RTI And Boeing Settle Contract Claim.

Business Editors

NILES, Ohio--(BUSINESS WIRE)--April 6, 2000

RTI International Metals, Inc. (NYSE:RTI) announced today that it has settled its 1999 contractual claim for liquidated damages from the Boeing Commercial Airplane Group.

Under the terms of a long-term contract between the companies, Boeing was required to order a minimum of 3.25 million pounds of titanium during 1999. Actual shipments were less than one million pounds. RTI filed a claim with Boeing for approximately $7 million. Following negotiations between the companies, the matter was settled for approximately $6 million.

The settlement will add approximately $0.18 per share to RTI's net income in the 2nd quarter of 2000.

"RTI and Boeing entered into this agreement to better manage the effects of aerospace cycles on their businesses. Boeing received a long-term titanium supply at fixed prices and RTI received a committed level of business. The sudden downturn in Boeing's aircraft production as well as a work stoppage at RTI tested this agreement in its first year. We are pleased that it withstood the test and that both parties remain committed to achieving its original intent. The downturn in aerospace is likely to continue in 2000. So, we are currently looking for ways for Boeing to increase its utilization of RTI'S full range of capabilities: manufacturing, fabrication and distribution," said Timothy G. Rupert, President and CEO.

RTI International Metals, Inc., headquartered in Niles, Ohio, through its various subsidiaries, manufactures and distributes titanium and specialty metal mill products, and extruded shapes, as well as engineered systems for energy-related markets and environmental engineering services. The Company's products are used for aerospace, industrial and consumer applications.