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Intermet Fourth Quarter Earnings Below Expectations

3 December 1998

Intermet Fourth Quarter Earnings Below Expectations

    TROY, Mich., Dec. 2 -- Intermet Corporation
announced today that due to serious production problems at two of its plants,
its fourth quarter earnings will be below analyst expectations, although the
quarter will remain profitable.
    One plant is having a difficult time with a major product launch requiring
expensive measures to supply the customer while resolving its launch problems.
The other plant is experiencing serious capacity issues, thus incurring
substantial costs associated with supplying its customers due to substantial
increases in customer orders on several high selling vehicles.
    With headquarters in Troy, Michigan, Intermet Corporation and its
subsidiaries design and manufacture precision iron and aluminum cast
components for automotive and industrial equipment manufacturers worldwide.
Intermet also produces precision machined components and manufactures cranes
and specialty service vehicles.  The company has more than 5,700 employees at
sixteen locations in North America and Europe.  The company's internet address
is 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 1997 Annual Report for
the year ended December 31, 1997.