Universal Stainless & Alloy Products, Inc. Announces Price Increase

BRIDGEVILLE, PA, March 29, 2000 -- Universal Stainless &Alloy Products, Inc. (Nasdaq:USAP) announced today that it willincrease transaction prices by 5% on all stainless steel barproducts effective with orders placed April 1, 2000. According toCompany officials, the increase is required to offset higher rawmaterial and energy costs.

Universal Stainless & Alloy Products, Inc., headquartered in Bridgeville, Pa., manufactures and markets 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 and original equipment manufacturers, which primarily include the power generation and aerospace industries.

Except for historical information contained herein, thestatements in this release are forward-looking statements thatare made pursuant to the safe harbor provisions of the PrivateSecurities Litigation Reform Act of 1995. Forward-lookingstatements involve known and unknown risks and uncertaintieswhich may cause the Company's actual results in future periods todiffer materially from forecasted results. Those risks include,among others, risks associated with the receipt and timing offuture customer orders, risks associated with the manufacturingprocess and production yields, risks related to property, plantand equipment. Certain of these risks and other risks aredescribed in the Company's filings with the Securities andExchange Commission (SEC) over the last 12 months, copies ofwhich are available from the SEC or may be obtained upon requestfrom the Company.

 CONTACT:        Universal Stainless & Alloy Products, Inc.    
                 Clarence "Mac" McAninch
                 President & CEO
                 (412) 257-7600

                 Morgen-Walke Associates
                 Gordon McCoun, Eric Boyriven
                 Media contact: Brian Maddox
                 (212) 850-5600