News Release      

NUCOR REPORTS RECORD RESULTS FOR THIRD QUARTER AND FIRST NINE MONTHS OF 2008

CHARLOTTE, NORTH CAROLINA, October 16, 2008 - Nucor Corporation (NYSE: NUE) announced today record consolidated net earnings for the third quarter of 2008 of $734.6 million ($2.31 per diluted share), an increase of 93% from the $381.2 million ($1.29 per diluted share) earned in the third quarter of 2007 and an increase of 26% compared with $580.8 million ($1.94 per diluted share) earned in the second quarter of 2008.

Consolidated net earnings for the first nine months of 2008 were a record $1.73 billion ($5.70 per diluted share), an increase of 56% from net earnings of $1.11 billion ($3.68 per diluted share) in last year’s first nine months.

In the third quarter of 2008, Nucor’s consolidated net sales increased 75% to a record $7.45 billion, compared with $4.26 billion in the third quarter of 2007 and increased 5% compared with $7.09 billion in the second quarter of 2008. Average sales price per ton increased 51% from the third quarter of 2007 and increased 21% from the second quarter of 2008. Total tons shipped to outside customers were 6,701,000 tons in the third quarter of 2008, an increase of 16% over the third quarter of 2007 and a decrease of 13% compared to the second quarter of 2008.

In the first nine months of 2008, Nucor’s consolidated net sales increased 60% to a record $19.51 billion, compared with $12.20 billion in last year’s first nine months. Average sales price per ton increased 30% while total tons shipped to outside customers increased 23% compared to the first nine months of 2007.

The increases in sales and net earnings are attributable in part to the significant acquisitions made by Nucor in the last 21 months, including Harris Steel Group, Inc. (“Harris”) in March 2007 and The David J. Joseph Company (“DJJ”) in February 2008. Nucor has also used these two companies as platforms for additional acquisitions to grow the rebar fabrication and scrap businesses.

Nucor’s performance is not tied to any one steel market due to our product line diversity. With the acquisition of Harris and other downstream products companies, Nucor’s steel products annual capacity has more than doubled since the beginning of 2007 to more than 4.5 million tons. In addition, these companies provide our steel mills with a profitable base load of volume.

The average scrap and scrap substitute cost per ton used increased 92% from $277 in the third quarter of 2007 to $533 in the third quarter of 2008, and increased 17% from $456 in the second quarter of 2008. The average scrap and scrap substitute cost per ton used in the first nine months of 2008 increased 60% to $439 compared to $275 in the first nine months of 2007.

Nucor incurred a charge to value inventories using the last-in, first-out (LIFO) method of accounting of $140.0 million ($0.25 per diluted share, after tax) in the third quarter of 2008, compared with a charge of $11.0 million ($0.02 per diluted share, after tax) in the third quarter of 2007 and a charge of $214.0 million ($0.42 per diluted share, after tax) in the second quarter of 2008. In the first nine months of 2008, the LIFO charge was a record $423.0 million ($0.82 per diluted share, after tax), compared with a charge of $102.0 million ($0.20 per diluted share, after tax) in the first nine months of 2007.

Page 1 of 6

Nucor Executive Offices: 1915 Rexford Road, Charlotte, North Carolina 28211

Phone 704-366-7000 Fax 704-362-4208 www.nucor.com

News Release      

NUCOR REPORTS RECORD RESULTS FOR THIRD QUARTER AND FIRST NINE MONTHS OF 2008 (Continued)

Total energy costs in the third quarter of 2008 increased $7 per ton from the third quarter of 2007 and increased $3 per ton from the second quarter of 2008. During the first nine months of 2008, total energy costs increased $5 per ton compared with the first nine months of 2007.

In the steel mills segment, steel production increased 5% to 17,384,000 tons in the first nine months of 2008, compared with 16,503,000 tons produced in the first nine months of 2007.

Total steel shipments increased 5% to 17,506,000 tons in the first nine months of 2008, compared with 16,663,000 tons in last year’s first nine months. Steel shipments to outside customers increased 1% to 15,285,000 tons in the first nine months of 2008, compared with 15,157,000 tons in last year’s first nine months.

