Universal Stainless to Webcast Conference Call on Third Quarter Estimate Revision

BRIDGEVILLE, Pa., Sept. 17, 2002 -- Universal Stainless & Alloy Products, Inc. (Nasdaq:USAP) announced today that it will hold a conference call at 9 a.m. (EDT) today, Tuesday, September 17, in conjunction with its press release this morning reporting its reduced Third Quarter 2002 outlook. The call will be broadcast simultaneously over the Internet. Listeners can access the conference call live over the Internet at www.univstainless.com. Please allow 10 minutes prior to the call to visit the site to download and install any necessary audio software. After the call has taken place, its archived version will be available at this web site.

About Universal Stainless & Alloy Products, Inc.

Universal Stainless & Alloy Products, Inc., headquartered in Bridgeville, Pa., 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 original equipment manufacturers, service centers, forgers, rerollers and wire redrawers.

CONTACT:  Universal Stainless & Alloy Products, Inc., Bridgeville
          Richard M. Ubinger, Vice President of Finance,
           Chief Financial Officer and Treasurer
          (412) 257-7606

          Comm-Partners LLC
          June Filingeri
          (203) 972-0186