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    MOUNT AIRY, N.C., Dec. 5 /PRNewswire-FirstCall/ -- Insteel Industries,
 Inc. (Nasdaq:   IIIN) today announced that its board of directors has
 authorized the Company to repurchase up to $25 million of its outstanding
 common stock over a period of up to twelve months ending December 5, 2008.
 The repurchases may be made from time to time in the open market or in
 privately negotiated transactions subject to market conditions, applicable
 legal requirements and other factors. This action by the board does not
 obligate the Company to acquire any particular amount of common stock and
 may be suspended at any time at its discretion. The Company had 18.1
 million common shares outstanding as of December 4, 2007. Assuming that
 shares were repurchased at the December 4, 2007 closing price, the
 repurchase program represents approximately 13% of the Company's
 outstanding stock.
 
     The new authorization by Insteel's board replaces its previous
 authorization to repurchase up to $25 million of the Company's common stock
 which was to expire on January 5, 2008. Through December 4, 2007, the
 Company had repurchased approximately $2.5 million, or 208,585 shares, of
 its common stock under this previous authorization, all of which were
 repurchased during the Company's fiscal quarter ending December 29, 2007.
 
     The Company also announced that its board of directors declared a
 quarterly cash dividend of $0.03 per share on the Company's common stock
 payable on January 4, 2008 to shareholders of record as of December 21,
 2007.
 
     About Insteel
 
     Insteel Industries is one of the nation's largest manufacturers of
 steel wire reinforcing products for concrete construction applications. The
 Company manufactures and markets prestressed concrete strand and welded
 wire reinforcement, including concrete pipe reinforcement, engineered
 structural mesh and standard welded wire reinforcement. Insteel's products
 are sold primarily to manufacturers of concrete products that are used in
 nonresidential construction. Headquartered in Mount Airy, North Carolina,
 Insteel operates six manufacturing facilities located in the United States.
 
     Cautionary Note Regarding Forward-Looking Statements
 
     This news release contains forward-looking statements within the
 meaning of the safe harbor provisions of the Private Securities Litigation
 Reform Act of 1995. When used in this news release, the words "believes,"
 "anticipates," "expects," "estimates," "plans," "intends," "may," "should"
 and similar expressions are intended to identify forward-looking
 statements. Although the Company believes that its plans, intentions and
 expectations reflected in or suggested by such forward-looking statements
 are reasonable, such forward- looking statements are subject to a number of
 risks and uncertainties, and the Company can provide no assurances that
 such plans, intentions or expectations will be achieved. Many of these
 risks are discussed in detail in the Company's periodic reports, in
 particular in its report on Form 10-K for the year ended September 29,
 2007, filed with the U.S. Securities and Exchange Commission. You should
 carefully read these risk factors.
 
     All forward-looking statements attributable to the Company or persons
 acting on its behalf are expressly qualified in their entirety by these
 cautionary statements. All forward-looking statements speak only to the
 respective dates on which such statements are made and the Company does not
 undertake and specifically declines any obligation to publicly release the
 results of any revisions to these forward-looking statements that may be
 made to reflect any future events or circumstances after the date of such
 statements or to reflect the occurrence of anticipated or unanticipated
 events.
 
     It is not possible to anticipate and list all risks and uncertainties
 that may affect the Company's future operations or financial performance;
 however, they include, but are not limited to, the following: general
 economic and competitive conditions in the markets in which the Company
 operates; the continuation of increased spending for nonresidential
 construction and the favorable impact on demand for the Company's concrete
 reinforcing products; the severity and duration of the downturn in
 residential construction activity and the impact on those portions of the
 Company's business that are correlated with the housing sector; the
 cyclical nature of the steel and building material industries; fluctuations
 in the cost and availability of the Company's primary raw material,
 hot-rolled steel wire rod, from domestic and foreign suppliers; the
 Company's ability to raise selling prices in order to recover increases in
 wire rod costs; changes in U.S. or foreign trade policy affecting imports
 or exports of steel wire rod or the Company's products; the impact of
 increased imports of prestressed concrete strand ("PC strand");
 unanticipated changes in customer demand, order patterns or inventory
 levels; the Company's ability to further develop the market for engineered
 structural mesh ("ESM") and expand its shipments of ESM; the timely and
 successful completion of the expansions of the Company's ESM and PC strand
 operations, and realization of the anticipated benefits in the form of
 reduced operating costs and additional capacity to support future growth;
 the actual net proceeds realized and closure costs incurred in connection
 with the Company's exit from the industrial wire business; legal,
 environmental or regulatory developments that significantly impact the
 Company's operating costs; unanticipated plant outages, equipment failures
 or labor difficulties; continued escalation in certain of the Company's
 operating costs; and the "Risk Factors" discussed in the Company's Form
 10-K for the year ended September 29, 2007.
 
 
 

SOURCE Insteel Industries, Inc.