---

Intermet Acquires Leading Automotive Suppliers

17 November 1999

Intermet Acquires Leading Automotive Suppliers; Major Boost to Aluminum Manufacturing Capability

    TROY, Mich., Nov. 17 -- Intermet Corporation
announced today that it has entered into a definitive agreement with JJM, LLC,
Gantec II, LLC, and Cerberus Institutional Partners, L.P., to purchase Ganton
Technologies, Inc., and Diversified Diemakers, Inc.  Ganton Technologies is a
Wisconsin-based supplier of die-cast aluminum components to the automotive
industry.  Diversified Diemakers, with headquarters in Missouri, is a leading
manufacturer of magnesium die-cast automotive components.  Combined, the two
companies employ 2,000 people and are expected to have sales of $235 million
in 1999.  Terms of the agreement were not released.
    Ganton Technologies is one of North America's largest aluminum die
casters.  Automotive fluid-handling components, such as oil pans, transmission
housings and cam covers, make up about 65% of the company's overall business,
with brackets and structural components representing the balance.  Ganton
Technologies operates three manufacturing facilities, two located in Wisconsin
and one in Tennessee.  Ganton also operates an engineering center in
Wisconsin.
    Diversified Diemakers specializes in complex, highly-engineered thin-wall,
magnesium die-cast products such as brake pedal brackets, instrument panel
frames and multi-slide housings representing significant offerings to the
automotive, commercial and electronics industries.  Diversified Diemakers has
three production facilities and a product development center, all in Missouri.
    Intermet Chairman and Chief Executive Officer John Doddridge said, "We are
particularly pleased to acquire both Ganton and Diversified Diemakers.  We
consider them well managed, with world-class plants.  The combination
significantly builds on Intermet's strategy of being a leading, full-service
metal caster, primarily serving the automotive industry.
    "With the acquisition, we anticipate approximately $1.3 billion in sales
in fiscal 2000, assuming the economy remains strong," said Doddridge.  "The
addition of Ganton/Diemakers to Intermet's existing aluminum and zinc casting
capabilities is expected to provide a total of almost $400 million in non-
ferrous casting sales next year.  We anticipate that next year's revenues will
be approximately 61% iron, 20% aluminum, 9% magnesium, 2% zinc, and 8% other."
    Doddridge emphasized that the acquisition is not a move away from ferrous
castings, but a broadening of materials and casting processes consistent with
Intermet's strategy.  "We plan to continue the company's growth in ferrous
castings," he added.
    Joyce Johnson-Miller, chairperson of Ganton/Diemakers, said, "We have made
substantial progress with Ganton Technologies over the past four years and
most recently with Diversified Diemakers.  Our companies have a talented
workforce and leadership position in the markets where we compete.  I am
confident that both companies, as part of Intermet, will continue to grow and
become even stronger within the industry."
    Doretha Christoph, Intermet's chief financial officer, said, "We expect
the acquisition to be accretive in the year 2000 and anticipate closing this
transaction by mid-December."  The acquisition is subject to certain
regulatory approvals.
    With headquarters in Troy, Michigan, Intermet Corporation and its
subsidiaries are full-service suppliers to the automotive and industrial
equipment industries worldwide, providing precision iron and aluminum cast and
finished components.  Intermet also manufactures cranes and specialty service
vehicles.  The company has more than 7,000 employees at 19 locations in North
America and Europe.  More information about the company 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 1998 Annual Report for
the year ended December 31, 1998.