SMCX - RUN-UP HAS BEGUN - SOLID COMPANY JUST DISCOVERED...

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SMCX - RUN-UP HAS BEGUN - SOLID COMPANY JUST DISCOVERED...

An SI Board Since February 1999

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Emcee: TimC	Type: Unmoderated

Introduction Compact

Here's the news that sent this little one rocketing - fundamentally very sound (PE=6,EPS 2.16,NO DEBT, consistent GROWTH) - at this price it's a steal - we'll see 20 again in no time...

Friday February 19, 12:27 pm Eastern Time

Company Press Release

Strike Negotiations Successfully
Completed and Steelworkers
Schedule Vote on Contract

HUNTINGTON, W.Va.--(BUSINESS WIRE)--Feb. 19, 1999--Special Metals Corporation
(NASDAQ: SMCX - news) and United Steelworkers of America Local 40 successfully reached
tentative agreement on Thursday night to end the strike at its West Virginia facility.

On Wednesday, Feb. 24 the Steelworkers' local membership will vote on the agreement. Special
Metals' management expects the contract will be approved by the approximately 840 hourly
workers employed at the Huntington facility, obtained in Special Metals October 1998 acquisition
of Inco Alloys International (IAI).

''We are very pleased with the productive negotiations conducted by representatives of both the
Steelworkers and the Huntington-based management of IAI,'' Special Metals President and Chief
Executive Officer Dr. Donald R. Muzyka said. ''The picket line came down on Thursday night,
and we greatly appreciate the Steelworkers' immediate gesture of good faith.

''This is a very good three-year agreement, and the management of Special Metals and Inco
Alloys International believes it is fair for employees and the Company alike. Based on private and
public statements, we understand the union leadership is satisfied too. We're optimistic about
Wednesday's vote, and look forward to welcoming the Steelworkers back into the plant and
getting operations up to full speed.''

Special Metals is the world's largest and most-diversified producer of high-performance
nickel-based alloys. Its specialty metals are used in some of the world's most technically
demanding industries and applications, including: aerospace, power generation, chemical
processing, oil exploration and medical/dental devices. Through its New Hartford, N.Y.
headquarters, 11 U.S. and European production facilities and a global distribution network,
Special Metals supplies over 5,000 customers and every major world market for
high-performance nickel-based alloys.

The statements in this release relating to matters that are not historical facts are forward-looking
statements that involve risks and uncertainties, including, but not limited to, the duration of the
strike at the Huntington facility, the cyclicality of the aerospace industry, raw material pricing,
future global economic conditions, global productive capacity, competitive products, the ability to
integrate Inco Alloys International into Special Metals Corporation to achieve synergy savings and
other risks and uncertainties detailed in the Company's Securities and Exchange Commission
filings.

Contact:

Special Metals Corporation
Donald C. Darling
Vice President Administration
& Chief Financial Officer
(315) 798-2058
or
Charles S. Freer
Vice President and Director of
Investor Relations & Strategic Planning
(315) 798-2031

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