INTERMET Second-Quarter Sales and Earnings Expectations Lower

TROY, Mich., June 23 -- INTERMET Corporation today announced that its second-quarter sales and earnings are expected to be lower than its previous guidance and analyst expectations.

President and COO Gary F. Ruff said, "Sales are being affected by the continued slow economy and the reduction of vehicle production at our customers. At this time, it appears that our sales for the quarter will be less than $195 million, approximately 11 percent below the second quarter of last year.

Ruff also noted that the analysts' consensus estimate for earnings this quarter is 7 cents per diluted share. "However, we expect earnings of 4 cents or 5 cents per diluted share for the quarter," he said.

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 world's leading supplier of cast-metal automotive components. The company has more than 5,500 employees at facilities located in North America and Europe. More information is available on the Internet at 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. Some of these risks and uncertainties are detailed as a preface to the Management's Discussion and Analysis of Financial Condition in the company's 2002 Annual Report for the year ended December 31, 2002.