INTERMET Announces $400 Million in New Business Won During Past Year

TROY, Mich., Jan. 7 -- INTERMET Corporation , one of the world's leading independent manufacturers of cast-metal automotive components, announced today that during 2001, it had been awarded new business worth a total of $400 million. The new contracts are for programs slated to run through 2006 and consist of components to be manufactured in aluminum, magnesium and ductile iron for automotive powertrain, chassis/suspension, and interior applications. INTERMET customers for these programs include automakers and Tier-1 system suppliers. Terry Graessle, INTERMET's Vice President of Sales and Marketing, says that the new work also represents the success of the company's initiative to expand further into light-metal product offerings. "The automakers are increasingly looking at making their vehicles with more lightweight components in order to meet higher standards of fuel efficiency," Graessle said. "Our technical resources along with our diverse cast-metal material and process capabilities were major factors in the OEMs and Tier 1s coming to us for help. We see this trend continuing well into the future." New aluminum programs awarded to INTERMET in 2001 include ABS housings, knuckles, tensioner arms, engine front and valve covers, as well as heat sink and electronic housing programs that signal continued growth in market share in these areas. Significant new magnesium work also was secured for the production of instrument panel frames, valve covers and steering wheel tilt mechanisms. Ductile-iron programs include knuckles, tie rods and control arms for car, light-truck and SUV applications. According to Graessle, a new torsion bar adjuster concept developed by INTERMET uses austempered ductile iron and represents yet another example of the company's continued commitment to providing lightweight cast components even where very high strength and ductility are required. 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 6,000 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.