Precision Castparts Corp. Approves $750 Million Share Repurchase Program

Precision Castparts Corp. Approves $750 Million Share Repurchase Program

PORTLAND, Ore., Jan. 24, 2013 (GLOBE NEWSWIRE) -- The Board of Directors of
Precision Castparts Corp. (NYSE:PCP) has approved a $750 million program to
repurchase shares of PCP's common stock, effective immediately and continuing
through June 30, 2015.

"This share repurchase program demonstrates our confidence in our growth and
cash generation expectations," said Mark Donegan, chairman and chief executive
officer of Precision Castparts Corp. "The program size will enable us to
offset the dilution from the exercise of stock options and the operation of
our employee stock purchase program, both of which are critical to our
employee compensation plans.However, the primary use for our cash remains our
continued pursuit of a full pipeline of strategic, value-creating acquisitions
to complement our aerospace and power portfolios."

Repurchases under the Company's program will be made in open market or
privately negotiated transactions in compliance with Securities and Exchange
Commission Rule 10b-18, subject to market conditions, applicable legal
requirements, and other relevant factors. This share repurchase plan does not
obligate Precision Castparts Corp. to acquire any particular amount of common
stock, and it may be suspended at any time at the Company's discretion.
Precision Castparts Corp. had approximately 146.2 million shares of Common
Stock outstanding as of December 30, 2012.

Precision Castparts Corp. is a worldwide, diversified manufacturer of complex
metal components and products.It serves the aerospace, power, and general
industrial markets.PCC is the market leader in manufacturing large, complex
structural investment castings, airfoil castings, forged components and highly
engineered, critical fasteners for aerospace applications. The Company is
also the leading producer of airfoil castings for the industrial gas turbine
market. In addition, PCC manufactures extruded seamless pipe, fittings,
forgings, and clad products for power generation and oil & gas applications;
commercial and military airframe aerostructures; and metal alloys and other
materials to the casting, forging, and other industries.

The Precision Castparts Corp. logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=8204

Information included within this press release describing the projected growth
and future results and events constitutes forward-looking statements, within
the meaning of the Private Securities Litigation Reform Act of 1995. Actual
results in future periods may differ materially from the forward-looking
statements because of a number of risks and uncertainties, including but not
limited to fluctuations in the aerospace, power generation, and general
industrial cycles; the relative success of our entry into new markets;
competitive pricing; the financial viability of our significant customers; the
concentration of a substantial portion of our business with a relatively small
number of key customers; the impact on the Company of customer or supplier
labor disputes; demand, timing and market acceptance of new commercial and
military programs, including the Boeing 787; the availability and cost of
energy, raw materials, supplies, and insurance; the cost of pension and
postretirement medical benefits; equipment failures; product liability claims;
relations with our employees; our ability to manage our operating costs and to
integrate acquired businesses in an effective manner, including the ability to
realize expected synergies; misappropriation of our intellectual property
rights; governmental regulations and environmental matters; risks associated
with international operations and world economies; the relative stability of
certain foreign currencies; the impact of adverse weather conditions or
natural disasters; the availability and cost of financing; and implementation
of new technologies and process improvements. Any forward-looking statements
should be considered in light of these factors. We undertake no obligation to
update any forward-looking information to reflect anticipated or unanticipated
events or circumstances after the date of this document.

Precision Castparts Corp.'s press releases are available on the Internet at
GlobeNewswire's website – http://www.globenewswire.com or PCC's home page at
http://www.precast.com.If you wish to be removed from this list, please reply
to Unsubscribe@precastcorp.com.

CONTACT: Dwight Weber, Director of Communications (503) 946-4855
         Website: http://www.precast.com

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