X0201 3 2004-02-18 0 0000807877 BAYOU STEEL CORP N/A 0001282729 SOMERS TIM A C/O FINANCIAL MANAGEMENT ADVISORS, LLC 1900 AVENUE OF THE STARS, SUITE 900 LOS ANGELES, CA 90067 1 0 0 0 Common Stock 125750 I See footnote Mr. Somers may be deemed to be the indirect beneficial owner of the 125,750 shares of common stock owned by FMA CBO Funding II ("CBO II") and FMA CBO Funding III, LTD. ("CBO III") in his capacity as the Senior Vice President and Portfolio Manager of Financial Management Advisors, Inc. ("FMA"). FMA receives an annual management fee from CBO II in an amount equal to 0.25%, and from CBO III in an amount equal to 0.1875%, of the value of assets under management in exchange for FMA's provision of management services to each such fund. Mr. Somers disclaims beneficial ownership of such shares of common stock. Nothing in this Form 3 shall be construed as an admission that he is, for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or otherwise, the beneficial owner of any securities reported on this Form 3, except to the extent of his pecuniary interest in any such securities. Tim A. Somers 2004-03-04