<SUBMISSION>
<ACCESSION-NUMBER>0000950123-09-051855
<TYPE>8-K
<PUBLIC-DOCUMENT-COUNT>2
<PERIOD>20091021
<ITEMS>2.02
<ITEMS>7.01
<ITEMS>9.01
<FILING-DATE>20091021
<DATE-OF-FILING-DATE-CHANGE>20091021
<FILER>
<COMPANY-DATA>
<CONFORMED-NAME>ALLEGHENY TECHNOLOGIES INC
<CIK>0001018963
<ASSIGNED-SIC>3317
<IRS-NUMBER>251792394
<STATE-OF-INCORPORATION>DE
<FISCAL-YEAR-END>1231
</COMPANY-DATA>
<FILING-VALUES>
<FORM-TYPE>8-K
<ACT>34
<FILE-NUMBER>001-12001
<FILM-NUMBER>091129788
</FILING-VALUES>
<BUSINESS-ADDRESS>
<STREET1>1000 SIX PPG PLACE
<CITY>PITTSBURGH
<STATE>PA
<ZIP>15222
<PHONE>4123942800
</BUSINESS-ADDRESS>
<MAIL-ADDRESS>
<STREET1>100 SIX PPG PLACE
<CITY>PITTSBURGH
<STATE>PA
<ZIP>15222
</MAIL-ADDRESS>
<FORMER-COMPANY>
<FORMER-CONFORMED-NAME>ALLEGHENY TELEDYNE INC
<DATE-CHANGED>19960716
</FORMER-COMPANY>
</FILER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>l37827e8vk.htm
<DESCRIPTION>FORM 8-K
<TEXT>
<HTML>
<HEAD>
<TITLE>e8vk</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
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<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 1pt solid black; font-size: 1pt">&nbsp;</DIV>








<DIV align="center" style="font-size: 14pt; margin-top: 12pt"><B>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION</B>
</DIV>

<DIV align="center" style="font-size: 12pt"><B>Washington, DC 20549</B>
</DIV>

<DIV align="center" style="font-size: 18pt; margin-top: 12pt"><B>FORM 8-K</B>
</DIV>


<DIV align="center" style="font-size: 12pt; margin-top: 12pt"><B>CURRENT REPORT<BR>
Pursuant to Section&nbsp;13 or 15(d) of the Securities Exchange Act of 1934</B>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><B>
Date of Report (Date of earliest event reported) October&nbsp;21, 2009</B>
</DIV>

<DIV align="center" style="font-size: 24pt; margin-top: 12pt"><B>Allegheny Technologies Incorporated</B>
</DIV>

<DIV align="center" style="font-size: 10pt">
(Exact name of registrant as specified in its charter)</DIV>


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="30%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="30%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="30%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="center" valign="top">Delaware
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">1-12001
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">25-1792394</TD>
</TR>
<TR style="font-size: 1px">
    <TD align="center" valign="top" style="border-top: 1px solid #000000">&nbsp;
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top" style="border-top: 1px solid #000000">&nbsp;
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">(State or other jurisdiction <BR>
of incorporation)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">(Commission<BR>
File Number)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">(IRS Employer<BR>
Identification No.)</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="47%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="47%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="center" valign="top">1000 Six PPG Place, Pittsburgh, Pennsylvania
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">15222-5479</TD>
</TR>
<TR style="font-size: 1px">
    <TD align="center" valign="top" style="border-top: 1px solid #000000">&nbsp;
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">(Address of principal executive offices)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">(Zip Code)</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Registrant&#146;s telephone number, including area code ( <U>412) 394-2800</U></DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="100%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="100%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="center" valign="top">N/A</TD>
</TR>
<TR style="font-size: 1px">
    <TD align="center" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">(Former name or former address, if changed since last report).</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the
filing obligation of the registrant under any of the following provisions:</DIV>

<DIV align="left" style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; background: transparent; color: #000000">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD></TD>
</TR>

<TR>
    <TD valign="top"><FONT face="Wingdings">&#111;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>Written communications pursuant to Rule&nbsp;425 under the Securities Act (17 CFR 230.425)
</TD>
</TR>
</TABLE>
</DIV>

