June 6, 2006 — Universal Stainless & Alloy Products, Inc. has announced a 6% base price increase on all premium-melted (vacuum-arc remelted and electro-slag remelted) steels and a 5% base price increase on all air-melted stainless steel products. The price changes will be effective on all shipments scheduled after July 1, 2006.

The company also announced that it will add copper to its raw material surcharge formula effective on all shipments scheduled after July 1, 2006. The base price for the copper element will be $1.00 per pound and the surcharge will be based on the monthly average price reported by the Commodity Exchange (COMEX).

President and CEO, Mac McAninch, commented: "While our raw material and natural gas surcharge mechanisms remain effective, these price increases are necessary to help offset the rising costs of electricity and our manufacturing supply costs, and the additional surcharge is necessary to offset the volatile copper pricing we are currently experiencing."

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. The company's products are sold to rerollers, forgers, service centers, original equipment manufacturers and wire redrawers.