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ATI Executive Committee (standing L to R) Te rry Dunlap Jack Shilling Tom Williams Pat Hassey Lynn Davis Dave Hogan (seated L to R) Rich Harshman Jon Walton Doug Kittenbrink 

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## Message from the Chairman 

To open this year’s annual report, I’ll introduce you to Pat Hassey, our new President and Chief Executive Officer. Pat comes to Allegheny Technologies from Alcoa, Inc. as a 35-year veteran of the metals industry, all with Alcoa. 

His experience is primarily on the fabrication side of metals, including three years as President of Alcoa Europe, SA. He also served as an Executive Vice-President and member of Alcoa’s Executive Committee. Over the years with Alcoa, he gained extensive and deep experience in the Flat-Rolled Products segment of the specialty metals businesses as a Group President, and also chaired Alcoa’s Aerospace Market Sector Lead Team. 

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Pat joined ATI as President and CEO on October 1, 2003, after a short consulting period with the ATI businesses. I believe that Pat along with our management team and employees can do great things for this Company. Earnings must be improved. ATI can become a more effective competitor within our markets, grow in our strategic strengths, and generate increasing value for our customers with profitable growth for our stockholders. 

Pat understands the challenges facing this Company and the markets we serve. He also understands that the future of any enterprise is created through the implementation of a well-understood strategic vision. 

As you know, Jim Murdy retired as President and CEO in September 2003. Jim and I worked closely together during his 15-year career with the Company. I join with the Board in extending to Jim our deep appreciation for his many contributions. 

The Company is evolving and the profile of our Board of Directors is changing. In 2003, Brian Simmons and George Kourpias left our Board of Directors. Both made important contributions to our business through their tenure. Directors Paul Brentlinger, Fred Fetterolf and Bill Ouchi will retire from our Board in May of 2004. Paul and Fred have been members of the Board since Allegheny Ludlum went public in 1987 and have provided guidance and advice to every President and Chairman of the Company. Professor Ouchi’s unique insights into the global markets and economies have aided our strategies. 

In addition, the Board of Directors has nominated H. Kent Bowen and John D.Turner for election to our Board in May. Kent is a professor of business administration at Harvard University and has extensive knowledge of materials and operations management technology. John was Chairman and CEO of Copperweld until his retirement in 2003 and has broad management experience in the metals industry. 

Also in May, Pat Hassey becomes Chairman of Allegheny Technologies. I plan to retire as Chairman after the annual meeting and will remain a member of the Board of Directors. I’ve been with the Company for almost 50 years and have witnessed a lot of change. We started as primarily a domestic stainless steel company and are now a global leader in the technology and production of a wide variety of specialty metals, with operations in 18 countries. I believe that Allegheny Technologies is well positioned for an exciting future. 

Sincerely, 

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