Allegheny Technologies Announces Public Common Stock Offering.

PITTSBURGH -- Allegheny Technologies Incorporated (NYSE:ATI) announced today that it is making a public offering of 10 million shares of its common stock under its effective shelf registration statement. The underwriters have the option to purchase for a period of 30 days up to 1.5 million additional shares to cover over-allotments.

ATI intends to use net proceeds from the offering to enhance its abilities to make opportunistic growth-oriented investments and to strengthen its balance sheet, which may include making voluntary contributions to its defined benefit pension plan and reducing outstanding debt securities.

JPMorgan and Citigroup are acting as joint book-running managers for the common stock offering with Banc of America Securities and Merrill Lynch acting as co-managers.

A preliminary prospectus supplement related to the public offering will be filed with the Securities and Exchange Commission. When available, copies of the preliminary prospectus supplement related to the offering may be obtained from J.P. Morgan Securities Inc., Prospectus Department, One Chase Manhattan Plaza, Floor 5B, New York, NY 10081 or Citigroup Global Markets Inc., Prospectus Department, Brooklyn Army Terminal, 8th Floor, 140 58th Street, Brooklyn, NY 11220.

This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on management's current expectations and are subject to uncertainties and changes in circumstances. Actual results may differ materially from those expressed or implied 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. We assume no duty to update our forward-looking statements.

Allegheny Technologies Incorporated is one of the largest and most diversified specialty materials producers in the world with revenues of approximately $1.9 billion in 2003. The Company has approximately 9,000 full-time employees world-wide and its talented people use innovative technologies to offer growing global markets a wide range of specialty materials. High-value products include nickel-based and cobalt-based alloys and superalloys, titanium and titanium alloys, specialty steels, super stainless steel, exotic alloys, which include zirconium, hafnium and niobium, tungsten materials, and highly engineered strip and Precision Rolled Strip(R) products. In addition, we produce commodity specialty materials such as stainless steel sheet and plate, silicon and tool steels, and forgings and castings. The Allegheny Technologies website can be found at www.alleghenytechnologies.com.