IMPCO Completes Emission Certified Engine Approvals

CERRITOS, Calif., Dec. 17, 2003 -- IMPCO Technologies, Inc. announced today it has received Executive Order approval from the California Air Resources Board (CARB) for the General Motors 3.0 Lt., the Mitsubishi 2.0 Lt. and the Mitsubishi 2.4 Lt. industrial engines. This approval confirms the engines, with the new IMPCO Spectrum(R) electronic emissions control system, comply with the new CARB and Federal EPA off-road industrial emission standards that become effective January 1, 2004. This brings the total number of emission certified engine configurations IMPCO has earned this year to 10 and completes the company's certification strategy for 2004 certified engine products. Additionally, it positions IMPCO as the leading Tier I supplier of certified engines and fuel systems to off-highway industrial Original Equipment Manufacturers (OEMs) with products that can be applied to more equipment applications than any other supplier.

Mr. Brad Garner, IMPCO Vice President and Chief Operating Officer for Americas & Asia Pacific, said: "This approval clears the way for IMPCO to execute existing and pending orders for certified engine systems that enable OEMs to meet the new emission regulations." He added: "We have commitments in place for shipments that will begin in the fourth quarter of 2003 with potential incremental revenue growth next year of over $35 million. IMPCO has previously announced receiving orders from industry leading OEMs like NACCO and Mitsubishi Caterpillar and we expect further commitments will come as OEMs prepare to meet this new emission regulation."

Effective January 1, 2004, all new off-highway mobile equipment manufactured for the US market will have to meet stringent new CARB and Environmental Protection Agency (EPA) emission regulations which require the use of emission certified engines and fuel systems. Typical off-highway equipment applications impacted by this new regulation are material handling equipment; forklift trucks; sweepers; tugs; and portable generators. The new emission certified market in the US is estimated to be $180 million annually and is forecasted to grow to $400 million annually in 2006 when Europe and Japan are expected to implement the same off-highway industrial emission regulations.

Regarding IMPCO:

IMPCO and BRC design, manufacture, market and supply advanced alternative fuel systems and related products for the transportation, industrial and power generation markets. Headquartered in Cerritos, California and Cherasco, Italy, they have offices in Asia, Europe, Australia and South and North America. More information can be found at IMPCO's web site, http://www.impco.ws/ and at BRC's web site, http://www.brc.it/ .