Allegheny Technologies Inc. is making a public offering of 10 million shares of its common stock under its effective shelf registration statement. Over a 30-day period, the underwriters have the option to purchase 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’ Prospectus Department or Citigroup Global Markets’ Prospectus Department.

Allegheny Technologies Inc. is one of the largest and most diversified specialty materials producers in the world with revenues of approximately $1.9 billion in 2003. 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^® products. Commodity specialty materials include stainless steel sheet and plate, silicon and tool steels, and forgings and castings.