Allegheny Technologies Announces Natural Gas Surcharges for Allegheny Ludlum Products.

Business Editors

PITTSBURGH--(BUSINESS WIRE)--Jan. 30, 2001

Allegheny Technologies Incorporated (NYSE:ATI) announced that Allegheny Ludlum, an ATI company, is implementing natural gas surcharges on all stainless and super stainless steel, exhaust alloy, tool steel, and silicon electrical steel product forms effective with shipments on February 12, 2001.

These surcharges, which are being implemented as a result of volatile and higher energy costs, will vary among different product forms and grades.

The amount of the surcharge is designed to reflect natural gas consumed in manufacturing and will be calculated by comparing the previous month's average settlement price for natural gas as quoted by the NYMEX, to a base rate of $2.20 per thousand cubic feet (MCF). For stainless and super stainless steel, exhaust alloy, and silicon electrical steel product forms, the difference between the NYMEX average settlement price and the base rate will be multiplied by $0.01 per pound. For tool steel, the multiplier will be $0.015 per pound. For example, a typical NYMEX average settlement price of $7.20 per MCF would yield a surcharge for Type 304 stainless steel sheet of $0.05 per pound.

Allegheny Ludlum, an Allegheny Technologies company, is a world leader in the production and marketing of sheet, plate and strip specialty materials including stainless steel, nickel-based alloys, titanium and titanium-based alloys. The company also produces grain-oriented silicon electrical steel products and tool steel plate. Allegheny Ludlum's website can be found at www.alleghenyludlum.com.

This news release contains forward-looking statements. These statements are based on management's current expectations and are subject to uncertainty and changes in circumstances. Actual results may differ materially from those projected in the forward-looking statements. Additional information concerning factors that could cause actual results to differ materially from those projected in the forward-looking statements is contained in Allegheny Technologies' filings with the Securities and Exchange Commission.

Allegheny Technologies Incorporated is one of the largest and most diversified producers of specialty materials in the world. Our talented people use innovative technologies to offer growing global markets a wide range of specialty materials including stainless steel, nickel-based and cobalt-based alloys and superalloys, titanium and titanium alloys, specialty steel alloys, zirconium and related alloys, and tungsten-based specialty materials. Our goal is to be the low cost, high quality supplier to global markets. Allegheny Technologies' website can be found at http://www.alleghenytechnologies.com.