Exhibit  4-11  -  First   Amendment   Agreement  dated  July  23,  2001  to  the
Last-In-First-Out Credit Agreement


                            FIRST AMENDMENT AGREEMENT

         This First 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
Last-In-First-Out  Credit  Agreement  dated as of June 5, 2001,  as the same may
from time to time be amended,  restated or otherwise  modified,  which provides,
among  other  things,  for loans and letters of credit  aggregating  Thirty-Five
Million Dollars  ($35,000,000),  all upon certain terms and conditions  ("Credit
Agreement");

         WHEREAS,  Borrower,  Agent  and the Banks  desire  to amend the  Credit
Agreement to modify certain provisions thereof; 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.       Amendment to Covenants.
                  ----------------------

         (i) The  Credit  Agreement  is hereby  amended  to delete  Section  4.7
therefrom in its entirety and to insert in place thereof the following:

                  Section 4.7. Financial Covenants. On or before August 6, 2001,
         Borrower   shall  enter  into  an  amendment  to  this  Agreement  (the
         "Financial  Covenant   Amendment")  with  Agent  and  the  Banks  which
         Financial Covenant Amendment shall provide for such financial covenants
         as Agent and the Banks deem  necessary  or  appropriate  based upon the
         Borrower  Business  Plan and then current  financial  conditions of the
         Companies,  which  Financial  Covenant  Amendment  shall be in form and
         substance satisfactory to Agent and the Banks.

         (ii) Section 4.9 of the Credit  Agreement  is hereby  amended to delete
subsection (f) therefrom and to insert in place thereof the following:

     (f)  Liens  on the  assets  of  Speedline  S.r.l  in  connection  with  the
          Indebtedness permitted pursuant to Section 4.8(f) hereof; or

     2.   New Covenant Regarding the Strategic Alternate Plan. Article IV of the
          Credit  Agreement is hereby  amended to add the  following new Section
          4.22 thereto:

                  Section 4.22. Strategic Alternative Review. In addition to the
         requirements  set forth in Section  3.2(c)  hereof with  respect to the
         delivery of the Borrower Business Plan, 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 Required Banks which review shall provide for  contingencies in
         the event that the Borrower Business Plan 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.


<PAGE>

         3. Real  Property  Deliveries.  Notwithstanding  anything in the Credit
Agreement  to the  contrary,  Borrower,  Agent and the Banks  hereby  agree that
Borrower shall provide to Agent the items set forth in Section  3.2(e)(i),  (ii)
and (iii) of the Credit Agreement on or before September 15, 2001 (or such later
date to which Agent and the Required 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 of the Subordination Agreement to September 15, 2001.

         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 4.12 of the Credit Agreement,
Borrower has requested  that Agent and the Required  Banks consent to the Merger
and the 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
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.


<PAGE>

         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.]




<PAGE>


         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


                                          BANK ONE INDIANA, N.A.

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


                                          THE BANK OF NEW YORK

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



<PAGE>






                                          FISTAR BANK, N.A.

                                          By:     /s/ Greg Wilson
                                          Name:       Greg Wilson
                                          Title:      AVP


                                          CREDIT AGRICOLE INDOSUEZ

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

                                          and     /s/ Paul A. Dytrych
                                          Name:       Paul A. Dytrych
                                          Title:      V.P./ Sr.Relationship Mgr.


                                          COMERICA BANK

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



                                          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





<PAGE>



                     GUARANTOR ACKNOWLEDGMENT AND AGREEMENT

         Each of the  undersigned  consents and agrees to and  acknowledges  the
terms of the foregoing First 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: Amcast Casting Technologies,Inc.
By:   /s/ Michael R. Higgins                      a General Partner
Name:     Michael R. Higgins
Title:    Treasurer                         By:   /s/ Denis G. Daly
                                            Name:     Denis G. Daly
                                            Title:    Secretary