INTERMET locates needed investors

Troy, MI— INTERMET Corporation, a diversified manufacturer of cast-metal components, announced that the U.S. Bankruptcy Court for the Eastern District of Michigan has approved the Company’s motion to enter into an equity financing Commitment Letter under which R2 Investments, LDC, and Stanfield Capital Partners LLC have agreed to underwrite a $75 million equity investment in INTERMET in connection with INTERMET’s proposed Plan of Reorganization.

The court also approved the Company’s amended Disclosure Statement. In addition, the court approved the Company’s proposed solicitation and balloting process. INTERMET will distribute the Disclosure Statement and balloting materials to all creditors in order to solicit their votes in support of the Plan.

The confirmation hearing with respect to the Plan of Reorganization is scheduled to begin on September 26, 2005.

“We are pleased with the court’s approval, which means that INTERMET is moving closer to exiting bankruptcy,” said Gary F. Ruff, chairman and CEO. “We look forward to emerging from Chapter 11 with a capital structure and strategy designed to strengthen our leadership position in the industry.”