Universal Stainless & Alloy Products, Inc. will recognize Other Income of $507,000 ($0.05 per diluted share) in the fourth quarter of 2004 for the receipt of 2004 import duties received from the U.S. Customs Service in accordance with the Continued Dumping and Subsidy Offset Act of 2000 (CDSOA). The CDSOA provides for payment of the duties collected by the U.S. Treasury to domestic companies injured by unfair foreign trade practices.

This amount is in addition to Other Income of $565,000 ($0.06 per diluted share) recognized in the 2004 third quarter for the delayed receipt of remaining 2003 import duties awarded the company under the CDSOA. The company received a total of $575,000 ($0.06 per share) from import duties for 2003.

Headquartered in Bridgeville, Pa., Universal Stainless & Alloy Products, Inc. manufactures and markets a broad line of semi-finished and finished specialty steels, including stainless steel, tool steel and certain other alloyed steels. Products are sold to original equipment manufacturers, service centers, forgers, rerollers and wire redrawers.