<PAGE>   1
                                                                    EXHIBIT 99.1


                              RMI TITANIUM COMPANY
                      EMPLOYEE SAVINGS AND INVESTMENT PLAN


                                  ANNUAL REPORT


                 FOR THE YEARS ENDED DECEMBER 31, 1999 AND 1998











<PAGE>   2



                        Report of Independent Accountants


To the Participants and Administrator of the
RMI Titanium Company Employee Savings and Investment Plan

In our opinion, the accompanying statements of net assets available for benefits
and the related statements of changes in net assets available for benefits
present fairly, in all material respects, the net assets available for benefits
of the RMI Titanium Company Employee Savings and Investment Plan (the "Plan") at
December 31, 1999 and December 31, 1998, and the changes in net assets available
for benefits for the years then ended in conformity with accounting principles
generally accepted in the United States. These financial statements are the
responsibility of the Plan's management; our responsibility is to express an
opinion on these financial statements based on our audits. We conducted our
audits of these statements in accordance with auditing standards generally
accepted in the United States, which require that we plan and perform the audit
to obtain reasonable assurance about whether the financial statements are free
of material misstatement. An audit includes examining, on a test basis, evidence
supporting the amounts and disclosures in the financial statements, assessing
the accounting principles used and significant estimates made by management, and
evaluating the overall financial statement presentation. We believe that our
audits provide a reasonable basis for the opinion expressed above.

Our audits were conducted for the purpose of forming an opinion on the basic
financial statements taken as a whole. The supplemental schedule of Assets
Held for Investment Purposes is presented for the purpose of additional
analysis and is not a required part of the basic financial statements but is
supplementary information required by the Department of Labor's Rules and
Regulations for Reporting and Disclosure under the Employee Retirement Income
Security Act of 1974. This supplemental schedule is the responsibility of the
Plan's management. The supplemental schedule has been subjected to the
auditing procedures applied in the audits of the basic financial statements
and, in our opinion, is fairly stated in all material respects in relation to
the basic financial statements taken as a whole.


/s/ PricewaterhouseCoopers LLP

PricewaterhouseCoopers LLP
Pittsburgh, Pennsylvania
June 29, 2000




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10K/A1
                              RMI TITANIUM COMPANY
                      EMPLOYEE SAVINGS AND INVESTMENT PLAN
                 STATEMENT OF NET ASSETS AVAILABLE FOR BENEFITS
                           DECEMBER 31, 1999 AND 1998


<TABLE>
<CAPTION>
                                                                 1999                1998
                                                              -----------         -----------
<S>                                                           <C>                 <C>
Investments at fair value                                     $15,719,861         $12,959,466
Contributions receivable                                           90,002                  --
                                                              -----------         -----------
Net assets available for benefits                             $15,809,363         $12,959,466
                                                              ===========         ===========
</TABLE>


   THE ACCOMPANYING NOTES ARE AN INTEGRAL PART OF THESE FINANCIAL STATEMENTS.






<PAGE>   4


10ka1
                              RMI TITANIUM COMPANY
                      EMPLOYEE SAVINGS AND INVESTMENT PLAN

           STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS
                 FOR THE YEARS ENDED DECEMBER 31, 1999 and 1998


<TABLE>
<CAPTION>
                                      1999                 1998
                                   -----------          -----------
<S>                                <C>                  <C>
Contributions
  Employee                         $ 1,219,509          $   910,630
  Employer                              20,494                   --
                                   -----------          -----------
Total contributions                  1,240,003              910,630
                                   -----------          -----------
Investment income:
  Interest and dividend income       1,070,624              655,168
  Net appreciation in fair
     value of investments              880,467            1,334,581
                                   -----------          -----------
                                     1,951,091            1,989,749
                                   -----------          -----------
  Transfers                            135,352              300,938
                                   -----------          -----------
       Total additions               3,326,446            3,201,317
                                   -----------          -----------

  Participant's benefits paid         (476,049)            (501,036)
                                   -----------          -----------
       Total deductions               (476,049)            (501,036)
                                   -----------          -----------
Increase in net assets               2,850,397            2,700,281
Net assets available for benefits
      Beginning of year             12,959,466           10,259,185
                                   -----------          -----------
      End of year                  $15,809,863          $12,959,466
                                   ===========          ===========
</TABLE>

  THE ACCOMPANYING NOTES ARE AN INTEGRAL PART OF THESE FINANCIAL STATEMENTS.


