Universal Stainless to Webcast Year End Conference Call

BRIDGEVILLE, Pa., Jan. 8, 2002 -- Universal Stainless & Alloy Products, Inc. (Nasdaq:USAP) announced today that it will release fourth quarter and full year 2001 financial results on Tuesday, January 22, 2002. In conjunction with the earnings release, the Company will host a conference call at 10 a.m. (EST) on January 22. 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 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 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 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