INTERMET Receives Court Approval of Amended Contracts With Major Customers Company also agrees to amendment of DIP credit agreement TROY, Mich., Jan. 14 /PRNewswire-FirstCall/ -- INTERMET Corporation (INMTQ:PK) today announced that the U.S. Bankruptcy Court of the Eastern District of Michigan entered an order approving INTERMET's assumption of the amended agreements it has reached with its major customers. As a result, INTERMET has withdrawn its motion for authority to reject certain executory supply contracts with its major customers. As previously announced, Deutsche Bank Trust Company Americas and The Bank of Nova Scotia have committed $60 million of debtor-in-possession (DIP) funding to INTERMET under a DIP credit agreement. INTERMET has had access to $20 million of this facility since October. With the approval of the amended customer agreements, INTERMET has now satisfied all conditions relative to accessing the remaining $40 million of the DIP facility. INTERMET's ability to borrow under the DIP facility continues to be subject to a budget and satisfaction of customary reporting and collateral requirements. Today, INTERMET and the DIP lenders agreed to an amendment of the DIP credit agreement that extends the due date for certain deliverables to January 26, 2005, and makes certain technical revisions to the credit agreement. The amendment will permit INTERMET to borrow funds under the DIP credit facility pursuant to a budget pending its satisfaction of these remaining conditions. About INTERMET With headquarters in Troy, Michigan, INTERMET Corporation is a manufacturer of powertrain, chassis/suspension and structural components for the automotive industry. The company has approximately 5,800 employees worldwide. More information is available on the Internet at http://www.intermet.com/ . Specific information relating to the Chapter 11 cases filed by INTERMET and certain of its domestic subsidiaries can be found on the Internet at http://www.administar.net/ . DATASOURCE: INTERMET Corporation CONTACT: Mike Kelly of INTERMET Corporation, +1-248-952-2500 Web site: http://www.intermet.com/ http://www.administar.net/

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