Allegheny Technologies Announces 30% Dividend Increase, and Voluntary Pension Contribution

PITTSBURGH--Allegheny Technologies Incorporated today announced actions designed to continue to increase shareholder value. The Board of Directors increased ATI’s quarterly dividend by 30% to $0.13 per share. In addition, ATI made a voluntary contribution of $100 million to its U.S. defined benefit pension plan on November 30, 2006.

“Our core growth markets remain strong, and we are well-positioned to achieve continued profitable growth in 2007 and beyond,” said L. Patrick Hassey, Chairman, President, and Chief Executive Officer. “With a strong financial position and prospects for profitable growth, we are confident in ATI’s ability to generate the cash flow necessary to self-fund ATI’s proactive growth strategy, increase shareholder return, and improve ATI’s balance sheet.”

The new quarterly dividend rate of $0.13 per share of common stock is payable on December 29, 2006, to stockholders of record at the close of business on December 22, 2006.

This news release contains forward-looking statements. These statements are based on management's current expectations and are subject to uncertainty and changes in circumstances. Actual results may differ materially from those projected in the forward-looking statements. Information concerning factors that could cause actual results to differ materially from those projected in the forward-looking statements is contained in Allegheny Technologies' filings with the Securities and Exchange Commission.

Building the World’s Best Specialty Metals Company™

Allegheny Technologies Incorporated is one of the largest and most diversified specialty metals producers in the world with revenues of $4.4 billion during the most recent four quarters ending September 30, 2006. ATI has approximately 9,300 full-time employees world-wide who use innovative technologies to offer growing global markets a wide range of specialty metals solutions. Our major markets are aerospace and defense, chemical process industry/oil and gas, electrical energy, medical, automotive, food equipment and appliance, machine and cutting tools, and construction and mining. Our products include titanium and titanium alloys, nickel-based alloys and superalloys, stainless and specialty steels, zirconium, hafnium, and niobium, tungsten materials, grain-oriented silicon electrical steel and tool steels, and forgings and castings. The Allegheny Technologies website is www.alleghenytechnologies.com.