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ALLEGHENY LUDLUM ISSUES STATEMENT

 PITTSBURGH, Nov. 18 /PRNewswire/ -- Clarifying press reports, Robert P. Bozzone, Allegheny Ludlum's (NYSE: ALS) president and chief executive officer, said today, "We have no immediate need to sell either Green River Steel, an Owensboro, Ky., carbon and alloy bar steel producer, or Reynolds Fasteners, a distributor of standard industrial fasteners headquartered in Edison, N.J. While the Green River and Reynolds Fastener operations do not fit our long-term strategic interests, we will be introducing our management ideas to enhance the value of these operations to optimize our profit opportunities."
 Bozzone noted that Jessop Steel Company, a producer of specialty steel plate, is now being operated as Allegheny Ludlum's Washington, Pa., plant, strengthening the company's market position with the "Jessop" specialty steel plate line of products.
 The Jessop Steel, Green River and Reynolds Fastener operations were acquired as part of the Athlone Industries, Inc. acquisition which was closed on Nov. 10 by Allegheny Ludlum, as previously reported.
 Allegheny Ludlum is a leading producer of a wide range of specialty materials including stainless steels, electrical steels and high technology alloys. The company's common stock trades on the New York Stock Exchange (Symbol: ALS).
 /delval/
 -0- 11/18/93
 /CONTACT: Bert Delano, 412-394-2813, or Dan Greenfield, 412-394-3004, both of Allegheny Ludlum/
 (ALS)


CO: Allegheny Ludlum Corporation ST: Pennsylvania, Kentucky, New Jersey IN: MNG SU:

DM -- PG017 -- 6244 11/18/93 16:55 EST
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Publication:PR Newswire
Date:Nov 18, 1993
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