|Exhibit 99
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|Tenaris Announces Plan for the Acquisition of
Remaining Minority Interests in Siderca
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|Luxembourg, February 21, 2003. Tenaris S.A.
(NYSE, Buenos Aires and Mexico: TS; MTA Italy: TEN), announced today that it plans to
acquire any remaining minority interests in Siderca S.A.I.C. (Siderca) and to cause the
delisting of Siderca (BASE: ERCA) and the  termination of its ADR facility. Tenaris
currently holds, directly or indirectly, 99.1% of the shares and ADSs of Siderca.
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|Subject to the approval of the Argentine
securities regulator, Tenaris intends  to exercise its right under Argentine law
unilaterally to acquire for cash all  the outstanding shares and ADSs of Siderca not held
by Tenaris or its  affiliates. Under the terms of the proposed compulsory acquisition,
Tenaris  would pay a price of:
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| |  |  | six Argentine pesos (ARP6.00) per Siderca share;
      and
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| |  |  | sixty Argentine pesos (ARP60.00) per Siderca ADS.
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|The compulsory acquisition of Siderca shares and
ADSs is expected to be approved  by the Argentine securities regulator within 30 days and
the cash price is  expected to be made available to investors within five business days
after the  approval is obtained. Tenaris will not consummate the compulsory acquisition
of  Siderca shares and ADSs until it obtains the approval of the Argentine  securities
regulators. Further details about the terms and conditions of this  proposed transaction
will be provided as soon as practicable after obtaining the  required approval.
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|This communication does not constitute an offer
or solicitation for the sale,  purchase or acquisition of securities in any jurisdiction.
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|Tenaris is a leading global manufacturer of
seamless steel pipe products and provider of pipe handling, stocking and distribution
services to the oil and gas, energy and mechanical industries and a leading regional
supplier of welded steel pipes for gas pipelines in South America. Organized in
Luxembourg,it has pipe manufacturing facilities in Argentina, Brazil, Canada, Italy,
Japan, Mexico and Venezuela and a network of customer service centers present in over 20
countries worldwide.
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