Tenaris, in carrying out its activities, undertakes to preserve the environment, safety and health ofits personnel, customers, suppliers and the communities with which it interacts.

Tenaris considers this Policy to be integral to its business, and ensures awareness and compliance through the implementation and maintenance ofan Environmental, Safety and Occupational Health Management System.

Tenaris emphasizes the application ofan integrated management control including preservation ofthe environment, health and safety with production, quality, and cost.

Tenaris acknowledges that all its personnel are responsible for the compliance ofthis Policy. Tenaris, in its projects for installations, processes, works, products and services, adopts designs and technologies that are the most appropriate and eco-efficient available at reasonable cost for preserving health, minimizing the risk ofaccidents and impact on the environment, and for ensuring the most efficient use ofresources.

Tenaris considers it essential to train and motivate its personnel, customers, suppliers and the communities with which it interacts in environmental and worker safety practices that encourage participation, involvement and commitment towards accident prevention and the protection ofthe environment.

Tenaris undertakes to regularly assess its compliance with this Policy and to continuously improve its performance, complying or exceeding all applicable legal and other requirements relating to its management of environment, safety and occupational health issues.

Tenaris adheres to the principle of sustainable development as a concept that integrates all its activities in relation to the community and future generations.

December 2003

Paolo Rocca
Chief Executive Officer