Specialized Alloy combines strength and corrosion resistance.

Press Release Summary:

Developed for use in harsh environments, INCOLOY® alloy 945 is specialized nickel hybrid of alloy 925 and alloy 718. This corrosion-resistant alloy (CRA), useful in sour well drilling and deep water drilling projects, is formulated for applications requiring high strength (125 min yield) and corrosion resistance in extreme conditions. Product carries NACE MR0175/ISO-15156-3 approval for use in oil and gas applications up to NACE level VI.

Original Press Release:

New High-Strength Corrosion-Resistant Alloy Now Available from HOWCO INCOLOY® Alloy 945 Uniquely Suited to Oil and Gas Applications

HOUSTON, June 11 -- HOWCO Group, a global supplier of hi-tech materials to the oilfield services industry, has added a new corrosion-resistant alloy (CRA) to its family of CRAs.

INCOLOY(R) alloy 945 will be especially useful in sour well drilling and deep water drilling projects. The new alloy is suitable for applications requiring high strength (125 minimum yield) and corrosion resistance in extreme conditions.

INCOLOY(R) alloy 945 has superior corrosion resistance to alloy 718, and it was developed specifically for use in harsh environments with extreme heat and pressure. It is a specialized nickel hybrid of alloy 925 and alloy 718. It offers the best of both alloys -- higher strength capability and excellent corrosion-resistance.

INCOLOY(R) alloy 945 is NACE MR0175/ISO-15156-3 approved for use in oil and gas applications up to NACE level VI.

"The drilling and exploration industry will welcome this new alloy when they see its dramatic capabilities in the field," said Cliff Swift, Vice President of Sales and Marketing for North America, HOWCO Group. "Real world experience tells us this is an important step forward."

Special Metals Corporation, the developer of the new alloy, and HOWCO Group have a complete range of bar, ingot, billet and heavy wall mechanical tube products in supply, and are prepared to meet demand and support a fast entry into the oil and gas arena.

"We are fortunate to be aligned with Special Metals and we are ready to meet the needs of our oil and gas customers," said Swift. "There is a significant demand for stronger and more resistant materials for extreme environments, and we are prepared to meet that demand."

The timely introduction of this new alloy could not have been more appropriate given the current climate in the oil and gas sector. Increased demand for energy is projected to continue over the next decade. Strong oil and metals prices, increased exploration and production in the oil and gas industry are certain to follow.

Technological advancement in deepwater drilling and intelligent well systems that function in hostile environments, create more demand for high nickel products. HOWCO has traditionally specialized in advanced high-nickel materials.

The HOWCO Group

The HOWCO Group is a market leader in high performance metals. With 30% market share, HOWCO is a leader in high nickel products for hostile oil-producing environments (such as deepwater drilling) and is a global supplier for oilfield service, focusing on supply chain management, added value processing and manufacturing. With 14 locations, HOWCO operates globally through subsidiaries in the U.S., Canada, Singapore, Europe and the UK. For more information visit www.howcogroup.com .

Special Metals Corporation

Special Metals Corporation is a world leader in the invention, production and supply of high-nickel, high-performance alloys used for the world's most technically demanding industries and applications. Special Metals offers the largest range of highly engineered nickel alloys in all standard mill forms providing optimum heat resistance, high-temperature corrosion resistance, toughness, and strength. The company has manufacturing and research facilities in the USA and Europe, and a distribution network including most of the industrialized countries of the world. For more information visit www.specialmetals.com .

CONTACT: Mr. John Mullane of Calumet Communications, +1-914-391-0943, for HOWCO Group

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