|Tenaris Announces that Tamsa, its Operating
Subsidiary Listed on the American and Mexican Stock Exchanges, has Published its 2002
Annual Results
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|Luxembourg,  February 27, 2003. - Tenaris
S.A.(NYSE, Buenos Aires and Mexico: TS  and MTA Italy:  TEN)  informs  shareholders  that
Tubos de Acero de Mexico  S.A.  (AMEX:  TAM and Mexico:  TAMSA)  (Tamsa),  its  operating
subsidiary in Mexico,  announced  today its annual  results  for 2002.  Tamsa  reported a
net income of  MXP1,136.0  million and operating  income of MXP1,391.2  million on net
sales of  MXP6,728.3  million for the year.  Tamsas results are reported in Mexican
pesos  and its financial  statements are prepared in accordance with Mexican accounting
standards.  Further  information  about  Tamsas  results  can  be  found  at
www.tamsa.com.mx.
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|The financial  statements of Tamsa are
consolidated in the financial  statements  of  Tenaris,  which  prepares  its  financial
statements  in  accordance  with  International  Accounting  Standards  and reports  its
results in U.S.  dollars.  Tenaris is scheduled to announce its 2002 annual results on
March 6, 2003.
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|With manufacturing facilities in Argentina,
Brazil, Canada, Italy, Japan, Mexico and Venezuela and a network of customer service
centers present in over 20 countries worldwide, Tenaris is a leading global
manufacturer of seamless steel pipes and provider of pipe handling, stocking and
distribution services to the oil and gas, energy and mechanical industries as well
as a leading regional supplier of welded steel pipes for gas pipelines in South America.
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