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Intermet Second Quarter Results Above Expectations

1 July 1999

Intermet Second Quarter Results Above Expectations

    TROY, Mich., June 30 -- Intermet Corporation
announced today that its second quarter results would exceed analysts'
earnings estimates despite difficulties in production operations.
    Intermet expects to realize a one-time tax benefit as a result of a tax
law change in Germany during the second quarter.  Based on meetings the
company conducted with German taxing authorities and its accountants through
the end of last week, this change will allow greater tax advantage for the
company's December, 1998 purchase of a foundry in Ueckermunde, Germany.
Although total earnings are expected to be greater, operational earnings will
be below original estimates due to several major production disruptions in the
last two weeks of June.
    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 7,100 employees at 19
operating locations in North America and Europe.  Intermet'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 1998 Annual Report for
the year ended Dec. 31, 1998.