Metalico Closes Stock Offering

CRANFORD, NJ--(Marketwire - August 14, 2009) - Metalico, Inc. (NYSE Amex: MEA), today
announced the closing of its previously announced sale of six million
shares of its common stock.

The offering resulted in net proceeds of approximately $25.1 million after
the underwriting commission. The stock was sold by the underwriter to the
public at $4.40 per share.

Metalico applied approximately $17.3 million of the net proceeds to repay a
portion of its outstanding institutional term debt accruing interest at a
rate of 14% per annum, saving the Company approximately $2.4 million
annually in interest costs. The remaining net proceeds of the offering
will be used for working capital and other general corporate purposes.

The stock was sold pursuant to an underwriting agreement with Canaccord
Adams Inc. acting as the sole book-running manager for the offering. The
Company has also granted the underwriter a thirty-day option to purchase up
to an additional 600,000 shares of common stock to cover over-allotments,
if any.

The offering was made pursuant to an effective shelf registration statement
filed with the Securities and Exchange Commission (the "SEC"). Before
investing, interested parties should read the base prospectus in the shelf
registration statement, the prospectus supplement, and other documents
Metalico has filed with the SEC for more complete information about the
Company and this offering.

The offering may be made only by means of a prospectus supplement and the
accompanying prospectus, copies of which may be obtained by sending a
request to the offices of Canaccord Adams Inc., Attn: Syndicate Department,
99 High Street, 12th Floor, Boston, MA 02110, phone: (800) 225-6201.
Alternatively, these documents are available for free by visiting EDGAR on
the SEC website at www.sec.gov.

This press release shall not constitute an offer to sell, or the
solicitation of an offer to buy, any of the securities, nor shall there be
any sale of these securities in any state in which such offer, solicitation
or sale would be unlawful prior to registration or qualification under the
securities laws of any such state.

Metalico, Inc. is a holding company with operations in two principal
business segments: recycling of ferrous and non-ferrous scrap metal,
including precious metals, and fabrication of lead-based products. The
Company operates twenty recycling facilities in New York, Pennsylvania,
Ohio, West Virginia, New Jersey, Texas, and Mississippi and four lead
fabricating plants in Alabama, Illinois, and California. Metalico's common
stock is traded on NYSE Amex under the symbol MEA.

Forward-looking Statements

This news release contains "forward-looking statements" made pursuant to
the safe harbor provisions of the Private Securities Litigation Reform Act
of 1995. Forward-looking statements include statements with respect to
Metalico's beliefs, plans, objectives, goals, expectations, anticipations,
assumptions, estimates, intentions, and future performance, and involve
known and unknown risks, uncertainties and other factors, which may be
beyond Metalico's control, and which may cause Metalico's actual results,
performance or achievements to be materially different from future results,
performance or achievements expressed or implied by such forward-looking
statements. Factors that could cause such material difference are
discussed in more detail in the Company's most recent Annual Report on Form
10-K and other filings with the SEC. All statements other than statements
of historical fact are statements that could be forward-looking statements.
Metalico assumes no obligation to update the information contained in this
news release.