IMCO Impco Technologies (MM)

IMPCO Technologies Inc. Retires $20 Million Subordinated Debt CERRITOS, Calif., Jan. 5 /PRNewswire-FirstCall/ -- IMPCO Technologies Inc., (NASDAQ:IMCO) announced today the retirement of their $20 million subordinated debt held by Bison Capital LLC on December 29, 2004. Mr. Nick Gerde, Chief Financial Officer of IMPCO, stated that the retirement of the loan, being financed through a loan from its affiliate, BRC Srl at an approximate 3.7% annual interest rate (3-month EURIBOR plus 1.5%), will reduce the Company's cash interest payment by approximately $1.5 million per year. The BRC loan is for $22.0 million and has a five year amortizing repayment schedule. See the Company's Form 8-K filed with the SEC on December 29, 2004 for more details. It has been previously announced that IMPCO has negotiated a purchase agreement with BRC to acquire the remaining 50% equity of the company. Consummation of the purchase agreement is expected in the first quarter of 2005. IMPCO previously acquired 50% of the equity of BRC in July 2003. Regarding IMPCO Technologies and BRC: IMPCO and BRC design, manufacture, market and supply advanced alternative fuel systems and related products for the transportation, industrial and power generation markets. Headquartered in Cerritos, California and Cherasco, Italy, they have offices in Asia, Europe, Australia and South and North America. More information can be found at IMPCO's web site, http://www.impco.ws/ and at BRC's web site, http://www.brc.it/. Except for historical information, the statements, expectations and assumptions contained in the foregoing press release are forward-looking statements. Such forward-looking statements include, but are not limited to, the company's expectations regarding revenues in future periods. Such statements are subject to a number of risks and uncertainties, and actual results could differ materially from those discussed in any forward-looking statement. Readers should consider the factors discussed in the section entitled "Management's Discussion & Analysis of Financial Conditions on Results of Operations - Risk Factors" in our Quarterly Report on Form 10-Q for the period ended September 30, 2004, as well as the discussions of risks and uncertainties contained from time to time in our reports to the Securities and Exchange Commission. For further information contact Mr. Dale Rasmussen, Investor Relations: E-mail: Phone: +1-206-315-8242 Fax: +1-206-315-8301 DATASOURCE: IMPCO CONTACT: Investor Relations, Mr. Dale Rasmussen of IMPCO, +1-206-315-8242, or Fax, +1-206-315-8301, Web site: http://www.brc.it/ Web site: http://www.impco.ws/

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