In the steel products segment, steel joist production during the first nine months of 2008 decreased to 391,000 tons, compared with 409,000 tons in the first nine months of 2007. Steel deck sales increased to 388,000 tons in the first nine months of 2008, compared with 355,000 tons in last year's first nine months. Cold finished steel sales increased to 394,000 tons compared to 322,000 tons in the first nine months of 2007. Sales of fabricated concrete reinforcing steel were 669,000 tons compared to 385,000 in the first nine months of 2007.

In September, Nucor’s board of directors declared a supplemental dividend of $0.20 per share in addition to the $0.32 per share base dividend. The total dividend of $0.52 per share is payable on November 11, 2008 to stockholders of record on September 30, 2008. The payment of a supplemental dividend in any future period will depend upon many factors, including Nucor’s earnings, cash flow and financial position.

In August, Nucor’s wholly owned subsidiary, Harris Steel, Inc., acquired all of the issued and outstanding common shares of Ambassador Steel Corporation (“Ambassador”) for a cash purchase price of approximately $185 million. At closing, Harris Steel also repaid Ambassador’s bank debt of approximately $136 million. Based in Auburn, Indiana, Ambassador is a fabricator and distributor of concrete reinforcing steel and related products.

Also in August, Nucor’s wholly owned subsidiary, The David J. Joseph Company, completed the acquisition of substantially all the assets of the American Compressed Steel operations of Secondary Resources, Inc. American Compressed Steel has facilities in Kansas City, St. Joseph and Sedalia, Missouri, and processes nearly 180,000 tons annually. DJJ is now operating these facilities under the Advantage Metals Recycling, LLC name.

Page 2 of 6

Nucor Executive Offices: 1915 Rexford Road, Charlotte, North Carolina 28211

Phone 704-366-7000 Fax 704-362-4208 www.nucor.com

News Release      

NUCOR REPORTS RECORD RESULTS FOR THIRD QUARTER AND FIRST NINE MONTHS OF 2008 (Continued)

In July, Nucor completed the acquisition of 50% of the stock of Duferdofin - Nucor S.r.l., for the purchase price of approximately $667.0 million. Duferdofin - Nucor S.r.l. operates a steel melting and bloom/billet caster in San Zeno as well as rolling mills in Pallanzeno and Giammoro. Total production in 2007 was approximately one million tons. A new merchant bar mill, which is expected to produce approximately 450,000 tons, is under construction at the Giammoro plant and is expected to be fully operational in late 2008.

In July, Nucor announced its plans to install a plate heat treating facility at its plate mill in Hertford County, North Carolina. The heat treat line will have an estimated annual capacity of 120,000 tons and will have the ability to produce heat treated plate from 3/16" through 2" thick. Total cost of the project is expected to be approximately $110 million.

Discussions between Sidenor S. A. of Greece (ATH:SID) and Nucor concerning the possible formation of a joint venture between the companies continue in a cooperative and friendly nature.  However, the current turmoil in the world financial markets has delayed the completion of this effort.  Both Sidenor and Nucor expect to conclude our discussions when the future outlook becomes clearer.

Entering the fourth quarter, the global economy has been negatively impacted by the crisis in the financial markets. What started out as a seasonal slowdown - due to temporary global market disruptions such as the six-month China Olympics effect and the Middle Eastern religious holidays - has now been overwhelmed by a worldwide financial crisis that is unique in both size and scope in our lifetime.  The business environment has obviously become significantly more challenging for everyone including Nucor. There is little forward visibility on either the economy or our industry, even for the fourth quarter. These conditions are such that financial projections are not practical. Therefore, we will not be providing numerical or qualitative guidance at this time. We will give an update of our business at the normal time midway between our quarterly earnings releases.

What we can say is that 2008 will be another record year for Nucor and today our competitive position is stronger than ever, both here and globally. If recent initiatives by the world’s governments to stabilize financial markets are successful, then businesses should see significantly improved access to credit and resulting improved business conditions beginning early in 2009. We are still strong believers in the long-term strength of the global infrastructure build and the associated bull market for steel. It is this global growth in steel demand that will help drive Nucor’s growth and profitability.

