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TIMET Completes Supply Agreement With Rolls-Royce plc

25 January 1999

TIMET Completes Supply Agreement With Rolls-Royce plc

    DENVER, Jan. 25 -- Titanium Metals Corporation ("TIMET")
announced that it has completed a ten-year supply agreement with
Rolls-Royce plc, one of the world's leading manufacturers of airplane engines
and engine components.
    Pursuant to the agreement, TIMET will supply a substantial portion of the
titanium needs of Rolls-Royce for the next ten years.  As part of the
agreement, the companies are committed to working together to lower the cost
of producing titanium and improve the quality of titanium, the benefits of
which will be shared by the two companies.
    Commenting on the new agreement, J. Landis Martin, Chairman and Chief
Executive Officer of TIMET, noted, "TIMET is pleased to have been recognized
by one of our key aerospace customers, Rolls-Royce, as its strategic supplier
in titanium for the term of this agreement.  From TIMET's perspective, we
believe this important agreement with Rolls-Royce will help reduce the
volatility of our business and increase our production volumes over the course
of the aerospace business cycle.  The agreement will also give us the
foundation for working closely together long-term as an integral part of the
Rolls-Royce supply chain on important areas such as cost reduction and quality
and service improvements and, in this way, enable us to improve and build on
what has already been a solid relationship of long-standing between our two
companies."
    Rolls-Royce plc is a global company meeting present and future
requirements of civil aerospace, defense and energy markets, with facilities
in 14 countries and customers in 135 countries.  It has more than
55,000 engines in service with 300 airlines, 2,400 corporate and utility
operators and more than 100 armed forces.  As the pioneer of gas turbine
technology for aerospace, power generation and marine propulsion, Rolls-Royce
is today involved in the major future programs in these fields, including the
Trent aerospace and industrial engines, the Eurofighter Typhoon and Joint
Strike Fighter combat engines and the WR21 marine engine.  Information about
Rolls-Royce is available on the worldwide web at http://www.rolls-royce.com.
    TIMET, headquartered in Denver, Colorado, is a leading worldwide
integrated producer of titanium metal products.  Information about TIMET is
available on the worldwide web at http://www.timet.com.
    The statements in this release relating to matters that are not historical
facts are forward looking statements that involve risks and uncertainties,
including but not limited to, the cyclicality of the commercial aerospace
industry, future global economic conditions, global productive capacity,
competitive products, cost reductions, quality and service improvements,
business volatility, production volumes, and other risks and uncertainties
included in TIMET's filings with the Securities and Exchange Commission.