EXHIBIT  20.01
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HAYNES  INTERNATIONAL,  INC.
1020  W.  PARK  AVENUE
P.  O.  BOX  9013
KOKOMO,  IN    46904-9013




FOR  IMMEDIATE  RELEASE
CONTACT:            JOSEPH  F.  BARKER
TELEPHONE:        (317)  456-6004



     HAYNES  INTERNATIONAL,  INC.
     ANNOUNCES  POSSIBLE  SALE  OF  CONTROLLING
     INTEREST  IN  PARENT  COMPANY

     Kokomo,  Indiana,  January 7, 1997 - Haynes International, Inc. announced
today  that  MLGA  Fund  II,  L.P.  and  MLGAL  Partners,  L.P., the principal
investors  in its parent corporation, Haynes Holdings, Inc., have entered into
an  agreement  in  principle  pursuant to which Blackstone Capital Partners II
Merchant  Banking  Fund  L.P.  and  certain  of  its  affiliates would acquire
approximately  79.9%  of  the common stock of Haynes Holdings, Inc. for $10.15
per  share.

     Consummation of the transaction is subject to the execution of definitive
documentation  and  to the receipt of required regulatory approvals.  Although
there  can  be  no  assurance that a definitive agreement will be reached, the
transaction  is  expected  to  close  in  the  first  quarter  of  1997.

     Haynes  International,  Inc.,  based  in  Kokomo,  Indiana,  develops,
manufactures  and  markets  technologically  advanced, high performance alloys
primarily  for  use  in  the  aerospace  and  chemical  processing industries.

     The  Blackstone  Group is a private investment bank based in New York and
founded  in  1985  by  Peter G. Peterson, its current Chairman, and Stephen A.
Schwarzman,  its current Chief Executive Officer.  The Blackstone Group's main
businesses  include  strictly  friendly  principal  investments,  real  estate
investing  and  asset  management,  restructuring  and  merger and acquisition
advisory services.  Blackstone Capital Partners II Merchant Banking Fund L.P.,
the  firm's  principal  investment  vehicle, has approximately $1.3 billion of
committed  equity  capital.