<DIV align="left" style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; background: transparent; color: #000000">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD></TD>
</TR>

<TR>
    <TD valign="top"><FONT face="Wingdings">&#111;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>Soliciting material pursuant to Rule&nbsp;14a-12 under the Exchange Act (17 CFR 240.14a-12)
</TD>
</TR>
</TABLE>
</DIV>

<DIV align="left" style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; background: transparent; color: #000000">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD></TD>
</TR>

<TR>
    <TD valign="top"><FONT face="Wingdings">&#111;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>Pre-commencement communications pursuant to Rule&nbsp;14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
</TD>
</TR>
</TABLE>
</DIV>

<DIV align="left" style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; background: transparent; color: #000000">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD></TD>
</TR>

<TR>
    <TD valign="top"><FONT face="Wingdings">&#111;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>Pre-commencement communications pursuant to Rule&nbsp;13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
</TD>
</TR>
</TABLE>
</DIV>


<DIV style="width: 100%; border-bottom: 1pt solid black; margin-top: 10pt; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>







<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">







<!-- link2 "Item&nbsp;2.02. Results of Operations and Financial Condition." -->

<DIV align="left" style="margin-top: 12pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; background: transparent; color: #000000">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD></TD>
</TR>
<TR valign="top">
    <TD nowrap align="left"><B>Item&nbsp;2.02.</B></TD>
    <TD>&nbsp;</TD>
    <TD><B>Results of Operations and Financial Condition.</B></TD>
</TR>
</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On October&nbsp;21, 2009, Allegheny Technologies Incorporated held its third quarter 2009 earnings
conference call, broadcast live by webcast. The conference call script is attached as Exhibit&nbsp;99.1
and is being furnished, not filed, under Item&nbsp;2.02 of this Current Report on Form 8-K.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Certain statements in the script contain &#147;forward-looking statements&#148; within the
meaning of the Private Securities Litigation Reform Act of 1995. Certain statements in the script
relate to future events and expectations and, as such, constitute forward-looking
statements. Forward-looking statements are based on management&#146;s current expectations and include
known and unknown risks, uncertainties and other factors, many of which we are unable to predict or
control, that may cause our actual results, performance or achievements to materially differ from
those expressed or implied in the forward-looking statements. Important factors that could cause
actual results to differ materially from those in the forward-looking statements include: (a)
material adverse changes in economic or industry conditions generally, including credit market
conditions and related issues, and global supply and demand conditions and prices for our specialty
metals; (b)&nbsp;material adverse changes in the markets we serve, including the aerospace and defense,
electrical energy, chemical process industry, oil and gas, medical, automotive, construction and
mining, and other markets; (c)&nbsp;our inability to achieve the level of cost savings, productivity
improvements, synergies, growth or other benefits anticipated by management, including those
anticipated from strategic investments, whether due to significant increases in energy, raw
materials or employee benefits costs, the possibility of project cost overruns or unanticipated
costs and expenses, or other factors; (d)&nbsp;volatility of prices and availability of supply of the
raw materials that are critical to the manufacture of our products; (e)&nbsp;declines in the value of
our defined benefit pension plan assets or unfavorable changes in laws or regulations that govern
pension plan funding; (f)&nbsp;significant legal proceedings or investigations adverse to us; (g)&nbsp;other
risk factors summarized in our Annual Report on Form 10-K for the year ended December&nbsp;31, 2008, and
in other reports filed with the Securities and Exchange Commission. We assume no duty to update our
forward-looking statements.
</DIV>
<!-- link2 "Item&nbsp;7.01. Regulation&nbsp;FD." -->

<DIV align="left" style="margin-top: 12pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; background: transparent; color: #000000">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD></TD>
</TR>
<TR valign="top">
    <TD nowrap align="left"><B>Item&nbsp;7.01.</B></TD>
    <TD>&nbsp;</TD>
    <TD><B>Regulation&nbsp;FD.</B></TD>
</TR>
</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The disclosure furnished above under Item&nbsp;2.02 is hereby incorporated by reference into and
furnished under this Item&nbsp;7.01.
</DIV>
<!-- link2 "Item&nbsp;9.01. Financial Statements and Exhibits" -->

