Universal Stainless & Alloy Products Reports That Its Dunkirk Specialty Steel Subsidiary Continues to Operate With Union

Universal Stainless & Alloy Products Reports That Its Dunkirk Specialty Steel
Subsidiary Continues to Operate With Union Employees Beyond Labor Agreement
Expiration

BRIDGEVILLE, Pa., Nov. 1, 2012 (GLOBE NEWSWIRE) -- Universal Stainless & Alloy
Products, Inc. (Nasdaq:USAP) announced today that its Dunkirk Specialty Steel,
LLC subsidiary has agreed with the United Steel Workers (USW) that the Dunkirk
hourly employees, whose collective bargaining agreement was set to expire at
midnight on October 31, 2012, will continue to work at the Company's Dunkirk
facility.The extension provides additional time to negotiate a mutually
acceptable labor agreement.

During the extension, the employees, represented by Local 2693 of the USW,
will continue to work under the terms and conditions of the prior agreement.
The extension is scheduled to expire on November 11, 2012 at midnight.

The Company's other facilities that have employees represented by the USW,
located in Bridgeville, PA and Titusville, PA, are covered by separate
collective bargaining agreements and are not affected by the current
negotiations.

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 used in a variety of industries, including aerospace,
power generation, petrochemical and heavy equipment manufacturing. Established
in 1994, the Company, with its experience, technical expertise, and dedicated
workforce, stands committed to providing the best quality, delivery, and
service possible. More information is available at www.univstainless.com.

Forward-Looking Information Safe Harbor

Except for historical information contained herein, the statements in this
release are forward-looking statements that are made pursuant to the "safe
harbor" provision of the Private Securities Litigation Reform Act of
1995.Forward-looking statements involve known and unknown risks and
uncertainties that may cause the Company's actual results in future periods to
differ materially from forecasted results. Those risks include, among
others,the concentrated nature of the Company's customer base to date and the
Company's dependence on its significant customers; the receipt, pricing and
timing of future customer orders; changes in product mix; the limited number
of raw material and energy suppliers and significant fluctuations that may
occur in raw material and energy prices; risks related to property, plant and
equipment, including the Company's reliance on the continuing operation of
critical manufacturing equipment; risks associated with labor matters; the
Company's ongoing requirement for continued compliance with laws and
regulations, including applicable safety and environmental regulations; the
ultimate outcome of the Company's current and future litigation and matters;
risks related to acquisitions that the Company may make; and the impact of
various economic, credit and market risk uncertainties. Many of these factors
are not within the Company's control and involve known and unknown risks and
uncertainties that may cause the Company's actual results in future periods to
be materially different from any future performance suggested herein.Any
unfavorable change in the foregoing or other factors could have a material
adverse effect on the Company's business, financial condition and results of
operations.Further, the Company operates in an industry sector where
securities values may be volatile and may be influenced by economic and other
factors beyond the Company's control.Certain of these risks and other risks
are described in the Company's filings with the Securities and Exchange
Commission (SEC) over the last 12 months, copies of which are available from
the SEC or may be obtained upon request from the Company.


CONTACT: Dennis Oates
         Chairman,
         President and CEO
         (412) 257-7609
        
         Douglas McSorley
         VP Finance, CFO
         and Treasurer
         (412) 257-7606
        
         June Filingeri
         President
         Comm-Partners LLC
         (203) 972-0186

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