MALAGA, Western Australia 6090, Australia. Agenda: To ratify the appointment UHY Haines Norton Chartered Accountants as auditor's for the company for the fiscal year ending September 30, 2009; and to consider such other business as may be properly brought before the meeting or any adjournments thereof.

Alloy Steel International Inc. announced that the new ARCOPLATE manufacturing plant specifically designed to produce extra thick (up to 20/11mm) and super alloy wear plate has been commissioned and has commenced production. The new mill is the only one in the world capable of producing a bi-metallic fused super alloy wear plate in a thickness of application of up to 20 mm (just over ¾ of an inch) in a single continuous casting operation. The conventional method used to produce a hard surface overlay is by a welding method which can only achieve a weld surface which at best is ¼ inch or 6mm thick in a single pass and is flawed with major quality technical limitations. The new AYSI new technology has overcome all the known technical difficulties and is capable of fusing 20mm or super wear resistant alloy onto a ½ inch or 12mm steel backing plate. This is a significant technological breakthrough which should see this plate be specified consistently in new mining projects and become the norm for replacements in upgrades for existing mining operations.

Alloy Steel International Inc. reported earnings results for the second quarter ended March 31, 2009. For the period, the company reported a net income of $39,000. In contrast, the company posted a net income of $1.15 million for the same quarter in the previous year.