<DIV align="left" style="margin-top: 12pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; background: transparent; color: #000000">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD></TD>
</TR>
<TR valign="top">
    <TD nowrap align="left"><B>Item&nbsp;9.01.</B></TD>
    <TD>&nbsp;</TD>
    <TD><B>Financial Statements and Exhibits</B></TD>
</TR>
</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;Exhibits.
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Exhibit&nbsp;99.1 Script for Allegheny Technologies Incorporated third quarter 2009 earnings
conference call.</TD>
</TR>

</TABLE>
</DIV>
<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">



</TABLE>
</DIV>
<!-- link1 " <U>SIGNATURE</U>" -->

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><U><B>SIGNATURE</B></U>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly
caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
</DIV>

<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left">ALLEGHENY TECHNOLOGIES INCORPORATED<BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000" align="left">                   <I>/s/ Jon D. Walton</I>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">Jon D. Walton&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">Dated:  October 21, 2009&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">Executive Vice President, Human Resources,
Chief Legal and Compliance Officer&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">


<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>

</TABLE>
<!-- link1 " <U>EXHIBIT INDEX</U>" -->

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><U><B>EXHIBIT INDEX</B></U>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="84%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>Exhibit No.</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" style="border-bottom: 1px solid #000000"><B>Description</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="left" valign="top">Exhibit&nbsp;99.1
</TD>
    <TD valign="top" style="font-size: 10pt">&nbsp;</TD>
    <TD valign="top" style="font-size: 10pt"><DIV style="margin-left:0px; text-indent:-0px">Script for Allegheny Technologies Incorporated third quarter 2009 earnings conference
call.</DIV></TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>



<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>




</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>l37827exv99w1.htm
<DESCRIPTION>EX-99.1
<TEXT>
<HTML>
<HEAD>
<TITLE>exv99w1</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->


<DIV style="font-family: Helvetica,Arial,sans-serif">


<DIV align="right" style="font-size: 10pt; margin-top: 12pt"><B>Exhibit&nbsp;99.1</B>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt">Q3 2009 Conference Call Script</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 6pt">October&nbsp;21, 2009 1:00 p.m.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Dan Greenfield:
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Thank you. Good afternoon and welcome to the Allegheny Technologies earnings conference call for
the third quarter 2009.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">This conference call is being broadcast on our website at www.alleghenytechnologies.com. Members
of the media have been invited to listen to this call.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Participating in the call today are Pat Hassey, Chairman, President, and Chief Executive Officer,
and Rich Harshman, Executive Vice President, Finance and Chief Financial Officer.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">All references to net income and earnings in this conference call mean net income and earnings
&#147;attributable to ATI common stockholders&#148;.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">After some initial comments, we will ask for questions. During the question and answer session,
please limit yourself to two questions to be considerate of others on the line.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Please note that all forward-looking statements this afternoon are subject to various assumptions
and caveats as noted in the earnings release. Actual results may differ materially.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Here is
Pat Hassey.
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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<DIV style="font-family: Helvetica,Arial,sans-serif">


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Pat Hassey:
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Thanks, Dan. And thank you to everyone listening on today&#146;s call.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Our markets are showing signs of improvement and the worst appears to be behind us. We are
seeing some positive data points in some markets, yet in the short term, our customers continue
to be cautious and most are keeping their inventories low.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Looking at, and comparing our third quarter performance to a more normal period, we like ATI&#146;s
upside potential when our markets recover and our shipment volumes improve. In the third quarter,
we were EPS positive and earned segment operating profit of $54&nbsp;million. This was accomplished
under difficult circumstances:
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">1.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Overall utilization rates of about 50-60% across our operations.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">2.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>A reduction in operating profit of nearly $19&nbsp;million due to idle facility costs,
further severance costs, and new facility start-up costs.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">3.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>A LIFO &#147;catch up&#148; of $22.5&nbsp;million due to rising raw materials costs.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">4.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>And, while our U.S. defined pension plan is fully funded, we recorded $20&nbsp;million
of pension expense, primarily due to the significant negative investment returns in
2008.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">These amounts are all pre-tax.
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->2<!-- /Folio -->
</DIV>

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<DIV style="font-family: Helvetica,Arial,sans-serif">

