Universal Stainless to Webcast Second Quarter Conference Call

BRIDGEVILLE, Pa., June 29, 2001 -- Universal Stainless & Alloy Products, Inc. (Nasdaq:USAP) announced today that it will release its financial results for the second quarter ended June 30, 2001, on Thursday, July 19, 2001. In conjunction with this release, the Company will host a conference call that will be broadcast simultaneously over the Internet on Thursday, July 19, 2001, at 10 a.m. (EDT).

Listeners can access the conference call live over the Internet at www.univstainless.com. Please allow 15 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 may be accessed at this Website.

About Universal Stainless & Alloy Products, Inc.

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.

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