Exhibit 4.8 - Seventh Amendment Agreement Dated July 23, 2001


                           SEVENTH AMENDMENT AGREEMENT

         This Seventh Amendment  Agreement (this "Amendment") is made as of July
23,  2001,  by and among  AMCAST  INDUSTRIAL  CORPORATION,  an Ohio  corporation
("Borrower"),  the  banking  institutions  named  in  Schedule  1 to the  Credit
Agreement,  as hereinafter defined ("Banks"),  and KEYBANK NATIONAL ASSOCIATION,
as agent for the Banks ("Agent"):

         WHEREAS,  Borrower, Agent and the Banks are parties to a certain Credit
Agreement  dated as of August 14, 1997, as amended and as the same may from time
to time be further  amended,  restated or otherwise  modified,  which  provides,
among  other  things,  for loans and letters of credit  aggregating  Two Hundred
Million Dollars  ($200,000,000),  all upon certain terms and conditions ("Credit
Agreement");

         WHEREAS,  reference  is made herein to the Sixth  Amendment  Agreement,
dated as of June 5, 2001 (the "Sixth Amendment"),  by and among Borrower,  Agent
and the Banks,  wherein certain  provisions of the Credit Agreement were amended
and  certain  other  agreements  among  Borrower,   Agent  and  the  Banks  were
established;

         WHEREAS,  Borrower,  Agent  and the Banks  desire  to amend the  Credit
Agreement to modify  certain  provisions  of the Credit  Agreement and the Sixth
Amendment; and

         WHEREAS,  each  capitalized  term  used  herein  shall  be  defined  in
accordance with the Credit Agreement;

         NOW,  THEREFORE,  in  consideration  of the  premises and of the mutual
covenants herein and for other valuable considerations,  Borrower, Agent and the
Banks agree as follows:

         1.       Amendments to Credit Agreement.
                  ------------------------------

         (a) Article I of the Credit  Agreement is hereby  amended to delete the
definition  of  "Commitment  Period"  therefrom in its entirety and to insert in
place thereof the following:

                  "Commitment  Period"  shall mean the period  from the  Closing
         Date  to  September  15,  2002,  or such  earlier  date  on  which  the
         Commitment shall have been terminated pursuant to Article VIII hereof.

     (b)  Article  IV of the  Credit  Agreement  is  hereby  amended  to add the
following new Section 5.28 thereto:
                  Section  5.28.  Strategic  Alternative  Review.  On or  before
         November 30, 2001, Borrower shall have delivered to Agent and the Banks
         a  strategic   alternative   review  in  form  and  detail   reasonably
         satisfactory to Agent and the Majority Banks which review shall provide
         for  contingencies  in the event that the  Borrower  Business  Plan (as
         defined in the LIFO Credit Agreement) is proving to be unsuccessful and
         either an Event of Default  shall have  occurred or an Event of Default
         is likely to exist at the end of the next  fiscal  quarter  ("Strategic
         Alternative Review").  The Strategic Alternative Review shall include a
         comprehensive   review   that  shall  set  forth   specific   strategic
         alternatives to those set forth in the Borrower Business Plan that will
         result  in a  significant  reduction  in  the  amount  of  Indebtedness
         outstanding  by the  Companies  by the end of  Borrower's  fiscal  year
         ending on or about August 31, 2002.

         2. Interest on Prime Rate Loans. Notwithstanding anything in the Credit
Agreement  to the  contrary,  Borrower,  Agent and the Banks  hereby agree that,
commencing  August 1, 2001,  Borrower shall pay interest on the unpaid principal
amount of Prime  Rate  Loans  outstanding  from time to time on the first day of
each month and at the maturity thereof.

         3. Real  Property  Deliveries.  Notwithstanding  anything in the Credit
Agreement or the Sixth Amendment to the contrary,  Borrower, Agent and the Banks
hereby agree that Borrower shall provide to Agent the items set forth in Section
14(b)(ii), (iii) and (iv) of the Sixth Amendment on or before September 15, 2001
(or such later date to which Agent and the Majority  Banks shall have  consented
in writing). In addition, Borrower, Agent and the Banks also agree to extend the
time period set forth in Section 6.3 in the Subordination Agreement to September
15,  2001 (or such later date to which Agent and the  Majority  Banks shall have
consented in writing).

