EXHIBIT 99.1


                            FELDMAN SHERB & CO., P.C.
                                805 THIRD AVENUE
                          NEW YORK, NEW YORK 10022-7613






September 4, 2001



Securities and Exchange Commission
Mail Stop 11-3
450 Fifth Street, NW
Washington, DC 20549

Dear Sir or Madam:

We have read Item 4 in the Form 8-K for Alloy Steel  International,  Inc.,  with
date of report of August 14,  2001 and filed with the  Securities  and  Exchange
Commission,  August 16, 2001, and are in agreement with the statements contained
therein  insofar as they  relate to our firm.  We have no basis of  agreeing  or
disagreeing  with  the  statements  made in  paragraph  (a)(2)  relating  to the
appointment of new independent accountants.

Very truly yours,


/s/ Feldman Sherb & Co., P.C.


Feldman Sherb & Co., P.C.