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  COMPLETION  OF  STOCK  PURCHASE
AND  STOCK  REDEMPTION  TRANSACTIONS

     Kokomo,  Indiana, January 29, 1997 - Haynes International, Inc. announced
today  that  Haynes  Holdings,  Inc.,  its parent corporation, has completed a
stock  purchase  transaction  with  Blackstone  Capital  Partners  II Merchant
Banking  Fund  L.P.  and  certain of its affiliates ("Blackstone") and a stock
redemption  transaction  with MLGA Fund II, L.P. and MLGAL Partners, L.P., the
principal  investors  in  Haynes  Holdings,  which together with certain other
agreements  will  result  in  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.

     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.