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">We ended the quarter with $826&nbsp;million of cash on hand. We continue to self-fund our capital
investments. And our balance sheet remains solid giving us financial flexibility.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">We remain focused on continuing to improve our cost structure. Gross cost reductions in the
first nine months of 2009 were over $121&nbsp;million. We expect to exceed our 2009 cost reduction
target of $150&nbsp;million and expect 2009 cost reductions to be the highest in ATI&#146;s history.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Our strategic focus on high-value products continues. Year-to-date sales of our high-value
products were over 79% of total 2009 sales.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Turning to our markets &#151;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">75% of 2009 sales through the third quarter were to our core, global markets. We remain confident
in the intermediate and long-term growth potential of these global markets:
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Aerospace and defense accounted for 32% of nine months 2009 sales;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Electrical energy was 20% of year-to-date sales;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The chemical process industry and oil and gas markets accounted for 19% of sales;
and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The medical market accounted for over 4% of total sales.</TD>
</TR>

</TABLE>
</DIV>

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<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Today, ATI is more globally-focused than at any time in our history. Direct international sales
reached nearly 31% of sales through the third quarter of 2009. For comparison, direct
international sales were 28% of total sales for the full year 2008. We expect this trend to
continue as a result of our focused sales and marketing efforts, which we expect to be further
aided by the weaker dollar in 2010.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Turning to the business segments &#151;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">In the High-Performance Metals segment:
</DIV>

<DIV style="margin-top: 6pt">
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<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Compared to the second quarter 2009, shipments of our titanium-based alloys and
nickel-based superalloys declined 8% and 20%, respectively, due to the ongoing
inventory correction in the aerospace supply chain &#150; for us that is mostly the jet
engine segment of the market. We expect the jet engine forecast to be finalized
and balanced with the current airframe forecast before year&#146;s end.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Shipments of our nuclear-grade zirconium alloys to the nuclear energy market
remained solid. However, total shipments of our exotic alloys declined 23% in the
third quarter 2009, compared to the second quarter 2009, due to the timing of new
projects for chemical processing plant construction, which use our
industrial-grade zirconium alloy.</TD>
</TR>

</TABLE>
</DIV>
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<DIV align="left" style="font-size: 10pt; margin-top: 6pt">In Flat-Rolled Products:
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Third quarter 2009 shipments of our high-value flat-rolled products increased 8% compared to the
second quarter 2009. Some highlights:
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Shipments of our Precision Rolled Strip<SUP style="font-size: 85%; vertical-align: text-top">&#174;</SUP> products improved by over 20% due to
better demand from the global automotive market, the telecommunications and
electronics market in Asia, and the U.S. housing market.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Shipments of our grain-oriented electrical steel products to the global
electrical energy market remained relatively good, due primarily to our long term
agreements with key customers.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>On the other hand, shipments of our flat-rolled titanium products fell by over
60% primarily from project schedule push outs, not cancelations, in global
industrial markets. We expect industrial titanium shipments to begin to improve
in the fourth quarter and continue to improve in 2010.</TD>
</TR>

</TABLE>
</DIV>
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<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Stainless steel demand appears to be in an early stage of recovery.
Third quarter shipments of our standard sheet and plate products increased 7% to of 63,000 tons.
While still low, this represents the best quarterly shipments of 2009. Third quarter shipments
annualized at 250,000 tons is still well below our target of 300,000 to 350,000 tons per year.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">ATI Allegheny Ludlum successfully implemented base-price increases in May, June, and September on
standard stainless coil products.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Industry data released last week indicates that service center inventories of stainless products
remained near low levels in September at a seasonally adjusted rate of 2.6&nbsp;months. Many of our
service center customers tell us that they continue to keep their inventories at low levels in
order to avoid raw material risk and to conserve cash.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">While Flat-Rolled Products segment shipments improved for many of our products, segment operating
income was negatively impacted by a LIFO &#147;catch-up&#148; due to rising raw materials costs, primarily
nickel. In the third quarter, we recorded a $6.8&nbsp;million LIFO charge compared to a $26&nbsp;million
LIFO benefit in both the first and second quarters 2009.
</DIV>

