AMCAST INDUSTRIAL CORPORATION

NEWS RELEASE



                                AMCAST ANNOUNCES


                  THREE-YEAR EXTENSION OF ITS CREDIT FACILITIES

                                       AND

                    TERMINATION OF DISCUSSIONS WITH CITATION


DAYTON, OHIO, August 29, 2003 - Amcast Industrial Corporation (AICO.OB) today
announced that the Company has restructured its credit facilities with its bank
lending group and senior note holders. The bank and senior note credit
maturities have been extended until September 14, 2006.

The impact on Amcast's balance sheet will be to reclassify $169.4 million of
debt from short term to long term. Amcast had $179.8 million in short-term debt
at the end of its fiscal third quarter ended June 1, 2003. If this credit
facility restructuring had been in place for Amcast's fiscal third quarter,
short-term debt would have been $10.5 million, or 6% of total debt.

Joseph R. Grewe, President and Chief Executive Officer, said, "Reaching
agreement with the banks and senior note holders to extend our debt maturity is
an important accomplishment. We appreciate the confidence our lenders expressed
in Amcast and the support received from our suppliers. This debt extension
provides Amcast with improved liquidity and operating flexibility while we work
on achieving better operating performance. Since the beginning of this fiscal
year, Amcast has reduced debt by $18.9 million."





Amcast also announced the termination of discussions with Citation Corporation
relating to the possible sale of Amcast's Wapakoneta, Ohio, Richmond, Indiana
and Cedarburg, Wisconsin plants and its Southfield, Michigan office facility.

Mr. Pond, Chairman of the Board, said "As part of our loan agreements, we are
committed to a program to reduce our indebtedness that involves a review of
various alternatives to seek the best alternative for our stakeholders. We would
like to thank our lenders, customers, shareholders, employees and other
stakeholders for their loyal support as we move forward."

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 of the economy.

This release includes "forward-looking statements" which are subject to change
based on various factors and uncertainties that may cause actual results to
differ significantly from expectations. These factors include, among others:
general economic conditions less favorable than expected, fluctuating demand in
the automotive and housing industries, price pressures in the Company's
automotive and flow control businesses, effectiveness of production improvement
plans, inherent uncertainties in connection with international transactions and
foreign currency fluctuations, and labor availability and relations at the
Company and its customers, ability of the Company to satisfy obligations under,
and to comply with the covenants in, its loan documents, and the impact homeland
security measures.
Contact--
Media and Investors:  Michael Higgins 937/291-7015