Court Confirms PTCAlliance Corp. Plan of Reorganization

Company Targets Emerging From Chapter 11 by the End of July

WEXFORD, Pa., July 18 -- PTCAlliance Corp., a leading manufacturer and marketer of welded and cold drawn mechanical steel tubing and tubular shapes, fabricated parts and precision components and chrome plated steel bars, announced today that the U.S. Bankruptcy Court for the Western District of Pennsylvania has entered an order confirming the company's Prepackaged Plan of Reorganization, which was filed with the Court on May 10, 2006 in conjunction with PTCAlliance's voluntary Chapter 11 petition. At a hearing held on July 13, 2006 in Pittsburgh, U.S. Bankruptcy Court Judge Thomas P. Agresti ruled that PTCAlliance had met all of the necessary statutory requirements to confirm its Plan. With this action, PTCAlliance is set to complete its restructuring and expects to emerge from Chapter 11 by the end of July 2006.

"We are obviously very pleased with the Court's approval of our Prepackaged Plan of Reorganization," said Peter Whiting, Chairman and Chief Executive Officer of PTCAlliance. "We confirmed our Plan in 63 days, which is a remarkable achievement. The result is a testament to the outstanding effort put forth by the senior management team, PTCAlliance's employees, our Board of Directors, our senior lenders and outside professionals led by Eric Schaffer of the Pittsburgh office of Reed Smith LLP. All of these groups contributed greatly to the successful restructuring of PTCAlliance and should be commended for their efforts."

Under the Prepackaged Plan of Reorganization, PTCAlliance's senior lenders will exchange their prepetition debt for all of the equity in the reorganized company. In addition, the company's senior lenders have agreed to provide PTCAlliance with a $70 million exit financing credit facility to fund the company's operations upon emergence from Chapter 11.

"Our new exit financing provided by our senior lenders should allow PTCAlliance to emerge from Chapter 11 as a well-capitalized company with a solid balance sheet. With the new capital structure, we are now poised to take advantage of the fundamental strength of our businesses. I look forward to working with the new Board, our employees and our business partners to achieve the company's full potential," Whiting said.

Upon emergence, Mr. Whiting will remain as Chairman, President and CEO of PTCAlliance and no senior management changes are expected as a result of the restructuring.

Mr. Whiting added, "I am pleased that we were able to meet our commitment to completing this debt restructuring with minimal disruption to our business. All of our suppliers have continued to be paid in full on normal terms throughout the Chapter 11 process and there have been no changes in the way we do business with our customers. We look forward to continuing our relationships with our business partners for many years to come."

For more information on the Chapter 11 restructuring, please visit the Bankruptcy Court web site: http://www.pawb.uscourts.gov/ (a PACER account is required to access the site); or http://www.loganandco.com/ .

About PTCAlliance Corp.

PTCAlliance Corp. is a leading manufacturer and marketer of welded and cold drawn mechanical steel tubing and tubular shapes, fabricated parts and precision components and chrome plated steel bars. Major markets include steel service centers, automotive and truck, construction and agricultural equipment, machinery and appliances.