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Intermagnetics to Assume Pennzoil Mobile Refrigerant Customer Base

15 December 1998

Intermagnetics to Assume Pennzoil Mobile A/C FRIGC(R) FR-12(TM) Refrigerant Customer Base

             Company Anticipates Improved Second-Quarter Results

    LATHAM, N.Y., Dec. 14 -- Intermagnetics General Corporation
(Amex: IMG) today announced that its wholly owned subsidiary InterCool Energy
Corporation (ICE) will, as of January 1, 1999, take over the existing FRIGC
related mobile air-conditioning refrigerant business currently serviced by the
Pennzoil Products Company.
    Pennzoil Products Company, a wholly owned subsidiary of Pennzoil Company
, has been a distributor of FRIGC FR-12 refrigerant into the mobile
air-conditioning market since 1995.  Pennzoil has notified its customers that
because of its intended merger with Quaker State, Pennzoil has decided to
concentrate on its core lubricants and automotive consumer products
businesses, and discontinue distribution of FRIGC refrigerants.
    To ensure continuity with customers, InterCool Energy has agreed to
service Pennzoil's existing FR-12 customers, starting on January 1.  Carl H.
Rosner, chairman and chief executive officer of Intermagnetics General
Corporation, said that, "Pennzoil has proven to be an effective and valuable
asset to the introductory FRIGC marketing program, and we will be sorry to see
them leave the expanding distributor family.  However, change is the reality
of life in business today, and although we will miss their dedication and many
positive contributions, we are confident that through a combination of direct
sales to the current wholesale distributors, and by signing on new
distribution and representative agents, there will be renewed vigor to ensure
that our FR-12, now designated as R-416A, maintains its position as the
superior and most direct cost-saving alternative to CFC-12 (FREON*) for those
80 million vehicles, in this country alone, that still contain CFC-12 in their
air conditioning systems."
    Pennzoil will work with InterCool to assist in the changeover in marketing
responsibility.  Pennzoil will also turn over its inventory of refrigerant to
InterCool and will continue to supply customers with refrigerant system
fittings and Pennzcom(R)POE Oil, the air conditioning lubricant oil
recommended by InterCool for FRIGC FR-12 installation.
    Colin Munday, vice president of InterCool Energy, noted, "Although we are
now expanding into the stationary refrigeration and air conditioning market,
the mobile North American air-conditioning replacement segment remains of
strong interest to Intercool.  The advantages of FR-12 compared to R-134a
retrofits are more widely recognized and confirmed by having BOC Gases
Australia, Limited act as a distributor in the Australian market.  We hope to
translate the lessons learned from this growing success to the domestic
automobile refrigerant segment.  This area is still the largest consumer of
the diminishing stock of FREON.  Pennzoil's excellent work in establishing the
FRIGC customer base in this country should also prove invaluable in providing
a further growth impetus to this important market opportunity by next spring
and summer."
    The Company also indicated that within the next few weeks it will issue
its unaudited financial results for the second quarter ended November 29,
1998.  The quarterly performance results are expected to follow a trend of
year-over-year revenue and profit growth in its continuing core businesses.

    Pennzoil Products Company is a wholly owned subsidiary of Houston-based
Pennzoil Company, and its motor oil has been America's No. 1-selling brand for
the last 13 years.

    BOC Gases Australia, Limited, a subsidiary of BOC, UK, has an extensive
network of production sites and distribution centers across Australia.  The
company's Gas & Gear network comprises 75 centers and more than 850 agents.
It markets a wide range of compressed gases, as well as non-gas products such
as welding equipment and consumables, safety gear and refrigeration equipment.
It employs almost 300 people.  A fleet of more than 500 vehicles service both
the smallest customer -- and the most remote, with the longest liquid oxygen
haul in The BOC Group -- a 6,200 km trip between Adelaide and Darwin.

    Intermagnetics is the largest integrated developer and manufacturer in the
United States of low-temperature and high-temperature superconducting magnets,
wire and cable as well as associated low-temperature refrigeration equipment,
and radio-frequency (RF) coils, the combination of which is essential to
successful application of superconductivity such as Magnetic Resonance Imaging
(MRI).  The Company is dedicated to the development and commercialization of
applied superconductivity and refrigeration systems.  The Company also
supplies permanent magnet systems, materials separation equipment and FRIGC(R)
refrigerants as replacements for ozone-depleting refrigerants.

    SAFE HARBOR STATEMENT:
    The statements contained in this press release which are not historical
fact are "forward-looking statements" that involve various important
assumptions, risks, uncertainties and other factors.  These include, without
limitation, the assumptions, risks, and uncertainties set forth in the
Company's Annual Report on Form 10-K, including the Company's ability to
expand its distribution base and win greater market acceptance for FRIGC.

    *FREON(R) is a registered trademark of E.I. duPont deNemours & Co.