         4. CTC  Reorganization.  Borrower has informed Agent and the Banks that
Izumi, Inc., a Delaware corporation  ("Izumi"),  desires to merge (the "Merger")
with  and  into  Amcast  Casting  Technologies,  Inc.,  an  Indiana  corporation
("ACTI").  Presently, Casting Technology Company, an Indiana general partnership
("CTC"),  has two general partners,  Izumi and ACTI. Pursuant to the Merger, CTC
will be dissolved and terminated in accordance with the general partnership laws
of the  State of  Indiana,  all of the  assets  and  liabilities  of CTC will be
transferred to ACTI (the "Asset  Transfer") and the name of ACTI will be changed
to Casting Technology Company. Pursuant to Section 5.11 of the Credit Agreement,
Borrower has requested  that Agent and the Required  Banks consent to the Merger
and the Asset Disposition,  notwithstanding  the prohibition against such Merger
and Asset  Transfer.  Agent and the Required  Banks,  by signing this Amendment,
hereby consent to the Merger and the Asset Transfer.

         5.  Representations  and  Warranties.  Borrower  hereby  represents and
warrants  to Agent  and the Banks  that (a)  Borrower  has the  legal  power and
authority to execute and deliver this  Amendment;  (b) the  officials  executing
this  Amendment  have been duly  authorized  to execute and deliver the same and
bind  Borrower  with respect to the  provisions  hereof;  (c) the  execution and
delivery  hereof by Borrower and the  performance  and observance by Borrower of
the  provisions  hereof  do not  violate  or  conflict  with the  organizational
agreements  of Borrower or any law  applicable to Borrower or result in a breach
of  any  provision  of or  constitute  a  default  under  any  other  agreement,
instrument or document  binding upon or  enforceable  against  Borrower;  (d) no
Unmatured  Event  of  Default  or Event  of  Default  exists  under  the  Credit
Agreement,  nor will any occur  immediately  after the execution and delivery of
this Amendment or by the performance or observance of any provision hereof;  (e)
neither Borrower nor any Subsidiary has any claim or offset against,  or defense
or  counterclaim  to,  any of  Borrower's  or any  Subsidiary's  obligations  or
liabilities  under the Credit  Agreement  or any Related  Writing;  and (f) this
Amendment  constitutes  a valid and  binding  obligation  of  Borrower  in every
respect, enforceable in accordance with its terms.

         6. Credit  Agreement  Unaffected.  Each  reference  that is made in the
Credit Agreement or any other writing to the Credit Agreement shall hereafter be
construed as a reference to the Credit  Agreement as amended  hereby.  Except as
herein otherwise  specifically  provided, all provisions of the Credit Agreement
shall remain in full force and effect and be unaffected hereby.

         7.  Waiver.  Borrower and each  Subsidiary,  by signing  below,  hereby
waives and releases Agent and each of the Banks and their respective  directors,
officers,  employees,  attorneys,  affiliates and subsidiaries  from any and all
claims, offsets, defenses and counterclaims of which Borrower and any Subsidiary
is aware, such waiver and release being with full knowledge and understanding of
the  circumstances  and effect thereof and after having  consulted legal counsel
with respect thereto.

         8.  Counterparts  This  Amendment  may be  executed  in any  number  of
counterparts,  by  different  parties  hereto in  separate  counterparts  and by
facsimile  signature,  each of which when so  executed  and  delivered  shall be
deemed to be an original and all of which taken  together  shall  constitute but
one and the same agreement.

     9. Governing Law. The rights and obligations of all parties hereto shall be
governed  by the laws of the  State of Ohio,  without  regard to  principles  of
conflicts of laws.
                                   [Remainder of page intentionally left blank.]



