PITTSBURGH--Business Wire--Allegheny Technologies Incorporated NYSE:ATI announced today its intention tooffer concurrently $300 million aggregate principal amount of senior notes due2019 and

PITTSBURGH--(Business Wire)--Allegheny Technologies Incorporated (NYSE:ATI) announced today its intention tooffer concurrently $300 million aggregate principal amount of senior notes due2019 and $350 million aggregate principal amount of convertible notes due 2014.The offerings will be made pursuant to the Company`s shelf registrationstatement filed with the Securities and Exchange Commission on May 26, 2009.Neither the completion of the senior notes offering nor the convertible notesoffering will be contingent on the completion of the other. The interest rateand other financial terms of the senior notes due 2019 will be determined uponthe pricing of such notes. In addition, the interest rate, conversion rate, andother financial terms of the convertible notes will be determined upon thepricing of such convertible notes. ATI also expects to grant the underwritersfor the convertible offering an option to purchase up to an additional $52.5million aggregate principal amount of convertible notes to coverover-allotments. ATI intends to use the net proceeds from the senior notes offering to purchaseany and all of its outstanding 8.375% Notes due 2011 pursuant to the terms of atender offer by ATI for those notes, which is being announced concurrently withthis news release. As of today, there were $300.0 million in aggregate principalamount of ATI`s 8.375% Notes due 2011 outstanding. Any net proceeds of thesenior notes offering not used to purchase the 8.375% Notes will be used forgeneral corporate purposes.

ATI intends to use the net proceeds from the convertible notes offering tomanage its liabilities and other obligations, such as by making voluntarycontributions to its defined benefit pension trust and contributions to trustsestablished to fund retiree medical benefits. Citi and JPMorgan are the joint book-running managers for the senior notesoffering. JPMorgan and Citi are the joint book-running managers for theconvertible note offering. This press release does not constitute an offer to sell or the solicitation ofan offer to buy, nor shall there be any sale of any of the senior notes orconvertible notes in any jurisdiction in which such offer, solicitation or salewould be unlawful prior to registration or qualification under the securitieslaws of any such jurisdiction. A registration statement relating to the seniornotes and convertible notes has been filed with the Securities and ExchangeCommission. Copies of the prospectus and senior notes preliminary prospectus supplementmeeting the requirements of Section 10 of the Securities Act of 1933, asamended, may be obtained from Citi, Prospectus Department, Brooklyn ArmyTerminal, 140 58th Street, 8th Floor, Brooklyn, New York 11220 or by telephoneat 800-831-9146 and at Copies of the prospectus and convertiblenotes preliminary prospectus supplement meeting the requirements of Section 10of the Securities Act of 1933, as amended, may be obtained from JPMorgan,National Statement Processing, Prospectus Library, 4 Chase Metrotech Center, CSLevel, Brooklyn, New York 11245 or by telephone at 718-242-8002 and at. As concurrently announced, ATI`s obligation to accept any 8.375% Notes due 2011tendered in its tender offer and to pay the applicable consideration for themare set forth solely in the related Offer to Purchase and the Letter ofTransmittal.

This news release is neither an offer to purchase nor asolicitation of an offer to sell any 8.375% Notes due 2011. The tender offer ismade only by, and pursuant to the terms of, the Offer to Purchase, and theinformation in this news release is qualified by reference to the Offer toPurchase and the related Letter of Transmittal. Subject to applicable law, ATImay amend, extend or, subject to certain conditions, terminate the tender offer.This news release contains "forward-looking statements" within the meaning ofthe Private Securities Litigation Reform Act of 1995. Certain statements in thisnews release relate to future events and expectations and, as such, constituteforward-looking statements. Forward-looking statements include those containingsuch words as "anticipates," "believes," "estimates," "expects," "would,""should," "will," "will likely result," "forecast," "outlook," "projects," andsimilar expressions. Forward-looking statements are based on management`scurrent expectations and include known and unknown risks, uncertainties andother factors, many of which we are unable to predict or control, that may causeour actual results, performance or achievements to materially differ from thoseexpressed or implied in the forward-looking statements. We assume no duty to update our forward-looking statements.Building the World`s Best Specialty Metals CompanyAllegheny Technologies Incorporated is one of the largest and most diversifiedspecialty metals producers in the world with revenues of $5.3 billion during2008.