Exhibit 99.1

Underwriters Exercise Over-Allotment Option on Allegheny Technologies
Common Stock Offering

    PITTSBURGH--(BUSINESS WIRE)--July 27, 2004--Allegheny Technologies
Incorporated (NYSE:ATI) announced today that, in connection with the
previously announced sale of 12,000,000 shares of common stock, the
underwriters have exercised their over-allotment option and will
purchase from Allegheny Technologies an additional 1,800,000 shares at
$17.50 per share. This completes the recent common stock offering
whereby a total of 13,800,000 shares were sold with net proceeds to
Allegheny Technologies of approximately $230 million, after taking
into account expenses associated with the transaction.
    JPMorgan and Citigroup acted as joint book-running managers for
the common stock offering with Banc of America Securities and Merrill
Lynch acting as co-managers.
    This press release shall not constitute an offer to sell or the
solicitation of an offer to buy nor shall there by any sale or an
offer to buy these securities in any state in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state.
    A final prospectus supplement dated July 22, 2004, relating to
these securities was filed with the Securities and Exchange
Commission. Copies of the final prospectus supplement and accompanying
prospectus relating to the offering may be obtained from J.P. Morgan
Securities Inc., Prospectus Department, One Chase Manhattan Plaza,
Floor 5B, New York, NY 10081 or Citigroup Global Markets Inc.,
Prospectus Department, Brooklyn Army Terminal, 8th Floor, 140 58th
Street, Brooklyn, NY 11220.
    This news release contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995. These
statements are based on management's current expectations and are
subject to uncertainties and changes in circumstances. Actual results
may differ materially from those expressed or implied in the
forward-looking statements. Additional information concerning factors
that could cause actual results to differ materially from those
projected in the forward-looking statements is contained in Allegheny
Technologies' filings with the Securities and Exchange Commission. We
assume no duty to update our forward-looking statements.
    Allegheny Technologies Incorporated is one of the largest and most
diversified specialty materials producers in the world with revenues
of approximately $1.9 billion in 2003. The Company has approximately
9,000 full-time employees world-wide and its talented people use
innovative technologies to offer growing global markets a wide range
of specialty materials. High-value products include nickel-based and
cobalt-based alloys and superalloys, titanium and titanium alloys,
specialty steels, super stainless steel, exotic alloys, which include
zirconium, hafnium and niobium, tungsten materials, and highly
engineered strip and Precision Rolled Strip(R) products. In addition,
we produce commodity specialty materials such as stainless steel sheet
and plate, silicon and tool steels, and forgings and castings. The
Allegheny Technologies website can be found at
www.alleghenytechnologies.com.

    CONTACT: Allegheny Technologies Incorporated
             Dan L. Greenfield, 412-394-3004