NEWS RELEASE

                                AMCAST ANNOUNCES
                                SALE OF SPEEDLINE
                                       And
                       CONTINUED NYSE LISTING UNDER REVIEW

DAYTON, OHIO, March 17, 2003 - Amcast Industrial  Corporation,  (AIZ-NYSE) today
announced  that it has  sold  Speedline,  its  Italian  wheel  subsidiary,  to a
European-based company. The net proceeds from the sale will be negligible.

Byron  O.  Pond,  Chairman  of the  Board  and  Chief  Executive  Officer,  said
"Speedline's  recent  operating  performance has had a significant,  detrimental
impact on Amcast's  profitability.  The transaction  should return the remaining
Amcast businesses to positive net earnings in its third fiscal quarter. However,
the impact of the  disposal of  Speedline,  which will be  reflected in Amcast's
second  quarter  results,  is  anticipated  to result  in a pretax  book loss of
approximately  $56 million.  Amcast's  second quarter  earnings  announcement is
expected  to be  released on March 26 and will  provide  additional  information
concerning this transaction and its financial impact on the company."

Mr.  Pond  continued,  "Amcast  acquired  Speedline  in 1997 with the  intent of
increasing the geographic  scope of the Company's wheel business.  The Speedline
acquisition  allowed Amcast to enter the European market with a  well-recognized
name and a meaningful  market  position.  Despite our additional  investments in
Speedline,  its  unfavorable  cost structure did not allow us to maintain market
position and generate adequate returns in the face of changing market conditions
and  increased  competition.  The sale allows us to exit this business and focus
our  efforts  and  resources  on our  domestic  businesses  where  we  see  more
opportunity. "

Amcast also announced that the New York Stock Exchange,  Inc.  ("NYSE") issued a
letter  indicating  that the Company is below criteria for the NYSE's  continued
listing  standards.  The  Company  no longer  meets the equity  standard,  which
requires a listed company to have an average market  capitalization  of not less
than $50 million over a 30 trading-day  period and  stockholders'  equity of not
less than $50 million. The Company has expected this action and is reviewing its
available  alternatives  to assure a continuous  public  trading  market for its
common shares.

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, and the impact of possible war with Iraq and homeland
security measures.


Contact--
Media and Investors:  Michael Higgins 937/291-7015


