Amcast Automotive Awarded Aluminum Wheel Order From DaimlerChrysler

    DAYTON, Ohio--Oct. 15, 2001--Amcast Industrial Corporation announced today that Amcast Automotive has been awarded its first aluminum road wheel order in North America from DaimlerChrysler Corporation.
    The wheel will be produced for a 2003 1/2 model year Chrysler badged mid-sized sedan. Initial production shipments for this program will begin during the first quarter of 2003 and is estimated to utilize 8 to 10% of the company's U.S. wheel capacity.
    "The award of this project is a milestone for Amcast Automotive and is the culmination of a dedicated strategy to further diversify our North American customer base," said Byron O. Pond, Amcast Industrial Corporation President and CEO. "This opportunity further strengthens our ability to provide global support to this important strategic partner and signifies DaimlerChrysler's confidence in the quality of our associates and products."
    Amcast Industrial Corporation is a leading manufacturer of technology-intensive metal products. Its two business segments are brand name Flow Control Products marketed through national distribution channels, and Engineered Components for original equipment manufacturers. The company serves the automotive, construction, and industrial sectors of the economy.
    This release includes "forward-looking statements" which are subject to change based on various factors and uncertainties that may cause actual results to differ significantly from expectations. These factors include, among others; general economic conditions less favorable than expected, fluctuating demand in the automotive and housing industries, price pressures in the company's automotive and flow control businesses, effectiveness of production improvement plans, inherent uncertainties in connection with international operations and foreign currency fluctuations, and labor availability and relations at the company and its customers.