Headquartered in Charlotte, N.C., Nucor makes more steel in America than any other company. Nucor and affiliates are manufacturers of steel products, with operating facilities primarily in the U.S. and Canada. Products produced include: carbon and alloy steel - in bars, beams, sheet and plate; steel joists and joist girders; steel deck; fabricated concrete reinforcing steel; cold finished steel; steel fasteners; metal building systems; light gauge steel framing; steel grating and expanded metal; and wire and wire mesh. Nucor also brokers ferrous and nonferrous metals, pig iron and HBI/DRI; supplies ferro-alloys; and processes ferrous and nonferrous scrap. Nucor is North America's largest recycler.

Page 3 of 6

Nucor Executive Offices: 1915 Rexford Road, Charlotte, North Carolina 28211

Phone 704-366-7000 Fax 704-362-4208 www.nucor.com

News Release      

NUCOR REPORTS RECORD RESULTS FOR THIRD QUARTER AND FIRST NINE MONTHS OF 2008 (Continued)

Certain statements contained in this news release are “forward-looking statements” that involve risks and uncertainties. Factors that might cause the Company’s actual results to differ materially from those anticipated in forward-looking statements include, but are not limited to: (1) the sensitivity of the results of our operations to prevailing steel prices and the changes in the supply and cost of raw materials, including scrap steel; (2) market demand for steel products; (3) energy costs and availability; (4) competitive pressure on sales and pricing, including pressure from imports and substitute materials; and (5) capital investments and their impact on our performance. These and other factors are outlined in Nucor’s regulatory filings with the Securities and Exchange Commission, including those in Nucor’s December 31, 2007 Annual Report on Form 10-K. The forward-looking statements contained in this news release speak only as of this date, and Nucor does not assume any obligation to update them.

You are invited to listen to the live broadcast of Nucor’s conference call in which management will discuss Nucor’s third quarter results on October 16, 2008 at 2:00 p.m. eastern time. The conference call will be available over the Internet at www.nucor.com, under Investor Relations.

Unaudited figures are as follows:

CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS (Unaudited)

(In thousands, except per share data)

	Three Months (13 Weeks) Ended				Nine Months (39 Weeks) Ended
	Sept. 27, 2008		Sept. 29, 2007		Sept. 27, 2008		Sept. 29, 2007
NET SALES	$	7,447,520	$	4,259,221	$	19,512,388	$	12,196,216
COSTS, EXPENSES AND OTHER:
Cost of products sold		5,990,407		3,449,260		15,941,654		9,844,763
Marketing, administrative and
other expenses		215,755		145,470		605,641		430,605
Interest expense (income), net		23,030		3,576		68,109		(607	)
Minority interests		76,213		76,494		255,920		214,653
		6,305,405		3,674,800		16,871,324		10,489,414
EARNINGS BEFORE
INCOME TAXES		1,142,115		584,421		2,641,064		1,706,802
Provision for income taxes		407,525		203,199		915,966		599,701
NET EARNINGS	$	734,590	$	381,222	$	1,725,098	$	1,107,101
NET EARNINGS PER SHARE:
Basic	$	2.32	$	1.30	$	5.73	$	3.71
Diluted	$	2.31	$	1.29	$	5.70	$	3.68
AVERAGE SHARES OUTSTANDING:
Basic		316,713		293,096		301,156		298,468
Diluted		318,168		295,019		302,829		300,600

Page 4 of 6

Nucor Executive Offices: 1915 Rexford Road, Charlotte, North Carolina 28211

Phone 704-366-7000 Fax 704-362-4208 www.nucor.com

News Release      

NUCOR REPORTS RECORD RESULTS FOR THIRD QUARTER AND FIRST NINE MONTHS OF 2008 (Continued)

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited)

(In thousands)

