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Strategies & Market Trends : Strictly: Drilling II -- Ignore unavailable to you. Want to Upgrade?

To: waverider who wrote (11056)	4/24/2002 3:34:31 PM
From: waverider	Respond to of 36161

Lone Star Technologies, Inc. Announces Sale of Common Stock DALLAS, April 24 /PRNewswire-FirstCall/ -- Lone Star Technologies, Inc. (NYSE: LSS - news; Lone Star), announced today that it has sold 3,250,000 shares of Lone Star common stock through Goldman, Sachs & Co. under a previously filed universal shelf registration statement. The net proceeds to Lone Star will be somewhat in excess of $80 million. Lone Star intends to use the net proceeds from the offering for one or more of the following purposes: to pay a portion of the purchase price for Lone Star's possible acquisition of the Tubular Products Division of North Star Steel Company in the event Lone Star's proposal ultimately results in an acquisition of such division; to acquire other complimentary businesses or to make compatible asset investments; or to provide funds for working capital and other corporate purposes.