<PAGE>   5


                              RMI TITANIUM COMPANY
                      EMPLOYEE SAVINGS AND INVESTMENT PLAN
                          NOTES TO FINANCIAL STATEMENTS
                           DECEMBER 31, 1999 AND 1998


NOTE 1 - SUMMARY OF ACCOUNTING POLICIES:

ACCOUNTING METHOD

The financial statements of the RMI Titanium Company Employee Savings and
Investment Plan (the Plan) use the accrual method of accounting.

USE OF ESTIMATES

Generally accepted accounting principles require management to make certain
estimates and assumptions relating primarily to the fair market value of certain
Plan assets. Actual results could differ from those estimates. For additional
information on the fair market value of Plan assets, see "Investments" below.

INVESTMENTS

Available investment options at December 31, 1999 are as follows:

RTI INTERNATIONAL METALS, INC. COMMON STOCK - Funds are invested in shares of
RTI Metals, Inc. common stock.

Fidelity managed mutual fund accounts:

FIDELITY MAGELLAN FUND - Funds are invested in shares of a registered investment
company that invests primarily in equity securities.

FIDELITY GROWTH AND INCOME FUND - Funds are invested in shares of a registered
investment company that invests primarily in equity securities.

FIDELITY LOW-PRICED STOCK FUND - Funds are invested in shares of a registered
investment company that invests primarily in shares of small-sized companies.

FIDELITY WORLDWIDE FUND - Funds are invested in shares of a registered
investment company that invests primarily in common stocks issued by companies
of all sizes anywhere in the world, including the U.S.




<PAGE>   6


SPARTAN U.S. EQUITY INDEX FUND - Funds are invested in shares of a registered
investment company that attempts to duplicate the composition and total return
of the S&P 500.

Fidelity stable value funds:

FIDELITY MANAGED INCOME PORTFOLIO - Funds are invested in short- and long-term
investment contracts issued by insurance companies and commercial banks.

Investments in Fidelity managed funds and RTI International Metals, Inc. common
stock are valued at fair market value based on published quotations. Security
transactions are recorded as of the settlement date.

FUNDING

The Plan is funded by contributions from participating employees and the
employer (see Plan Amendment). The costs of administering the Plan and the
trust are borne by the Company.

PAYMENT OF BENEFITS

Benefits are recorded when paid.

NOTE 2 - DESCRIPTION OF PLAN

GENERAL

RMI Titanium Company (the "Company") is the Plan Sponsor. The Company is a
successor to entities that have been operating in the titanium industry
since 1951.

The following description of the Plan provides only general information.
Participants should refer to the Plan agreement for a more complete description
of the Plan's provisions.

The Plan is a defined contribution plan covering full-time salaried,
nonrepresented employees who are at least 21 years of age and have completed
three months of service. The Plan is subject to the provisions of the Employee
Retirement Income Security Act of 1974 (ERISA).

CONTRIBUTIONS

Participants may contribute from 1% to 15% of salary through payroll deduction.
Pre-tax contributions are subject to annual limitations as prescribed by law
($10,000 in 1999 and 1998). Certain highly compensated participants, as defined
by the Internal Revenue Code, may contribute from 1% to 7% of salary through
payroll deduction. Contributions are directed by the participants into any one
or all of the investment options. Participants may change their elections of
investment funds by calling the recordkeeper directly. Participants are 100%
vested in their accounts at all times.

PLAN AMENDMENT

On August 1, 1999 the Plan was restated to provide that employees of Weld-Tech
Engineering Services, a subsidiary of RTI International Metals, Inc. ("RTI"),
the Company's ultimate parent, are eligible to participate in the Plan and to
provide for a matching dollar contribution on behalf of such employees.
Weld-Tech Engineering Services participants are not eligible for benefits under
any of the Company's or other RTI subsidiaries' benefit plans. Participants vest
in the employer contributions ratably over a period of three years. Participants
should refer to the plan agreement for a more complete description of the Plan's
provisions.