	Sept. 27, 2008			Dec. 31, 2007
Assets
CURRENT ASSETS:
Cash and cash equivalents	$	1,654,336		$	1,393,943
Short-term investments		24,856			182,450
Accounts receivable, net		2,553,128			1,611,844
Inventories		3,145,706			1,601,600
Other current assets		254,954			283,412
Total current assets		7,632,980			5,073,249
PROPERTY, PLANT AND EQUIPMENT, NET		4,075,020			3,232,998
GOODWILL		1,787,998			847,887
OTHER INTANGIBLE ASSETS, NET		999,636			469,936
OTHER ASSETS		840,913			202,052
TOTAL ASSETS	$	15,336,547		$	9,826,122
Liabilities and stockholders' equity
CURRENT LIABILITIES:
Short-term debt	$	14,979		$	22,868
Long-term debt due within one year		180,400			-
Accounts payable		1,711,893			691,668
Federal income taxes payable		83,837			-
Salaries, wages and related accruals		617,837			436,352
Accrued expenses and other current liabilities		513,028			431,148
Total current liabilities		3,121,974			1,582,036
LONG-TERM DEBT DUE AFTER ONE YEAR		3,086,200			2,250,300
DEFERRED CREDITS AND OTHER LIABILITIES		659,726			593,423
MINORITY INTERESTS		292,174			287,446
STOCKHOLDERS' EQUITY:
Common stock		149,621			149,302
Additional paid-in capital		1,619,245			256,406
Retained earnings		7,865,365			6,621,646
Accumulated other comprehensive income,
net of income taxes		63,279			163,362
		9,697,510			7,190,716
Treasury stock		(1,521,037	)		(2,077,799	)
Total stockholders' equity		8,176,473			5,112,917
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$	15,336,547		$	9,826,122

Page 5 of 6

Nucor Executive Offices: 1915 Rexford Road, Charlotte, North Carolina 28211

Phone 704-366-7000 Fax 704-362-4208 www.nucor.com

News Release      

NUCOR REPORTS RECORD RESULTS FOR THIRD QUARTER AND FIRST NINE MONTHS OF 2008 (Continued)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited)

(In thousands)

	Nine Months (39 Weeks) Ended
	Sept. 27, 2008			Sept. 29, 2007
Operating activities:
Net earnings	$	1,725,098		$	1,107,101
Adjustments:
Depreciation		354,291			298,280
Amortization		51,056			15,437
Stock-based compensation		38,428			33,875
Deferred income taxes		(111,536	)		(91,191	)
Minority interests		255,914			214,651
Settlement of derivative hedges		19,837			(13,207	)
Changes in assets and liabilities (exclusive of acquisitions):
Accounts receivable		(437,792	)		(239,401	)
Inventories		(1,083,823	)		(128,436	)
Accounts payable		199,364			167,549
Federal income taxes		163,514			71,598
Salaries, wages and related accruals		165,016			(54,430	)
Other		(17,117	)		8,857
Cash provided by operating activities		1,322,250			1,390,683
Investing activities:
Capital expenditures		(806,152	)		(330,586	)
Sale of interest in affiliates		-			29,500
Investment in affiliates		(704,945	)		(27,913	)
Disposition of plant and equipment		8,676			804
Acquisitions (net of cash acquired)		(1,827,165	)		(1,410,677	)
Purchases of investments		(234,461	)		(276,945	)
Proceeds from the sale of investments		392,055			1,687,578
Proceeds from currency derivative contracts		1,441,863			517,241
Settlement of currency derivative contracts		(1,424,291	)		(511,394	)
Cash used in investing activities		(3,154,420	)		(322,392	)
Financing activities:
Net change in short-term debt		(143,480	)		(66,461	)
Proceeds from the issuance of long-term debt		989,715			-
Bond issuance costs		(6,938	)		-
Issuance of common stock		1,995,921			10,430
Excess tax benefits from stock-based compensation		10,600			9,500
Distributions to minority interests		(252,569	)		(231,520	)
Cash dividends		(493,002	)		(549,606	)
Acquisition of treasury stock		(7,684	)		(754,029	)
Cash provided by (used in) financing activities		2,092,563			(1,581,686	)
Increase (decrease) in cash and cash equivalents		260,393			(513,395	)
Cash and cash equivalents - beginning of year		1,393,943			785,651
Cash and cash equivalents - end of nine months	$	1,654,336		$	272,256

Page 6 of 6

Nucor Executive Offices: 1915 Rexford Road, Charlotte, North Carolina 28211

Phone 704-366-7000 Fax 704-362-4208 www.nucor.com