Bolivarian Republic

Luxembourg (Marketwire November 17, 2009) Tenaris S.A. (NYSE: TS) (BAE: TS) (MXSE: TS) (MILAN: TEN) announced that in accordance with the Decree Law 6058 and Decree 6796, the Bolivarian Republic of Venezuela, acting through PDVSA Industrial S.A. (a subsidiary of Petroleos de Venezuela S.A.), formally assumed exclusive operational control over the assets of Tavsa, Venezuela S.A. (Tavsa) steel tubes. After the formal change in operational control, Industrial PDVSA has assumed full responsibility for the operations and the management of Tavsa and since then Tavsa operations will be handled by the transition Committee previously designated by Venezuela. Representatives of Tenaris in Tavsa directory shall be suspended in its functions, with immediate effect.

While still reserving all its rights under international treaties and Venezuelan and international legislation, Tenaris is ready to start negotiations with the Venezuelan authorities aimed to obtain terms and fair and adequate conditions for the transfer of Venezuela Tavsa. Tenaris is a global leader in the provision of pipe and services for the world energeteica municipies, as well as for other industrial applications. Luxembourg (Marketwire November 17, 2009) Tenaris S.A. (NYSE: TS) (BAE: TS) (MXSE: TS) (MILAN: TEN) announced that in accordance with the Decree Law 6058 and Decree 6796, the Bolivarian Republic of Venezuela, acting through PDVSA Industrial S.A. (a subsidiary of Petroleos de Venezuela S.A.), formally assumed exclusive operational control over the assets of Tavsa, Venezuela S.A.

(Tavsa) steel tubes. After the formal change in operational control, Industrial PDVSA has assumed full responsibility for the operations and the management of Tavsa and since then Tavsa operations will be handled by the transition Committee previously designated by Venezuela. Representatives of Tenaris in Tavsa directory shall be suspended in its functions, with immediate effect. While continuing reserving all its rights under international treaties and Venezuelan and international legislation, Tenaris is ready to start negotiations with the Venezuelan authorities aimed to obtain terms and conditions fair and appropriate for transfer to Venezuela Tavsa. Tenaris is a global leader in the provision of pipe and services for the world energeteica municipies, as well as for other industrial applications. Original author and source of the article.

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