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Precision Castparts Closes Offering Period for Timet Shares

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Precision Castparts Announces Closing of Tender Offer for Timet, Announces Subsequent Offering Period

Precision Castparts Corp. (NYSE: PCP) (PCC) announced today the completion of the subsequent offering period relating to the tender offer through its wholly owned subsidiary, ELIT Acquisition Sub Corp. (Purchaser), for all of the outstanding shares of common stock of Titanium Metals Corporation (NYSE: TIE) (Timet) (the "Shares") at a purchase price of $16.50 per Share without interest and less any applicable withholding of taxes. Timet has been a subsidiary of PCC since December 21, 2012, and Timet's results from that date forward are reported as part of PCC's Forged Products segment.

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