AMG : Subsidiary Timminco Completes C$25 Million Equity Financing to Strengthen Balance Sheet

     AMG maintains at least 50.3% ownership position in Timminco

Amsterdam, 27  January  2009  --- AMG  Advanced  Metallurgical  Group
N.V.'s ("AMG", EURONEXT AMSTERDAM: "AMG") 50.34% subsidiary  Timminco
Limited ("Timminco"; TSX: TIM)  has agreed to issue  a total of  7.04
million common shares at  a price of C$3.55  per share for  aggregate
gross proceeds of C$25.0 million.   This equity financing will be  by
way of private placement  to certain investors, including  Timminco's
controlling shareholder,  AMG.  AMG  has agreed  to subscribe  for  a
minimum of 3.55 million common shares to be issued in this financing,
at  the  same  price  per  share  offered  to  all  other  investors,
representing C$12.6  million  of  the expected  gross  proceeds.   In
addition, AMG  has  agreed to  purchase  any of  the  remaining  3.49
million common shares that are not subscribed for by other  investors
in this financing,  at the same  price per share,  subject to  normal
closing conditions.   Proceeds  of the  financing  will be  used  for
general corporate purposes.
"While we believe that based  on our current cash position,  existing
credit facilities and expected cash flow from operations Timminco  is
adequately capitalized  to  finance  the  remainder  of  our  capital
expansion costs at our purification facilities in Bécancour,  Quebec,
we are completing this financing as a prudent contingency measure  in
light of the impact that  the current global economic conditions  are
having on  the  solar  photovoltaic industry,"  said  Mr.  Robert  J.
Dietrich, Executive  Vice President  -  Finance and  Chief  Financial
Officer of  Timminco.  "The  additional capital  from this  financing
will strengthen  our balance  sheet and  enable us  to better  manage
uncertainties associated with short-term demand from Timminco's solar
grade silicon customers, and potential risks with accounts receivable
payment  terms  and  outstanding  customer  deposits.   We  are  also
complementing this equity financing with several programs to generate
cash through the reduction of working capital."

"We are pleased that AMG has demonstrated a vote of confidence in our
Company and  our business  plans, by  agreeing to  participate in  at
least 50.4% -  and, if necessary,  up to 100%  - of this  financing,"
added Mr. Dietrich.

"This funding should  help enable Timminco  to achieve its  long-term
goals," stated Mr.  William Levy,  Chief Financial  Officer of  AMG.
"Despite the current economic situation, Timminco continues to  offer
a compelling value proposition to the crystalline solar market."

The financing  is  being co-led  by  Clarus Securities  Inc.  and  TD
Securities Inc. as Timminco's exclusive agents (the "Agents").

AMG currently owns  52.56 million  common shares  of Timminco.   Upon
completion of the private placement transaction, this is expected  to
increase to  56.11  million  common shares,  representing  50.34%  of
Timminco's  total  issued   and  outstanding   share  capital   after
completion of the offering, assuming  that the remaining 3.49  common
shares are subscribed for by other investors.

Completion of this financing, which is expected on or about  February
3, 2009, is  subject to  certain conditions,  including execution  of
definitive  documents  and  receipt   of  all  necessary   regulatory
approvals, including  approval of  the Toronto  Stock Exchange.   The
common shares to be issued pursuant to this private placement will be
subject to a four-month hold period from the date of closing.


About AMG

AMG, incorporated in the Netherlands, is a global leader in the
production of highly engineered specialty metal products and advanced
vacuum furnace systems.  AMG serves growing industries worldwide with
its unique combination of metallurgical engineering expertise and
production know-how.  AMG is a market leader in many of its products
and systems, which are critical to the production of key components
for the aerospace, energy (including solar and nuclear), electronics,
optics, chemicals, construction and transportation industries.  AMG
has two operating divisions of businesses, Advanced Materials and
Engineering Systems, and owns majority interests in publicly-listed
companies Timminco Limited (TSX: "TIM") and Graphit Kropfmühl AG
(Deutsche Börse: GKR.DE).

