Ampco-Pittsburgh Corporation Announces Results

The matters discussed herein may contain forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from expectations. Some of these risks are set forth in the Corporation's Annual Report on Form 10-K as well as the Corporation's other reports filed with the Securities and Exchange Commission.

AMPCO-PITTSBURGH CORPORATION FINANCIAL SUMMARY
						Three Months Ended December 31,									Year Ended December 31
						2011				2010					2011				2010
Sales						$	86,514,000			$	82,165,000				$	344,816,000			$	326,886,000
Income (loss) from operations			(1	)			6,994,000				(12,399,000	)				36,474,000				24,727,000
Other expense – net							(984,000	)			(977,000	)				(1,747,000	)			(105,000	)
Income (loss) before income taxes							6,010,000				(13,376,000	)				34,727,000				24,622,000
Income tax (provision) benefit							(4,152,000	)			3,907,000					(12,916,000	)			(8,687,000	)
Equity losses in Chinese joint venture							(104,000	)			(184,000	)				(502,000	)			(479,000	)
Net income (loss)			(2	)		$	1,754,000			$	(9,653,000	)			$	21,309,000			$	15,456,000
Earnings per common share:
Basic			(2	)		$	0.17			$	(0.94	)			$	2.07			$	1.51
Diluted			(2	)		$	0.17			$	(0.94	)			$	2.05			$	1.50
Weighted-average number of common shares outstanding:
Basic							10,325,602				10,275,040					10,318,613				10,253,788
Diluted							10,389,753				10,317,445					10,393,159				10,290,824

(1)		Income (loss) from operations for the quarter and year ended December 31, 2010 includes a pre-tax charge of $19,980,000 for estimated costs of asbestos-related litigation, net of estimated insurance recoveries, through 2020.
(2)		Net income (loss) for the quarter and year ended December 31, 2010 includes an after-tax charge of $12,931,000 or $1.26 per common share for estimated costs of asbestos-related litigation, net of estimated insurance recoveries, through 2020.

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