FOR IMMEDIATE RELEASE CONTACT:

FOR IMMEDIATE RELEASE July 6, 1998

CONTACT:
Crystal L. Revak, Director
Investor Relations
(330) 544-7622

RMI TITANIUM COMPANY SIGNS LETTER OF INTENT

TO ACQUIRE SIERRA ALLOYS COMPANY, INC.

Niles, Ohio -- RMI Titanium Company (NYSE; RTI) announced today that it has signed a letter of intent to acquire Sierra Alloys Company, Inc., of Irwindale, California, for a combination of cash and stock.

Sierra is a premier manufacturer of specialty metal products including stainless and alloy steels, high temperature alloys and titanium. Sierra operates as a manufacturing service center providing forged and rolled products to a number of markets including aerospace, petrochemical and medical implants. Sierra's 1997 sales exceeded $50 million.

Joseph P. Augustyn, Sierra's founder, will continue in his current role as Sierra's Chief Executive Officer. Sierra's capacity expansion plans, already underway, are expected to continue as planned.

Robert M. Hernandez, RMI's Chairman, noted "The combination of the companies will expand RMI's operational capabilities, extend our product offerings into more value-added markets, and will be immediately accretive to RMI shareholders. It will also provide Sierra with resources that enhance its growth opportunities."

The transaction is subject to, among other things, negotiation and execution of mutually satisfactory definitive agreements, successful completion of due diligence, the receipt of required regulatory clearances and other customary pre-closing conditions.

This release contains forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1997. Forward-looking statements involve known and unknown risks and uncertainties including, but not limited to, cyclicality of the markets for titanium products. These and other uncertainties and risks are described in the Company's filings with the Securities and Exchange Commission, copies of which are available from the SEC or may be obtained upon request from RMI.

RMI Titanium Company, headquartered in Niles, Ohio, manufactures titanium mill products, hot-formed and superplastically formed parts, and titanium powder. The Company's products are used for fabricated components in commercial and military aircraft and engines, energy exploration and refining, chemical processing equipment, pulp and paper production facilities, medical implants and consumer goods.

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