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  EXECUTION  OF  DEFINITIVE  ACQUISITION  AGREEMENTS

     Kokomo,  Indiana, January 24, 1997 - Haynes International, Inc. announced
today  that  Haynes Holdings, Inc., its parent corporation, has entered into a
Stock  Purchase  Agreement  with  Blackstone Partners II Merchant Banking Fund
L.P.  and  certain  of  its  affiliates  ("Blackstone") and a Stock Redemption
Agreement  with  MLGA  Fund  II,  L.P. and MLGAL Partners, L.P., the principal
investors in Haynes Holdings, which together provide for a recapitalization of
Haynes Holdings through a repurchase by Haynes Holdings of approximately 79.9%
of  its  outstanding  shares of common stock at a price of $10.15 per share in
cash  and  the  purchase  by Blackstone of a like number of shares at the same
price.

     The  United States Department of Justice has granted early termination of
the  statutory  waiting  period  under  the  Hart-Scott-Rodino  Antitrust
Improvements  Act  of 1976, as amended; however, several additional conditions
must  be  satisfied  prior to the closing of the transactions.  Although there
can  be  no assurance that such conditions will be satisfied, the transactions
provided  for  in  the Stock Purchase Agreement are expected to close prior to
the  end  of  the  month.

     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.