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Allegheny Technologies Files
Shelf Registration Statement

March 23, 2004 — Allegheny Technologies Inc. has filed a universal shelf registration statement with the Securities and Exchange Commission relating to the possible issuance of up to $400 million in common stock, preferred stock, warrants, depositary shares, purchase contracts, purchase units, and senior and subordinated debt securities.

ATI does not have any commitments or immediate plans to sell securities under the new registration statement.

The registration statement provides that ATI intends to use the net proceeds from the sale of any securities for general corporate purposes, including but not limited to, repayment, redemption or refinancing of debt, capital expenditures, investments in or loans to subsidiaries and joint ventures, funding of possible acquisitions, for working capital needs, or for satisfaction of other obligations.

A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. Allegheny Technologies cautions that this announcement does not constitute an offer to sell, or the solicitation of an offer to buy, and that there shall not be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state.

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^(R) products. Commodity specialty materials include stainless steel sheet and plate, silicon and tool steels, and forgings and castings.

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