X0201 42004-01-1600000795665METAL MANAGEMENT INC mtlm0001230115DIENST DANIEL W500 NORTH DEARBORN ST.SUITE 405CHICAGOIL606101100Chairman of the Board and CEOCommon Stock2004-01-164A0250000.00000A260000.0000DNon-Qualified Stock Option52.50002004-01-164A050000.00000A2004-01-162014-01-16Common Stock50000.000050000.0000DNon-Qualified Stock Option70.00002004-01-164A050000.00000A2004-01-162014-01-16Common Stock50000.000050000.0000DRepresents a restricted stock award which vests in four equal annual installments beginning March 31, 2005./s/ Daniel Dienst2004-01-21