UNIVERSAL STAINLESS ANNOUNCES BASE PRICE INCREASE

[Steelonthenet.com] Universal Stainless & Alloy Products, Inc. (Nasdaq:USAP) today announced base price increases of 3 percent on all air melted and premium melted stainless and high-strength low alloy grade products. The increase on air melted products will be effective with all new orders placed and shipments scheduled on or after September 11, 2006. The increase on premium melted products will be effective with all new orders placed and shipments scheduled on or after January 1, 2007. The material and energy surcharges will remain in effect.

Richard Hack, Vice President of Sales and Marketing, commented, 'While the surcharge mechanism addresses changes in pure commodity costs, other costs not covered have continued to increase as well. These hidden costs have become a more significant share of our total product cost, necessitating this increase in base pricing so we can continue to reinvest in our operations to serve the needs of our customers'.

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 rerollers, forgers, service centers, original equipment manufacturers and wire redrawers.

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