INTERMET Refinances Loans

    TROY, Mich., July 17 INTERMET Corporation
today announced that it has entered into a new $183-million, 18-month term
loan maturing December 20, 2002.  In addition, the Company has completed
revisions to its existing $300 million revolving credit agreement that will
mature November 5, 2004.  These revisions, along with the new term loan
agreement, will give INTERMET more flexibility under current market
conditions.  Additional pre-tax interest expense from these agreements is
estimated to be $1.5 million per quarter through the end of the year, but due
to overall lower interest rates and decreased debt, the Company expects
interest expense to be down about 15% in the last half of this year compared
with the same period last year.
    Doretha Christoph, Vice President of Finance and Chief Financial Officer,
said, "Everyone worked hard to put these agreements in place.  We have worked
with our banks for continued flexibility.  The maturity extension will give
INTERMET the time necessary to access the capital markets in an orderly
manner.  We already are pursuing several alternatives that will put in place
longer term capital."
    With headquarters in Troy, Michigan, INTERMET Corporation is a
manufacturer of powertrain, chassis/suspension and structural components for
the automotive industry.  INTERMET's strategy is to be the leading supplier of
cast-metal automotive components in the world.  The company has more than
6,500 employees at facilities located in North America and Europe.  More
information is available on the Internet at http://www.intermet.com .
    This news release may include forecasts and forward-looking statements
about INTERMET, its industry and the markets in which it operates.  Forward-
looking statements and the achievement of any forecasts or projections are
subject to risks, uncertainties and other factors that could cause actual
results to differ materially from those expressed or denied.  Such risks and
uncertainties are fully detailed as a preface to the Management's Discussion
and Analysis of Financial Condition in the company's 2000 Annual Report for
the year ended December 31, 2000.