UNIVERSAL STAINLESS & ALLOY PRODUCTS, INC.
               600 Mayer Street o Bridgeville, Pennsylvania 15017

                             CONTACTS:    Richard M. Ubinger
                                          Vice President of Finance,
                                          Chief Financial Officer and Treasurer
                                          (412) 257-7606
FOR IMMEDIATE RELEASE
                                          Comm-Partners LLC
                                          June Filingeri
                                          (203) 972-0186


               UNIVERSAL STAINLESS PROVIDES UPDATE ON BRIDGEVILLE
                               LABOR NEGOTIATIONS

     BRIDGEVILLE,  PA, November 20, 2002 - Universal Stainless & Alloy Products,
Inc.  (Nasdaq:USAP)  reported today that the members of Local 3403 of the United
Steelworkers  of America  (USWA)  representing  the  employees at the  Company's
facility in Bridgeville, PA have rejected an offer from management that included
increased wages and other benefits.  At this time the employees continue to work
under a day-to-day  extension of a prior  agreement,  which otherwise would have
expired August 31, 2002. The Company's facilities in Dunkirk, NY and Titusville,
PA are covered by separate collective bargaining agreements.

     Mac McAninch,  President and Chief Executive  Officer,  commented:  "We are
committed to working with the USWA to obtain an  agreement  for our  Bridgeville
employees."

ABOUT UNIVERSAL STAINLESS & ALLOY PRODUCTS, INC.

     Universal Stainless & Alloy Products,  Inc.,  headquartered in Bridgeville,
PA,  manufactures  and  markets  a broad  line  of  semi-finished  and  finished
specialty  steels,  including  stainless  steel,  tool steel and  certain  other
alloyed  steels.   The  Company's   products  are  sold  to  original  equipment
manufacturers, service centers, forgers, rerollers and wire redrawers.

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UNIVERSAL STAINLESS PROVIDES BRIDGEVILLE LABOR UPDATE- Page 2 -


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,  RISKS
ASSOCIATED  WITH THE  ACQUISITION OF THE EMPIRE  SPECIALTY  STEEL ASSETS AND THE
SUCCESSFUL  START-UP OF DUNKIRK  SPECIALTY STEEL LLC, RISKS  ASSOCIATED WITH THE
NEGOTIATION OF A NEW COLLECTIVE  BARGAINING  AGREEMENT WITH THE HOURLY EMPLOYEES
AT THE BRIDGEVILLE  FACILITY,  RISKS  ASSOCIATED  WITH THE RECEIPT,  PRICING AND
TIMING OF FUTURE CUSTOMER  ORDERS,  RISKS RELATED TO THE FINANCIAL  VIABILITY OF
CUSTOMERS,  RISKS  ASSOCIATED  WITH THE  MANUFACTURING  PROCESS  AND  PRODUCTION
YIELDS,  AND RISKS RELATED TO PROPERTY,  PLANT AND  EQUIPMENT.  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.

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