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INTERMET Sells Subsidiary

16 October 2000

INTERMET Sells Subsidiary

    TROY, Mich., Oct. 16 INTERMET Corporation
today announced that it has closed on the sale of Iowa Mold Tooling Co., Inc.
(IMT) to an affiliate of American Capital Strategies, Ltd. of
Bethesda, Maryland.  IMT was purchased by INTERMET as part of the acquisition
of Sudbury, Inc., in December 1996.
    IMT, which is based in Garner, Iowa, is a world-leading innovator in the
design, engineering and manufacture of specialized cranes, tire service
vehicles, and lubrication and field service vehicles.  In addition, IMT
manufactures other devices for construction, material handling, building
supply, tire service, equipment dealers and public works, as well as for the
utility, railroad and mining industries worldwide.
    John Doddridge, INTERMET Chairman and Chief Executive Officer, said,
"Although IMT is a recognized leader in its field, we felt IMT would have
better growth opportunities inside a different organization.  For INTERMET,
the sale allows us to reduce current debt levels resulting from recent
acquisitions and focus our efforts on INTERMET's core castings business."