<PAGE>   7
PAYMENT OF BENEFITS

Participants or their beneficiaries are entitled to the full current value of
their account in the Plan upon:

      o  Retirement;
      o  Termination of Employment with the Company; or
      o  Death

Participants may also make written application to the administrator for
withdrawal of all or a portion of their account balance for certain limited
situations qualifying as financial hardships under Internal Revenue Service
guidelines in effect at the time of the withdrawal.

PARTICIPANT LOANS RECEIVABLE

Participants may borrow from their accounts a minimum of $1,000 up to a maximum
equal to 50% of the existing account balance not to exceed $50,000 in any
12-month period. Loans are treated as a transfer (from) the investment fund to
the Participant Loans Receivable fund. Loan repayment terms range from one month
to five years and are secured by the balance in the participant's account. Loans
bear interest at a rate commensurate with the current market rate when made.
Loans made in 1999 and 1998 bear interest at 8.75%. Interest rates on loans made
prior to 1998 range from 8.75% to 15.00%. Principal and interest are paid
ratably through monthly payroll deductions. Repayments are transfers to the
investment funds (from) the Participant Loan Receivable fund.

TRANSFERS

Transfers represent transfers from or (to) other plans.

ADMINISTRATION

The Plan is administered by the Company's Retirement Board (the
"Administrator"). The Board establishes rules and procedures and interprets the
provisions of the Plan.

TERMINATION PROVISION

The Company anticipates the Plan will continue without interruption, but
reserves the right to discontinue the Plan at any time. In the event that such
discontinuance results in the termination of the Plan, the Plan provides that
each participant shall be fully vested in his or her individual account which
includes earnings on the participant's contributions as well as employer
contributions. The individual accounts of the participants shall continue to be
administered by the Administrator, or be distributed in a lump sum to the
participants, as deemed appropriate by the Administrator.

NOTE 3 - INCOME TAXES:

The Internal Revenue Service (IRS) has determined and informed the Company by a
letter dated April 30, 1996, that the Plan and related trust are designed in
accordance with applicable sections of the Internal Revenue Code (IRC). The Plan
has been amended and restated since receiving the determination letter; however,



<PAGE>   8
the Administrator believes that the Plan is currently being operated in
compliance with the applicable requirements of the IRC. Therefore, no provision
for income taxes has been included in the Plan financial statements.

NOTE 4 - RECORDKEEPING

Individual participant account balances, allocations and investment options are
maintained by Fidelity Investments Institutional Operations Company, Inc., based
on enrollment and payroll information supplied by the Company.




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10K/A1
                SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES

                                    FORM 5500

                              RMI TITANIUM COMPANY

                       EMPLOYEE SAVINGS & INVESTMENT PLAN

<TABLE>
<CAPTION>

                                                                                              (e)
                  (b)                                         (c)                           CURRENT
(a)            IDENTITY                   DESCRIPTION OF INVESTMENT                          VALUE
<S>       <C>                             <C>                                           <C>
 *        Fidelity Investments            Fidelity Magellan fund                        $ 6,828,087

 *        Fidelity Investments            Fidelity Growth and Income Fund                 1,801,020

 *        Fidelity Investments            Fidelity Low Priced Stock Fund                    437,183

 *        Fidelity Investments            Fidelity Worldwide Fund                           680,421

 *        Fidelity Investments            Fidelity Managed Income Portfolio               3,795,870

 *        Fidelity Investments            Spartan U.S. Equity Index Fund                  1,396,727

 *        RTI International Metals, Inc.  Common Stock                                      577,125

 --       Participant Loans Receivable    Interest Rates-Low 8.75%, High 15.00%             203,428
                                                                                        -----------
                                                              TOTAL:                    $15,719,861
                                                                                        ===========
</TABLE>

                          *  DENOTES PARTY-IN-INTEREST