Notice to Stockholders:

By now, you should have received the Company's proxy materials for the Annual Meeting of Stockholders to be held on May 3, 2001, including the Company's proxy statement dated March 14, 2001.

We want to remind you that YOUR VOTE IS IMPORTANT and encourage you to vote as soon as possible. You may vote by telephone, Internet or by completing, signing and returning your proxy or voting instruction card. Instructions regarding telephone and Internet voting are provided in the proxy materials previously sent to you.

In addition, below is updated information that amends and replaces the Cumulative Total Stockholder Return graph on page 23 of the Company's proxy statement, with values through March 20, 2001.

CUMULATIVE TOTAL STOCKHOLDER RETURN

The graph set forth below shows the cumulative total stockholder return (i.e., price change plus reinvestment of dividends) on the Common Stock from the first day of trading in the Common Stock following the formation of the Company in the combination of Allegheny Ludlum and Teledyne on August 15, 1996 through December 31, 2000, and through March 20, 2001, as compared to the S&P 500 Index and the S&P Iron & Steel Index. The graph assumes that $100 was invested on August 16, 1996.

                                               ALLEGHENY TECHNOLOGIES INC         S&P 500 INDEX             IRON & STEEL-500
                                               --------------------------         -------------             ----------------
16 Aug-96                                                100.00                      100.00                      100.00
Dec-96                                                   110.93                      112.16                      106.30
Dec-97                                                   127.80                      149.58                      108.15
Dec-98                                                   104.13                      192.33                       93.74
Dec-99                                                    67.29                      232.80                      103.13
Dec-00                                                    49.53                      211.60                       64.88
20 Mar-01                                                 56.83                      183.31                       68.67

On November 29, 1999, the Company completed the Transformation, which included the spin-offs of Teledyne Technologies Incorporated (NYSE: TDY) and Water Pik Technologies, Inc. (NYSE: PIK). In the spin-offs, holders of record on November 22, 1999 received one Teledyne Technologies share for each seven shares of Company Common Stock and one Water Pik share for each twenty shares of Company Common Stock, based on the number of shares of Company Common Stock they held prior to the one-for-two reverse stock split. The above graph does not reflect cumulative total stockholder return for Teledyne and Water Pik since November 29, 1999.