Amcast Announces Agreement to Purchase Lee Brass

Business Wire, March 27, 1998

DAYTON, Ohio--(BUSINESS WIRE)--March 27, 1998--Amcast Industrial Corporation (NYSE:AIZ) announced today that it has entered into an agreement to purchase Lee Brass Company, a privately owned company located in Anniston, Alabama.

Lee Brass, established in 1919, is a major manufacturer of cast brass products for residential, commercial, and industrial plumbing systems. Sales in 1997 were approximately $39 million. The company has 415 employees.

The purchase price includes cash and debt assumption totaling approximately $15 million.

Commenting on the acquisition, John H. Shuey, Amcast chairman and chief executive officer, said, "The acquisition of Lee Brass is consistent with our strategic plan for growth in the flow control segment. We are building on Amcast's strong plumbing distribution franchise by providing enhanced product line offerings through our Elkhart plumbing products network. Amcast is a leading manufacturer of copper and brass fittings, and we expect our customers to view this increased commitment to their business favorably."

The transaction, which is subject to completion of due diligence, is expected to be completed in April.

Amcast Industrial Corporation is a leading manufacturer of technology-intensive metal products. Its two business segments are brand name FLOW CONTROL PRODUCTS marketed through national distribution channels, and ENGINEERED COMPONENTS for original equipment manufacturers. The company serves the automotive, construction, and industrial sectors.

CONTACT: Amcast Industrial Corporation

Media contact: Phyllis Naylor, 937/291-7011

Investor contact: Michael Higgins, 937/291-7015