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<DIV align="left" style="font-size: 10pt; margin-top: 6pt">In our Engineered Products segment:
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Volumes remained at very depressed levels during the third quarter. We are beginning to see some
modest improvement. Order entry in the past few weeks is up in most of these businesses.
However, the wind energy market for our cast products is the exception with no improvement.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">2009 has certainly been a challenging year. We have been dealing with the weakest global
economic environment in over 70&nbsp;years. ATI has remained modestly profitable in this environment,
excluding special charges. We continued to make important strategic capital and R&#038;D investments
while strengthening our balance sheet. These accomplishments further differentiate us from our
past, and from most of our global competitors.
</DIV>

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</DIV>

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<DIV align="left" style="font-size: 10pt; margin-top: 6pt">We remain confident in the growth potential for our core global markets because the secular
trends in these market sectors continue to be strong:
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The next generation of airplanes will be more titanium intensive and jet engines are
being designed to be hotter and lighter in order to meet more stringent &#147;green&#148; and fuel
economy standards.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Oil and gas reserves are being found offshore in very deep water, which requires our
high-end specialty metals. BP&#146;s prospect in the Gulf of Mexico is a good example. It
is the deepest well ever drilled by the oil and gas industry. BP reports that this well
was drilled to a total depth of over 35,000 feet, that is over 6-and-a-half miles! We
like deep water development. We like horizontal drilling.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Very large LNG supplies are being developed, such as Chevron and its partners&#146;
enormous Gorgon project in Australia. Again, such projects require significant amounts
of our specialty metals.</TD>
</TR>

</TABLE>
</DIV>
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<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The world is focused on carbon emissions reduction, which provides significant
opportunities for ATI in:</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="8%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">o</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Nuclear electrical power generation, a safe sustainable energy.
The World Nuclear Association reports that 35 reactors are being constructed and
over 100 reactors are planned. ATI Nuclear Energy offers over 300 specialty
metals and other specialty products to this growing global market.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="8%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">o</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The upgrade of the efficiency of the U.S. power distribution grid
and the expansion of power distribution in emerging economies requires our
grain-oriented electrical steel.</TD>
</TR>

</TABLE>
</DIV>
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</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Great companies must have the vision and financial means to improve the company&#146;s position during
economic downturns.
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>During the third quarter we completed several new long-term agreements (LTAs) with
key global customers, and we are working on several more. These agreements, which range
from 2 to 10&nbsp;years in length, are with well-known global customers in the Aerospace and
Defense, Oil and Gas, Electrical Energy, and Medical markets. LTAs offer an excellent
foundation for sustained growth, while developing deeper relationships with our
customers.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="8%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">o</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>One LTA worth mentioning is our new 10-year $750&nbsp;million to $1
billion sourcing agreement with Rolls-Royce that we announced in September.
This agreement covers disc-quality superalloys used in the compressor and hot
sections of the jet engine. These are some of the most difficult jet engine
specialty metals to make.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="8%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">o</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Customers like our class-leading technology, they like our
responsiveness and reliability, and they like that ATI is investing for the
future to support their current and future needs.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="8%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">o</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>During a recent ATI market update, our managing director in the
U.K. shared an example of feedback that he receives from customers. It went
something like this, &#147;The market is very aware of ATI&#146;s continued financial
capability to invest in world-class facilities, and our state-of-the-art
technology, whilst others stall&#148;.</TD>
</TR>

</TABLE>
</DIV>

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<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>We expect to close on the asset acquisition of the Crucible powder business by the
end of October. This is an excellent entry point for ATI into advanced powder metals
and expands our portfolio of offerings.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="8%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">o</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Powder metals are used in the production of complex alloy
chemistries, typically when conventional processes can&#146;t be used.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="8%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">o</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Prices for these products are at the high end of the price range
of our major products. For example, the typical price for nickel-based
superalloy powder metal products for jet engines is in the $50 to $100 per pound
range.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="8%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">o</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>While we have not yet closed on the asset purchase, technical and
marketing people on both sides are excited about the possibilities powder metals
bring to ATI.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="8%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">o</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Powder metals are a growth opportunity for ATI.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="14%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><font face="wingdings">&#167;</font></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>More powders are being used in the latest generation of jet engines
to help meet stringent &#147;green&#148; and fuel efficiency standards.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="14%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><font face="wingdings">&#167;</font></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Powders are used to produce parts as near-net shape to reduce cost
and manufacturing time.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="14%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><font face="wingdings">&#167;</font></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>We expect to invent new alloys and develop new powder metal
applications through ATI&#146;s unsurpassed manufacturing capabilities and
specialty metals technology.</TD>
</TR>

