AGY Holding Corp. Announces Standard & Poor's Rating

AIKEN, S.C.--(Business Wire)--
AGY Holding Corp. ("AGY" or the "Company") reports that Standard &
Poor's Ratings Services revised its outlook on AGY Holding Corp. to
'stable' from the previous outlook of 'negative'. At the same time,
Standard & Poor's affirmed its ratings, including its "B" corporate
credit rating, on AGY. The outlook revision reflects Standard & Poor's
expectation for a stable operating environment for AGY and follows the
quarterly improvements in earnings.

Additional information relative to AGY's credit rating can be
found on Standard & Poor's website at www.standardandpoors.com

AGY is a leading global producer of fiberglass yarns and
high-strength fiberglass reinforcements used in a variety of
composites applications. AGY serves a diverse range of markets
including aerospace and defense, electronics, construction and
industrial. Headquartered in Aiken, South Carolina, AGY has a European
office in Lyon, France and manufacturing facilities in the U.S. in
Aiken, South Carolina and Huntingdon, Pennsylvania. Additional
information may be found at the Company's website, www.agy.com or by
email at info@agy.com.

Certain statements contained in this release are forward-looking
and involve risks and uncertainties that could cause actual results to
differ materially from those expressed or implied by such
forward-looking statements. Among these risks and uncertainties are
general economic and business conditions; the Company's substantial
debt and ability to generate cash flows to service its debt; the
Company's compliance with the financial covenants contained in its
various debt agreements; changes in market conditions or product
demand (including whether or not the Company is awarded certain new
defense contracts that it has sought to obtain); the level of cost
reduction achieved through restructuring and capital expenditure
programs; changes in raw material costs and availability; downward
selling price movements; currency and interest rate fluctuations;
increases in the Company's leverage; the Company's ability to
effectively integrate acquisitions; changes in the Company's business
strategy or development plans; the timing and cost of plant closures;
the success of new technology; and increases in the cost of compliance
with laws and regulations. Factors that could cause actual results to
differ materially from these forward-looking statements include but
are not limited to those risk factors listed from time to time in the
reports that the Company furnishes to its indenture trustee and
holders of its 11% senior second lien notes and the Company's filings
with the US Securities and Exchange Commission. AGY does not undertake
to publicly update or revise any forward-looking statements, whether
as a result of new information, future events or otherwise.

AGY Holding Corp.
Wayne T. Byrne, 803-643-1257, wayne.byrne@agy.com

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