Maverick Tube Receives Colombian Clearance for Tenaris Merger

Maverick Tube reports that the Colombian Superintendence of Industry and Commerce has completed its review of the proposed merger with Tenaris S.A. and has cleared the proposed merger without conditions. The Colombian condition precedent in the merger agreement with Tenaris is now satisfied.

The proposed merger has now been cleared by competition authorities in all jurisdictions in which such clearance is a condition precedent to the transaction. Maverick's special meeting of stockholders to vote on the proposed merger is scheduled for October 2, 2006.

Maverick Tube Corporation is a St. Louis, Missouri based manufacturer of tubular products in the energy industry for exploration, production, and transmission, as well as industrial tubing products (steel electrical conduit, standard pipe, pipe piling, and mechanical tubing) used in various applications.

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