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IMPCO Technologies, Inc. (Nasdaq: IMCO) announced today that its Advanced Technology Center in Irvine, California, has formed a strategic technology alliance with NASA Space Shuttle rocket booster manufacturer, Thiokol Propulsion, Alcoa Industrial Components Group, a subsidiary of Alcoa Inc., (NYSE: AA). The alliance provides IMPCO access to over 1,000 Thiokol scientists, engineers and support personnel experienced in the handling and management of hydrogen fuel and allows IMPCO to advance the commercialization of Thiokol’s unique composite conformable hydrogen fuel storage tank technology for the emerging automotive fuel cell markets.

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Syed Hussain, Vice President and General Manager of IMPCO’s Technology and Automotive OEM Division said, “This alliance is mutually beneficial to IMPCO and Thiokol. Our OEM customers will benefit by the expansion of IMPCO’s research capabilities and resources in hydrogen and CNG fuel technology. Thiokol benefits by maintaining its core competency and focus on research and development as IMPCO will manage the product development and commercialization of their technologies. This will broaden IMPCO’s product portfolio to our customers. We are delighted to partner with such a prominent company as Thiokol and we look forward to developing a long term relationship.”

Under the terms of the agreement, IMPCO will obtain exclusive manufacturing and distribution rights to technologies developed by Thiokol applicable to fuel delivery and storage systems for alternative fuel and fuel cell vehicles. The IMPCO-Thiokol alliance provides IMPCO access to over 1,000 Thiokol scientists, engineers and support personnel experienced in the handling and management of hydrogen fuel as well as many other energetic materials. One of the first products IMPCO will develop for commercialization is Thiokol’s unique, advanced composite conformable storage tank technology. This technology expands IMPCO’s product line and complements IMPCO’s “TriShield” ultra-lightweight composite gaseous fuel storage cylinders which are critical components required for optimizing the storage of on-board hydrogen fuel for fuel cell vehicles. The conformable tank technology allows for varying shapes, unlike conventional cylindrical shaped hydrogen storage tanks. Commercialization of fuel cell vehicles by the world’s major automobile manufacturing companies is anticipated to begin in 2003.

Recently, IMPCO announced it has been awarded a major $2.6M DOE contract for development of the next generation high performance hydrogen storage tank technology designed for use on internal combustion engine vehicles and fuel cell vehicle applications. Thiokol will also participate with IMPCO and the DOE in this program.

For more information, please contact:

IMPCO: Alan Niedzwiecki, Executive Director, Business Development, IMPCO Advanced Technology Center, Irvine, CA @ Tel: (949) 399-4552

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THIOKOL: Andy Haaland, Program Manager, Conformable Tank Technology,Thiokol Propulsion, Thiokol, UT @ (435) 863-6373.

IMPCO is a leading designer, manufacturer and supplier of fuel storage, fuel delivery and electronic control systems that allow internal combustion engines and fuel cells to operate using clean fuels such as hydrogen, propane, natural gas and methanol. IMPCO’s advanced fuel system technologies are designed to optimize efficiency and performance by electronically sensing and regulating the proper proportion of fuel and air used by internal combustion engines and fuel cell systems. IMPCO supplies its products and fuel system integration to original equipment manufacturers of motor vehicles, truck, buses, forklifts, material handling equipment and small portable to large stationary engines. IMPCO also supplies these products and services to the global aftermarket as well.

Headquartered in Cerritos, California, IMPCO has more than 400 distributors and dealers and 14 offices and facilities worldwide including: United States, Australia, Japan and Mexico, IMPCO operates in the Netherlands, France, Germany and the United Kingdom as IMCO-BERU Technologies, B.V. For additional information, please contact IMPCO’s website at: