WORTHINGTON INDUSTRIES INC
LETTER AGREEMENT
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<DESCRIPTION>LETTER AGREEMENT
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 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="right"><FONT FACE="Times New Roman" SIZE="2"><B>Exhibit 10.18 </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT
SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2">PNC Bank, National Association </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT
FACE="Times New Roman" SIZE="2">One PNC Plaza </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2">249 Fifth Avenue </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT
FACE="Times New Roman" SIZE="2">Pittsburgh, Pennsylvania 15222-2707 </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman"
SIZE="2">November 24, 2004 </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="justify"><FONT FACE="Times New Roman" SIZE="2">Worthington Receivables Corporation
</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="justify"><FONT FACE="Times New Roman" SIZE="2">1205 Dearborn Drive </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="justify"><FONT FACE="Times New Roman" SIZE="2">Columbus,
Ohio 43085 </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="justify"><FONT FACE="Times New Roman" SIZE="2">Attention: Randal I. Rombeiro </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="justify"> <P ALIGN="justify"><FONT FACE="Times New Roman" SIZE="2">Re:</FONT></P></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify"><FONT FACE="Times New Roman" SIZE="2"><U>Extension of Facility Termination Date</U> </FONT></P></TD></TR></TABLE> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px" ALIGN="justify"><FONT FACE="Times New Roman" SIZE="2">Ladies and Gentlemen: </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%" ALIGN="justify"><FONT FACE="Times New Roman" SIZE="2">Reference is hereby made to that Receivables Purchase Agreement, dated as of November 30, 2000 (as amended, amended and restated, or
otherwise modified from time to time, the &#147;<U>Agreement</U>&#148;), among each of the undersigned hereto. Terms used herein and not defined herein shall have the meanings set forth in the Agreement. </FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%" ALIGN="justify"><FONT FACE="Times New Roman" SIZE="2">As you have requested pursuant to <U>Section 1.10</U> of the
Agreement, we hereby agree to extend the Facility Termination Date to November 23, 2005. Accordingly, clause (a) of the definition of &#147;Facility Termination Date&#148; as set forth in Exhibit I to the Agreement is hereby amended by replacing the
date &#147;November 24, 2004&#148; with the date &#147;November 23, 2005&#148; therein. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"
ALIGN="justify"><FONT FACE="Times New Roman" SIZE="2">If the foregoing is acceptable to you, please execute the enclosed copies of this letter and return them to the undersigned. Your execution of this letter shall constitute your representation and
warranty that all necessary corporate action has been taken to extend the Facility Termination Date contemplated hereby. This letter may be executed in counterparts and shall be effective following our receipt of the fully executed counterpart
hereto and once the Seventh Amendment to the Market Street Funding Corporation Liquidity Asset Purchase Agreement and the Third Amendment to the Liberty Street Funding Corp. Liquidity Asset Purchase Agreement become effective. </FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2">(Continued on following page) </FONT></P>



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 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%" ALIGN="justify"><FONT FACE="Times New Roman" SIZE="2">IN WITNESS WHEREOF, the parties have executed this letter as of the date first written
above. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P><DIV ALIGN="right">
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<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-left:1.00em; text-indent:-1.00em" ALIGN="justify"><FONT FACE="Times New Roman" SIZE="2">MARKET STREET FUNDING CORPORATION</FONT></P></TD></TR>
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<TD VALIGN="top" COLSPAN="3"> <P ALIGN="justify"><FONT FACE="Times New Roman" SIZE="2">&nbsp;&nbsp;as a Purchaser</FONT></P></TD></TR>
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<TD HEIGHT="16" COLSPAN="2"></TD></TR>
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<TD VALIGN="top"> <P ALIGN="justify"><FONT FACE="Times New Roman" SIZE="2">By:</FONT></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000"> <P STYLE="margin-left:1.00em; text-indent:-1.00em" ALIGN="justify"><FONT FACE="Times New Roman" SIZE="2">/s/ Evelyn Echevarria</FONT></P></TD></TR>
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<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em" ALIGN="justify"><FONT FACE="Times New Roman" SIZE="2">Name:</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em" ALIGN="justify"><FONT FACE="Times New Roman" SIZE="2">Evelyn Echevarria</FONT></P></TD></TR>
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<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em" ALIGN="justify"><FONT FACE="Times New Roman" SIZE="2">Title:</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em" ALIGN="justify"><FONT FACE="Times New Roman" SIZE="2">Vice President</FONT></P></TD></TR>
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<TD VALIGN="top" COLSPAN="3"> <P ALIGN="justify"><FONT FACE="Times New Roman" SIZE="2">PNC BANK, NATIONAL ASSOCIATION</FONT></P></TD></TR>
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<TD VALIGN="top" COLSPAN="3"> <P ALIGN="justify"><FONT FACE="Times New Roman" SIZE="2">&nbsp;&nbsp;as a Administrator and a Purchase Agent</FONT></P></TD></TR>
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<TD VALIGN="top"> <P ALIGN="justify"><FONT FACE="Times New Roman" SIZE="2">By:</FONT></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000"> <P STYLE="margin-left:1.00em; text-indent:-1.00em" ALIGN="justify"><FONT FACE="Times New Roman" SIZE="2">/s/ John T. Smathers</FONT></P></TD></TR>
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<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em" ALIGN="justify"><FONT FACE="Times New Roman" SIZE="2">Name:</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em" ALIGN="justify"><FONT FACE="Times New Roman" SIZE="2">John T. Smathers</FONT></P></TD></TR>
