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 Chairman and CEO Adopts 10b5-1 Trading Plan
BRIDGEVILLE, PA, August 1, 2007--Universal Stainless & Alloy Products, Inc.
(Nasdaq: USAP) today announced that Clarence M. McAninch, Chairman and Chief
Executive Officer, has adopted a pre-arranged, non-discretionary stock trading
plan to sell a portion of his currently owned Company stock systematically over
time as part of his individual long-term strategy for asset diversification and
estate planning. The stock trading plan was adopted in accordance with
guidelines specified under Rule 10b5-1 of the Securities and Exchange Act of
1934, as amended, and the Company's policies regarding stock transactions by
insiders.
Rule 10b5-1 allows corporate officers and directors to adopt written,
pre-arranged stock trading plans when they are not in possession of material,
non-public information. Using these plans, insiders can gradually diversify
their investment portfolios, by spreading stock trades out over an extended
period of time to reduce any market impact, while avoiding concerns about the
initiation of stock transactions when in possession of material non-public
information.
Subject to the terms of the plan, Mr. McAninch may sell up to 50,000 shares
of the Company's stock over a period of nine weeks.
The transactions under this plan will commence no earlier than August 6,
2007 and will be disclosed publicly through Form 144 and Form 4 filings with the
Securities and Exchange Commission.
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 rerollers, forgers, service
centers, original equipment manufacturers and wire redrawers.
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 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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