The Advanced Materials Division develops and produces niche specialty
metals and complex metals products, many of which are used in
demanding, safety-critical, high-stress environments.  AMG is one of
a limited number of significant producers globally of niche specialty
metals, such as ferrovanadium, ferronickel-molybdenum, aluminum
master alloys and additives, chromium metal and ferrotitanium, used
by steel, aluminum, chemical and superalloy producers for aerospace,
automotive, energy, electronics, optics, chemicals, construction and
other applications.  Other key products produced by AMG include
specialty alloys for titanium and superalloys, coating materials,
tantalum and niobium oxides, vanadium chemicals and antimony
trioxide.

The Engineering Systems Division designs, engineers and produces
advanced vacuum furnace systems and operates vacuum heat treatment
facilities.  AMG is a global leader in supplying
technologically-advanced vacuum furnace systems to customers in the
aerospace, energy (including solar and nuclear), transportation,
electronics, superalloys and specialty steel industries.  Examples of
furnace systems produced by AMG include vacuum remelting, solar
silicon melting and crystallization, vacuum induction melting, vacuum
heat treatment and high pressure gas quenching, vacuum precision
casting, turbine blade coating and sintering.  AMG also provides
vacuum case-hardening heat treatment services on a tolling basis to
customers through facilities equipped with vacuum heat treatment
furnaces.

Timminco Limited is a majority controlled, publicly listed subsidiary
of AMG. Timminco is a leader in the production of upgraded
metallurgical silicon for the rapidly growing solar photovoltaic
energy industry. Timminco also produces silicon metal and magnesium
products for use in a broad range of industrial applications.

Graphit Kropfmühl AG is a majority controlled, publicly listed
subsidiary of AMG.  Based on its secure raw material sources in
Africa, China and Europe, Graphit Kropfmühl is a specialist in the
production of silicon metal and the extraction, processing and
refining of natural crystalline graphite for a wide range of energy
saving industrial applications.

AMG operates globally with production facilities in Germany, the
United Kingdom, France, Czech Republic, the United States, Canada,
Mexico, Brazil, Sri Lanka and Australia and also has sales and
customer service offices in Belgium, Russia, China and Japan
(website: www.amg-nv.com).


For further information please contact:

AMG Advanced Metallurgical Group N.V.   [phone]
Jonathan Costello
Director of Corporate Communications
[e-mail]


Timminco Limited      [phone]
Robert Dietrich
Executive Vice President and CFO
[e-mail]


Disclaimer

Certain statements in this press release are not historical facts and
are "forward looking".  Forward looking statements include statements
concerning  AMG's  plans,   expectations,  projections,   objectives,
targets,  goals,  strategies,  future  events,  future  revenues   or
performance,  capital  expenditures,   financing  needs,  plans   and
intentions relating to acquisitions, AMG's competitive strengths  and
weaknesses,  plans  or  goals  relating  to  forecasted   production,
reserves, financial position and  future operations and  development,
AMG's business  strategy  and  the  trends  AMG  anticipates  in  the
industries and  the  political  and legal  environment  in  which  it
operates and other information  that is not historical  information.
When used in  this press  release, the  words "expects,"  "believes,"
"anticipates,"  "plans,"   "may,"  "will,"   "should,"  and   similar
expressions, and  the negatives  thereof,  are intended  to  identify
forward looking statements.   By their very  nature, forward  looking
statements involve inherent risks and uncertainties, both general and
specific,  and   risks  exist   that  the   predictions,   forecasts,
projections  and  other  forward  looking  statements  will  not   be
achieved.  These forward looking statements speak only as of the date
of this press  release.  AMG  expressly disclaims  any obligation  or
undertaking to  release  publicly any  updates  or revisions  to  any
forward looking statement contained herein  to reflect any change  in
AMG's expectations  with  regard thereto  or  any change  in  events,
conditions, or circumstances on  which any forward looking  statement
is based.

AMG Subsidiary Timminco  Completes C$25 Million  Equity Financing  to
Strengthen Balance Sheet


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