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                                                   5 of 3 of the
                           Seventh Amendment Agreement

         10. JURY TRIAL WAIVER.  BORROWER,  AGENT,  THE BANKS AND EACH GUARANTOR
HEREBY  WAIVE ANY RIGHT TO HAVE A JURY  PARTICIPATE  IN  RESOLVING  ANY DISPUTE,
WHETHER  SOUNDING IN CONTRACT,  TORT OR OTHERWISE,  AMONG BORROWER,  AGENT,  THE
BANKS,  EACH  GUARANTOR,  OR ANY THEREOF,  ARISING OUT OF, IN  CONNECTION  WITH,
RELATED  TO,  OR  INCIDENTAL  TO THE  RELATIONSHIP  ESTABLISHED  AMONG  THEM  IN
CONNECTION  WITH THIS  AGREEMENT  OR ANY NOTE OR OTHER  INSTRUMENT,  DOCUMENT OR
AGREEMENT  EXECUTED OR  DELIVERED  IN  CONNECTION  HEREWITH OR THE  TRANSACTIONS
RELATED THERETO. THIS WAIVER SHALL NOT IN ANY WAY AFFECT, WAIVE, LIMIT, AMEND OR
MODIFY  AGENT'S  OR ANY  BANK'S  ABILITY  TO  PURSUE  REMEDIES  PURSUANT  TO ANY
CONFESSION  OF  JUDGMENT OR COGNOVIT  PROVISION  CONTAINED  IN ANY NOTE OR OTHER
INSTRUMENT,  DOCUMENT OR AGREEMENT AMONG  BORROWER,  AGENT AND THE BANKS, OR ANY
THEREOF.


                                          AMCAST INDUSTRIAL CORPORATION

                                          By:   /s/ Francis J. Drew
                                          Name:     Francis J. Drew
                                          Title:    Vice President


                                          KEYBANK NATIONAL ASSOCIATION,
                                             as Agent and as a Bank

                                          By:   /s/ Dale A. Clayton
                                          Name:     Dale A. Clayton
                                          Title:    Vice President


                                          INTESABCI  -  CHICAGO BRANCH
                                             (successor in interest to Banca
                                             Comerciale Italiana)

                                          By:   /s/ Charles Dougherty
                                          Name:     Charles Dougherty
                                          Title:    Vice President

                                          and   /s/ J. Dickerhof
                                          Name:     J. Dickerhof
                                          Title:    Vice President


                                          THE BANK OF NEW YORK

                                          By:   /s/ Stephen C. Brennan
                                          Name:     Stephen C. Brennan
                                          Title:    Vice President

<PAGE>


                                          BANK ONE INDIANA, N.A.

                                          By:   /s/ Jeffrey C. Nicholson
                                          Name:     Jeffrey C. Nicholson
                                          Title:    Vice President


                                          CREDIT AGRICOLE INDOSUEZ
                                            (successor in interest to Caisse
                                            Nationale de Credit Agricole)

                                          By:   /s/ Larry Materi
                                          Name:     Larry Materi
                                          Title:    Vice President

                                          and   /s/ Paul A. Dytrych
                                          Name:     Paul A. Dytrych
                                          Title:    Senior Relationship Manager


                                          COMERICA BANK

                                          By:   /s/ Nicholas G. Mester
                                          Name:     Nicholas G. Mester
                                          Title:    Assistant Vice President


                                          UNICREDITO ITALIANO SPA

                                          By:   /s/ Christopher J. Eldin
                                          Name:     Christopher J. Eldin
                                          Title:    F.V.P. & Deputy Manager

                                          and   /s/ Charles Michael
                                          Name:     Charles Michael
                                          Title:    Vice President


                                          SANPAOLO IMI S.p.A.