</TABLE>
</DIV>

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<DIV style="margin-top: 6pt">
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<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Advanced powder metals expand our specialty metals product portfolio. In addition,
ATI continues to expand our industry-leading specialty metals menu with new proprietary
alloys, such as:</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="8%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">o</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>(1)&nbsp;An innovative new titanium alloy, (2)&nbsp;a ground-breaking
nickel-based superalloy, (3)&nbsp;and one of the first new armor products released to
the market in over 40&nbsp;years. These products are aimed at improving the
manufacturability of these metals to help customers get to near-net shape
quicker and at reduced costs.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="8%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">o</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Our new duplex stainless alloys use lower amounts of nickel
and/or moly. These products are designed to be more cost effective and
typically provide higher strength and better corrosion resistance than
conventional stainless alloys.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="8%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">o</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>These new products are all aimed at expanding product offerings
and value to our core markets, with a segmented global reach &#150; patented, hard to
produce, and with difficult barriers to entry in regard to new technology
development.</TD>
</TR>

</TABLE>
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</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Finally, a quick update on our major strategic capital projects:</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="8%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">o</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Our Bakers, North Carolina titanium and superalloy forging
facility began production in the third quarter 2009. Customer qualifications
are proceeding. We are pleased with the start-up and expanded product
capabilities of our new forge press and radial forge.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="8%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">o</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>We now expect our Rowley, Utah premium-grade titanium sponge
facility to start up by the end of 2009.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="8%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">o</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The melt shop consolidation at our Brackenridge, Pennsylvania
specialty melt shop is progressing. We reduce a footprint, and we expect
considerable cost savings and production efficiencies from this project when it
is completed in 2010.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="8%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">o</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Engineering, permitting, and site preparation continues on our
Brackenridge, Pennsylvania advanced hot rolling and processing facility.
Demolition of existing buildings on the site began in August.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="8%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">o</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The expansion of our Precision Rolled Strip<SUP style="font-size: 85%; vertical-align: text-top">&#174;</SUP> facility in China is
essentially complete.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="8%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">o</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>We now expect 2009 capital investments and asset acquisitions to
be $475&nbsp;million. This includes the Crucible asset acquisition.</TD>
</TR>

</TABLE>
</DIV>

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</DIV>

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<DIV style="font-family: Helvetica,Arial,sans-serif">

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Now, my closing comment before we take questions.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">We are seeing some positive data points in certain markets. Many customers remain cautious and
are keeping their inventories low. This uncertainty is exaggerated by recent volatility in
prices of raw materials, such as nickel.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Our third quarter orders in Asia were the highest of the year, nearly twice the dollar amount of
the first half 2009. Many of the projects that had been delayed after the financial market
collapse are now coming back on track. We plan to watch this trend closely over the next few
quarters to see if we rebuild a significant backlog.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Europe is also getting better for ATI. We are seeing improving demand from the Oil &#038; Gas market.
But demand from the European aerospace market remains soft.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">To be very clear, recovering volume and the resulting revenue are the necessary keys to
significantly improved financial results for ATI.
</DIV>

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</DIV>

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<DIV style="font-family: Helvetica,Arial,sans-serif">

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Looking ahead into 2010, we expect operating performance to improve compared to 2009. We see
2010 as a transition year to the next growth cycle in most of our core markets.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">We think we are taking the right actions now to make ATI a better company, and to be ready to
meet our customers&#146; needs when the markets recover. As a result, we expect to recover and grow
faster than our core global markets.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Operator, may we have the first question, please.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Q&#038;A Portion of the Conference Call</B>
</DIV>

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</DIV>

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<DIV style="font-family: Helvetica,Arial,sans-serif">

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Dan Greenfield:</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Thank you, Pat. Thanks to all of the listeners for joining us today. That concludes our
conference call.
</DIV>


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