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<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em" ALIGN="justify"><FONT FACE="Times New Roman" SIZE="2">Title:</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em" ALIGN="justify"><FONT FACE="Times New Roman" SIZE="2">Vice President</FONT></P></TD></TR>
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<TD VALIGN="top" COLSPAN="3"> <P ALIGN="justify"><FONT FACE="Times New Roman" SIZE="2">LIBERTY STREET FUNDING CORP.,</FONT></P></TD></TR>
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<TD VALIGN="top" COLSPAN="3"> <P ALIGN="justify"><FONT FACE="Times New Roman" SIZE="2">&nbsp;&nbsp;as a Purchaser</FONT></P></TD></TR>
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<TD HEIGHT="16" COLSPAN="2"></TD></TR>
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<TD VALIGN="top"> <P ALIGN="justify"><FONT FACE="Times New Roman" SIZE="2">By:</FONT></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000"> <P STYLE="margin-left:1.00em; text-indent:-1.00em" ALIGN="justify"><FONT FACE="Times New Roman" SIZE="2">/s/ Bernard J. Angelo</FONT></P></TD></TR>
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<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em" ALIGN="justify"><FONT FACE="Times New Roman" SIZE="2">Name:</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em" ALIGN="justify"><FONT FACE="Times New Roman" SIZE="2">Bernard J. Angelo</FONT></P></TD></TR>
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<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em" ALIGN="justify"><FONT FACE="Times New Roman" SIZE="2">Title:</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em" ALIGN="justify"><FONT FACE="Times New Roman" SIZE="2">Vice President</FONT></P></TD></TR>
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<TD VALIGN="top" COLSPAN="3"> <P ALIGN="justify"><FONT FACE="Times New Roman" SIZE="2">THE BANK OF NOVA SCOTIA,</FONT></P></TD></TR>
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<TD VALIGN="top" COLSPAN="3"> <P ALIGN="justify"><FONT FACE="Times New Roman" SIZE="2">&nbsp;&nbsp;as a Purchaser Agent</FONT></P></TD></TR>
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<TD HEIGHT="16" COLSPAN="2"></TD></TR>
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<TD VALIGN="top"> <P ALIGN="justify"><FONT FACE="Times New Roman" SIZE="2">By:</FONT></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000"> <P STYLE="margin-left:1.00em; text-indent:-1.00em" ALIGN="justify"><FONT FACE="Times New Roman" SIZE="2">/s/ Norman Las</FONT></P></TD></TR>
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<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em" ALIGN="justify"><FONT FACE="Times New Roman" SIZE="2">Name:</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em" ALIGN="justify"><FONT FACE="Times New Roman" SIZE="2">Norman Las</FONT></P></TD></TR>
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<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em" ALIGN="justify"><FONT FACE="Times New Roman" SIZE="2">Title:</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em" ALIGN="justify"><FONT FACE="Times New Roman" SIZE="2">Managing Director</FONT></P></TD></TR>
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<TD VALIGN="top" COLSPAN="3"> <P ALIGN="justify"><FONT FACE="Times New Roman" SIZE="2">FIFTH THIRD BANK,</FONT></P></TD></TR>
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<TD VALIGN="top" COLSPAN="3"> <P ALIGN="justify"><FONT FACE="Times New Roman" SIZE="2">&nbsp;&nbsp;as a Purchaser Agent and as a Purchaser</FONT></P></TD></TR>
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<TD VALIGN="top"> <P ALIGN="justify"><FONT FACE="Times New Roman" SIZE="2">By:</FONT></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000"> <P STYLE="margin-left:1.00em; text-indent:-1.00em" ALIGN="justify"><FONT FACE="Times New Roman" SIZE="2">/s/ Brian J. Gardner</FONT></P></TD></TR>
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<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em" ALIGN="justify"><FONT FACE="Times New Roman" SIZE="2">Name:</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em" ALIGN="justify"><FONT FACE="Times New Roman" SIZE="2">Brian J. Gardner</FONT></P></TD></TR>
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<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em" ALIGN="justify"><FONT FACE="Times New Roman" SIZE="2">Title:</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em" ALIGN="justify"><FONT FACE="Times New Roman" SIZE="2">AVP</FONT></P></TD></TR>
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<TD VALIGN="top" COLSPAN="3"> <P ALIGN="justify"><FONT FACE="Times New Roman" SIZE="2">ACKNOWLEDGED as of the date</FONT></P></TD></TR>
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<TD VALIGN="top" COLSPAN="3"> <P ALIGN="justify"><FONT FACE="Times New Roman" SIZE="2">first written above:</FONT></P></TD></TR>
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<TD VALIGN="top" COLSPAN="3"> <P ALIGN="justify"><FONT FACE="Times New Roman" SIZE="2">WORTHINGTON&nbsp;RECEIVABLES&nbsp;CORPORATION</FONT></P></TD></TR>
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<TD VALIGN="top" COLSPAN="3"> <P ALIGN="justify"><FONT FACE="Times New Roman" SIZE="2">&nbsp;&nbsp;as Seller</FONT></P></TD></TR>
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<TD HEIGHT="16" COLSPAN="2"></TD></TR>
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<TD VALIGN="top"> <P ALIGN="justify"><FONT FACE="Times New Roman" SIZE="2">By:</FONT></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000"> <P STYLE="margin-left:1.00em; text-indent:-1.00em" ALIGN="justify"><FONT FACE="Times New Roman" SIZE="2">/s/ Randal I. Rombeiro</FONT></P></TD></TR>
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<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em" ALIGN="justify"><FONT FACE="Times New Roman" SIZE="2">Name:</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em" ALIGN="justify"><FONT FACE="Times New Roman" SIZE="2">Randal I. Rombeiro</FONT></P></TD></TR>
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<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em" ALIGN="justify"><FONT FACE="Times New Roman" SIZE="2">Title:</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em" ALIGN="justify"><FONT FACE="Times New Roman" SIZE="2">Treasurer</FONT></P></TD></TR>
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