Monomoy Capital Partners to Acquire Casting Technology Company.

NEW YORK -- Monomoy Capital Partners, L.P. ("Monomoy") today announced that it has agreed to purchase Casting Technology Company ("CTC" or the "Company"), a specialty manufacturer of aluminum automotive components for domestic and transplant original equipment manufacturers. Financial terms of the transaction were not disclosed.

Monomoy will acquire all of the operating assets of CTC from the estate of Amcast Industrial Corporation through a pre-negotiated sale of assets under Section 363 of the Bankruptcy Code. The sale was approved today by Bankruptcy Court for the Southern District of Indiana, and the parties expect to close the transaction by no later than June 7, 2006.

CTC utilizes proprietary squeeze cast technology to cast and produce steering knuckles and compressor scrolls for Honda, Nissan, GM and Opel-Europe. The squeeze cast process allows the Company to produce lightweight, safety critical automotive parts with the shape and strength characteristics of a forged component at a fraction of the cost. CTC is located in Franklin, Indiana and has operated as a successful but largely neglected division of Amcast since 1992.

"CTC is a terrific operating division of a troubled, bankrupt company," stated Justin Hillenbrand, a Monomoy principal. "We believe in the Company's squeeze cast technology; we have great confidence in Craig Conaty and his management team; and we admire the Company's spotless manufacturing record over the past five years. The Monomoy acquisition will transform CTC into a standalone business and provide CTC with unprecedented financial and strategic resources."

Monomoy will retain the current operating management of CTC, including Craig Conaty, Jerry Pilman, Dave Gerken and Mark George, and will provide the new company with a new financial team. Craig Conaty, the current general manager of the CTC division, will assume the position of Chief Executive Officer of the new company. Conway, Mackensie and Dunleavy will provide interim management services over the next six months.

"This transaction presents a tremendous opportunity for CTC," Mr. Conaty explained. "Monomoy has made a substantial investment in our core business and has developed a comprehensive program that will improve every aspect of the Company. Their experience in business restructuring and bankruptcy has helped us turn a difficult situation into an exciting new direction for CTC, its employees and customers."

Monomoy has reached agreement in principle with SMW, Sanden, GM, Metaldyne, TRW and Opel to continue and expand CTC's current component contracts and has concluded discussions with the Company's largest suppliers to provide trade terms upon the closing of the acquisition. "The cooperation of SMW and Nissan were instrumental to this transaction," said Mr. Hillenbrand. "We thank both for their support and we look forward to a seamless transition to the new CTC on June 7."

The acquisition of CTC is the fourth by Monomoy since August of 2005 and will join Awrey Bakeries, LLC, Hess Industries, Inc., and Barjan, LLC in the Monomoy portfolio. Richard Porter, Kevin Morris and James Mazza of Kirkland & Ellis, L.P. represented Monomoy in the transaction.

About Monomoy Capital Partners, L.P.

Monomoy Capital Partners, L.P. is a private equity fund founded in March 2005 to make controlling investments in smaller middle-market companies that require operational or financial restructuring. Monomoy targets fundamentally sound businesses with revenues less than $150 million and acquires businesses through bankruptcy, out-of-court restructurings, corporate divestitures and other complex transactions. For additional information, please visit www.mcpfunds.com.