                                          By:   /s/ Luca Sacchi
                                          Name:     Luca Sacchi
                                          Title:    Vice President

                                          and   /s/ Giuseppe Cuccurese
                                          Name:     Giuseppe Cuccurese
                                          Title:    C.E.O. Area Americas



                                                                          <PAGE>



                                          NATIONAL CITY BANK
                                           (successor  in  interest to  National
                                           City Bank of Dayton)

                                          By:   /s/ Neal J. Hinker
                                          Name:     Neal J. Hinker
                                          Title:    Senior Vice President


                                          BANK ONE INDIANA, N.A.
                                            (successor by merger to NBD Bank)

                                          By:   /s/ Jeffrey C. Nicholson
                                          Name:     Jeffrey C. Nicholson
                                          Title:    Vice President


                                          FIRSTAR BANK, N.A.
                                            (fka STAR BANK, N.A.)

                                          By:   /s/ Greg Wilson
                                          Name:     Greg Wilson
                                          Title:    AVP / Its attorney-in-fact








<PAGE>



                     GUARANTOR ACKNOWLEDGMENT AND AGREEMENT

         Each of the  undersigned  consents and agrees to and  acknowledges  the
terms of the foregoing  Seventh  Amendment  Agreement dated as of July 23, 2001.
Each of the undersigned  specifically  acknowledges  the terms of and consent to
the waivers set forth therein.  Each of the undersigned  further agrees that the
obligations of each of the undersigned  pursuant to the Guaranties of Payment of
Debt executed by each of the  undersigned  shall remain in full force and effect
and be unaffected hereby.

         Each of the undersigned,  by signing below,  hereby waives and releases
Agent and each of the Banks and their respective directors, officers, employees,
attorneys,  affiliates  and  subsidiaries  from  any  and all  claims,  offsets,
defenses and counterclaims of which any of the undersigned is aware, such waiver
and release being with full knowledge and understanding of the circumstances and
effect thereof and after having consulted legal counsel with respect thereto.

         JURY TRIAL WAIVER. BORROWER, AGENT, THE BANKS AND EACH GUARANTOR HEREBY
WAIVE ANY RIGHT TO HAVE A JURY  PARTICIPATE  IN RESOLVING  ANY DISPUTE,  WHETHER
SOUNDING IN CONTRACT, TORT OR OTHERWISE,  AMONG BORROWER, AGENT, THE BANKS, EACH
GUARANTOR,  OR ANY THEREOF,  ARISING OUT OF, IN CONNECTION WITH,  RELATED TO, OR
INCIDENTAL TO THE  RELATIONSHIP  ESTABLISHED  AMONG THEM IN CONNECTION WITH THIS
AGREEMENT OR ANY NOTE OR OTHER  INSTRUMENT,  DOCUMENT OR  AGREEMENT  EXECUTED OR
DELIVERED IN  CONNECTION  HEREWITH OR THE  TRANSACTIONS  RELATED  THERETO.  THIS
WAIVER SHALL NOT IN ANY WAY AFFECT, WAIVE, LIMIT, AMEND OR MODIFY AGENT'S OR ANY
BANK'S  ABILITY TO PURSUE  REMEDIES  PURSUANT TO ANY  CONFESSION  OF JUDGMENT OR
COGNOVIT  PROVISION  CONTAINED  IN ANY NOTE OR  OTHER  INSTRUMENT,  DOCUMENT  OR
AGREEMENT AMONG BORROWER, AGENT, THE BANKS AND GUARANTORS, OR ANY THEREOF.


ELKHART PRODUCTS CORPORATION               AMCAST INVESTMENT SERVICES
AMCAST AUTOMOTIVE OF INDIANA,                 CORPORATION
   INC. (fka Wheeltek, Inc.)
AS INTERNATIONAL, INC.                     By:   /s/ Francis J. Drew
                                           Name:     Francis J. Drew
IZUMI, INC.                                Title:    Vice President
AMCAST CASTING TECHNOLOGIES, INC.
AMCAST INDUSTRIAL FINANCIAL SERVICES,INC.  CASTING TECHNOLOGY COMPANY
By:   /s/ Michael R. Higgins               By: Amcast Casting Technologies, Inc.
Name:     Michael R. Higgins                   a General Partner
Title:    Treasurer

                                            By:   /s/ Denis G. Daly
                                            Name:     Denis G. Daly
                                            Title:    Secretary



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