Thomas A. Corcoran Succeeds Richard P. Simmons as President and CEO of Allegheny Teledyne

Business Wire, Oct 1, 1999

PITTSBURGH--(BUSINESS WIRE)--Oct. 1, 1999--

Allegheny Teledyne Incorporated (NYSE:ALT) today announced that Thomas A. Corcoran, 55, has succeeded Richard P. Simmons, 68, as President and Chief Executive Officer. Mr. Corcoran has also been elected a director of Allegheny Teledyne. Prior to joining Allegheny Teledyne, Mr. Corcoran was president and chief operating officer, space and strategic missiles sector of Lockheed Martin Corporation. Mr. Simmons, who has retired as an active employee, will remain Chairman of Allegheny Teledyne's Board of Directors.

Allegheny Teledyne had announced on September 2, 1999 the selection of Mr. Corcoran as President and Chief Executive Officer to be effective October 1, 1999.

Allegheny Teledyne Incorporated is a diversified manufacturing company serving global markets with specialty metals, aerospace, electronic, industrial, and consumer products. The company is one of the largest and most diversified specialty metals producers in the world. With talented people using innovative technologies and systems, Allegheny Teledyne's goal is to be the low cost, high quality supplier to global markets. Allegheny Teledyne's website can be found at http://www.alleghenyteledyne.com.