News Release
Jan. 09, 2001

Allegheny Technologies Signs Energy Management Agreement With DukeSolutions

Pittsburgh, PA, January 9, 2001 - Allegheny Technologies Incorporated (NYSE: ATI) announced that it has signed a long-term energy management agreement with DukeSolutions. The agreement covers both energy supply and demand side management and is believed to be the most comprehensive energy alliance in the specialty materials industry.

"We anticipate substantial cost savings as a result of this energy management agreement," said Robert P. Bozzone, Allegheny Technologies chairman, president and chief executive officer. "Our natural gas and electricity expense totals approximately $120 million annually. These costs have become volatile and can vary widely from one region of the country to another. We have engaged DukeSolutions to guide us in the implementation of our company-wide energy supply and demand initiatives, which are aimed at reducing energy costs at all of our domestic facilities located in 12 states."

"Allegheny Technologies has taken the lead in its industry in energy management," said Keith G. Butler, chief operating officer, DukeSolutions. "ATI has aggressive goals to reduce costs from operations and we expect that energy management will play a significant role."

This news release contains forward-looking statements, including those related to cost reductions and savings and actions taken to reduce the impact of volatile energy prices. These statements are based on management's current expectations and are subject to uncertainty and changes in circumstances. Actual results may differ materially from those projected 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.

DukeSolutions, a wholly-owned subsidiary of Duke Energy, helps customers make the most of their assets and increase cash flow and earnings by implementing a full range of energy services including energy supply and logistics, reliability and risk management, on-site utilities, information management, financing, and efficiency and productivity services.

Duke Energy, a diversified multinational energy company, creates value for customers and shareholders through an integrated network of energy assets and expertise. Duke Energy manages a dynamic portfolio of natural gas and electric supply, delivery and trading businesses -- generating revenues of nearly $22 billion in 1999. Duke Energy, headquartered in Charlotte, N.C., is a Fortune 100 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available on the Internet at: www.duke-energy.com.

Allegheny Technologies Incorporated is one of the largest and most diversified producers of specialty materials in the world. Our talented people use innovative technologies to offer growing global markets a wide range of specialty materials including stainless steel, nickel-based and cobalt-based alloys and superalloys, titanium and titanium alloys, specialty steel alloys, zirconium and related alloys, and tungsten-based specialty materials. Our goal is to be the low cost, high quality supplier to global markets. Allegheny Technologies' website can be found at http://www.alleghenytechnologies.com.

 

 

Contact: Dan. L. Greenfield
Phone: 412/394-3004
24 Hour Phone: n/a
Email: n/a
Contact: Rick Wirth
Phone: 704/373-6611
24 Hour Phone: 704/382-8333
Email: rfwirth@duke-energy.com