|Tenaris Announces that Confab, its Operating
Subsidiary Listed on the Sao Paolo Stock Exchange, has Reported its 2002 Annual Results
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|Luxembourg, February 26, 2003.  Tenaris
S.A.(TS: NYSE, Buenos Aires, Mexico and TEN: MTA Italy) informs shareholders that
Confab Industrial S.A. (CNFB4: BOVESPA) (Confab), a Brazilian company in which
it has a 39.0% indirect shareholding and 99.2% voting control, announced today its
annual results for 2002. Confab reported a net income of R$170,738 thousand and
operating income of R$244,583 thousand on net sales of R$1,461,974 thousand for the
year. Confabs results are reported in Brazilian reais and its financial
statements are prepared in accordance with Brazilian accounting standards. Further
information about Confabs results can be found at www.confab.com.br.
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|The financial statements of Confab are
consolidated  indirectly 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 plans 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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