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

FOR IMMEDIATE RELEASE
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               UNIVERSAL STAINLESS REPORTS ON NASDAQ NOTIFICATION

     BRIDGEVILLE, PA, June 28, 2007 - Universal Stainless & Alloy Products, Inc.
(Nasdaq:  USAP)  announced  today that due to the recent  retirement  of one its
independent  directors  who also  served on its  Audit  Committee,  it  received
notification on June 25, 2007 from Nasdaq Listing Qualifications indicating that
the Company no longer  complies with Nasdaq's audit committee  requirements  set
forth in  Marketplace  Rule 4350.  The Rule requires  that the  Company's  Audit
Committee be comprised of at least three members, each of whom is independent.

     As reported in its Proxy  Statement  filed with the  Securities  & Exchange
Commission  on April 27,  2007,  the Company has been  searching  actively for a
qualified director to fill the vacancy created by the retirement of George Keane
from the Company's Board of Directors and its Audit  Committee  effective May 15
under the Company's mandatory retirement policy.

     Consistent  with  Marketplace  Rule  4350(d)(4),  Nasdaq is  providing  the
Company a cure period in order to regain  compliance.  The cure period will last
until the earlier of May 15,  2008 or the  Company's  next annual  stockholders'
meeting, which is expected to occur in May 2008.

     The Company  noted that it intends to regain  compliance  with  Marketplace
Rule 4350 prior to the termination of the cure period.

About Universal Stainless & Alloy Products, Inc.
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     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 rerollers,  forgers,  service
centers, original equipment manufacturers and wire redrawers.

Forward-Looking Information Safe Harbor
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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 receipt, pricing and timing of future customer orders,
risks  associated with significant  fluctuations  that may occur in raw material
and energy prices,  risks associated with the manufacturing  process,  labor and
production  yields,  risks related to property,  plant and equipment,  and risks
related to the ultimate outcome of the Company's  current and future  litigation
and regulatory matters.  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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