Exhibit 10.20

                        AMCAST INDUSTRIAL CORPORATION
                             INDUSTRIAL CORPORATION

                             STOCK OPTION AGREEMENT


         Amcast  Industrial  Corporation,  an Ohio  corporation (the "Company"),
hereby grants,  under and pursuant to the Agreement between the Optionee and the
Company for Optionee to accept employment with the Company to

                  Samuel T. Rees                                  ("Optionee")
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Effective the 22nd day of August , 2001(the  "date of grant"),  for the purposes
set forth in the Plan,  the right and option to purchase  10,000,  Ten  Thousand
Common Shares of the Company ("Shares") at the purchase price of $8.49 per Share
(the "Option").

         The  Option  granted  herein is  granted  subject  to all the terms and
conditions  of the  Agreement,  including,  but not  limited  to, the  following
provisions:

1. The Option shall expire at the close of business five years after the date of
the date of Grant of the option  shares  unless  sooner  terminated or exercised
pursuant to the terms of the Plan;

2.  Pursuant  to  the  Agreement,  the  option  shares  shall  vest  and  become
exercisable as follows: One year after the date of grant.

3. Optionee  shall forfeit all right and interest in any unvested  option shares
if he is not employed by the Company on the vesting date,

4. The option may be exercised at any time up to five years  following  the date
of grant of the option shares.

5. The Option may not be transferred,  assigned, pledged, or hypothecated by the
Optionee during his lifetime.


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6. In the event Optionee ceases to be employed by the Company or a subsidiary of
the Company for any reason other than gross  misconduct or death, the Option may
be exercised within seven months after  Optionee's  termination of employment to
the extent the Option was  exercisable on the date of termination of employment.
In the event  Optionee dies while employed by the Company or a subsidiary of the
Company or within three months after Optionee's  termination of employment,  the
Option may be exercised  within one year after the date of  Optionee's  death to
the extent  Optionee  was  entitled  to  exercise  it on the date of  Optionee's
termination  of employment by the person or persons  (including  the  Optionee's
estate) to whom Optionee's  rights under the Option shall have passed by will or
by the laws of descent  and  distribution.  In the event  Optionee  ceases to be
employed  because of gross  misconduct,  the Option  shall expire on the date of
termination of Optionee's employment.

7. In the event of a Change of Control of the Company,  as defined in the Change
of Control  Agreements  between the Company and certain employees of the Company
approved by the board on August 31, 2000, the Option shall vest immediately.

IN WITNESS  WHEREOF,  the Company has executed this Option as of the 22nd day of
August 2001.


                          AMCAST INDUSTRIAL CORPORATION



                          By:      /s/ Byron O. Pond, Jr.
                             -------------------------------
                                Byron O. Pond, Jr.
                                President and Chief Executive Officer




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(CORPORATE SEAL)



Attest:


 /s/ Denis G. Daly
---------------------------
Secretary



                                             /s/ Samuel T. Rees
                                            -----------------------------
                                            Samuel T. Rees
                                            Optionee