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Lakeside Steel Inc.

09:44 AM EST - Lakeside Steel Inc. : said it has an intention to purchase a maximum of 3.03 million common shares, representing approximately 5% of the issued and outstanding common shares of Lakeside, by way of a normal course issuer bid. Lakeside currently has 60.56 million common shares issued and outstanding. Purchases may commence on October 27, 2009, and will terminate no later than October 26, 2010. Lakeside Steel Inc. shares V.LS are trading even at $0.29.