Universal Stainless to Webcast Conference Call on Acquisition

BRIDGEVILLE, Pa., Feb. 14, 2002 -- Universal Stainless & Alloy Products, Inc. (Nasdaq:USAP) announced today that it will webcast a conference call to discuss its acquisition of the assets of Empire Specialty Steel, Inc., announced earlier today. The conference call is scheduled at 10:00 A.M. (EST) tomorrow, February 15. 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