Accuride Corporation Reports Third Quarter Results for 2002

    EVANSVILLE, Ind.--Oct. 31, 2002--Accuride Corporation today announced net sales of $93.0 million for the third quarter ended September 30, 2002. This compares to net sales of $77.7 million for the third quarter of 2001, an increase of 19.6%. For the nine months ended September 30, 2002, net sales were $265.4 million compared to net sales of $260.7 million for the same nine-month period in 2001, an increase of 1.8%.
    Adjusted EBITDA of $19.5 million for the third quarter ended September 30, 2002, is up $9.5 million or 95% from $10.0 million for the third quarter of 2001. The resulting adjusted EBITDA margin has increased to 20.9% of net sales from 12.9% of net sales in last year's third quarter. For the first nine months of 2002, adjusted EBITDA increased by $19.9 million, or 61.6%, to reach $52.1 million.
    The Company's liquidity position remained strong at September 30, 2002, with $28.1 million in cash and revolver availability of $27.5 million.
    "As expected, we experienced another strong quarter ahead of the October 1, 2002 EPA emission compliance deadline and are pleased that our operating performance continues to show strong incremental improvements," said Terry Keating, Accuride's President and CEO. "We are encouraged to see the fourth quarter order book filling in as planned, certainly ahead of the weak environment of last year's fourth quarter."
    Accuride Corporation is North America's largest manufacturer and supplier of wheels for heavy/medium trucks and trailers. The Company offers the broadest product line in the North American heavy/medium wheel industry and is the only North American manufacturer and supplier of both steel and forged aluminum heavy/medium wheels. Accuride Corporation also produces wheels for buses, commercial light trucks and sport utility vehicles, and for passenger cars. Accuride Corporation has steel wheel operations in Henderson, Kentucky; London, Ontario, Canada; and in Monterrey, Mexico. Accuride has aluminum wheel operations in Erie, Pennsylvania, and Cuyahoga Falls, Ohio. Additionally, the Company produces tire molds at its Erie, Pennsylvania, facility. Accuride is also involved in a commercial tire and wheel assembly joint venture in Springfield, Ohio, and Talbotville, Ontario, Canada. For more information, visit Accuride's website at http://www.accuridecorp.com.
    Statements contained in this news release that are not purely historical are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding the Company's expectations, hopes, beliefs and intentions on strategies regarding the future. It is important to note that the Company's actual future results could differ materially from those projected in such forward-looking statements because of a number of factors, including but not limited to general economic, business and financing conditions, labor relations, governmental action, competitor pricing activity, expense volatility and other risks detailed from time to time in the Company's Securities and Exchange Commission filings. Accuride assumes no obligation to update the information included in this release.


                         ACCURIDE CORPORATION
                   CONSOLIDATED STATEMENTS OF INCOME
                        (DOLLARS IN THOUSANDS)
                              (UNAUDITED)

                                  Three Months Ended September 30,
                                  -------------------------------
                                         2002         2001
                                      ---------    ---------

NET SALES                             $  92,972    $  77,714   
COST OF GOODS SOLD                       73,923       67,935   
                                      ---------    ---------
GROSS PROFIT                          $  19,049    $   9,779   

OPERATING EXPENSES:
  Selling, General & Administrative       6,652        7,706   
                                      ---------    ---------

INCOME FROM OPERATIONS                   12,397        2,073   

OTHER INCOME (EXPENSE):
  Interest Income                            98          226   
  Interest (Expense)                    (10,209)     (10,569)  
  Equity in Earnings of Affiliates          111           28   
  Other Income (Expense), Net            (4,017)      (7,413)  
                                      ---------    ---------

INCOME (LOSS) BEFORE INCOME TAXES        (1,620)     (15,655)  

INCOME TAX PROVISION (BENEFIT)           (1,027)      (5,350)
                                      ---------    ---------

NET INCOME (LOSS)                     $    (593)   $ (10,305)  
                                      =========    =========


                                   Nine Months Ended September 30,
                                   ------------------------------
                                         2002         2001
                                      ---------    ---------

NET SALES                             $ 265,361    $ 260,700   
COST OF GOODS SOLD                      214,806      230,068   
                                      ---------    ---------
GROSS PROFIT                          $  50,555    $  30,632   

OPERATING:
  Selling, General & Administrative      20,957       25,183   
                                      ---------    ---------

INCOME FROM OPERATIONS                   29,598        5,449   

OTHER INCOME (EXPENSE):
  Interest Income                           222        1,244   
  Interest (Expense)                    (30,318)     (30,782)  
  Equity in Earnings of Affiliates          216          218   
  Other Income (Expense), Net            (1,464)      (8,011)  
                                      ---------    ---------

INCOME (LOSS) BEFORE INCOME TAXES        (1,746)     (31,882)  

INCOME TAX PROVISION (BENEFIT)              244       (9,432)  
                                      ---------    ---------

NET INCOME (LOSS)                     $  (1,990)   $ (22,450)  
                                      =========    =========



                         ACCURIDE CORPORATION
                     CONSOLIDATED ADJUSTED EBITDA
                        (DOLLARS IN THOUSANDS)
                              (UNAUDITED)

                            Three Months Ended September 30,
                                     2002      2001
                                   -------   -------

INCOME FROM OPERATIONS             $12,397   $ 2,073
Depreciation and Amortization        6,243     7,677
Equity in Earnings of Affiliates       111        28
                                   -------   -------
EBITDA                             $18,751   $ 9,778
                                   =======   =======

ADJUSTMENTS                            704       224
                                   -------   -------

ADJUSTED EBITDA                    $19,455   $10,002
                                   =======   =======


                            Nine Months Ended September 30,
                                     2002      2001
                                   -------   -------
INCOME FROM OPERATIONS             $29,597   $ 5,449
Depreciation and Amortization       19,734    22,073
Equity in Earnings of Affiliates       216       218
                                   -------   -------
EBITDA                             $49,547   $27,740
                                   =======   =======

ADJUSTMENTS                          2,564     4,516
                                   -------   -------

ADJUSTED EBITDA                    $52,111   $32,256
                                   =======   =======

	   Adjusted EBITDA is not intended to represent cash flows as defined
    by GAAP. It is included in our report as it is a basis upon which
    the Company assesses its financial performance and certain
    covenants in the Company's borrowing arrangements are tied to
    similar measures. Depreciation and amortization excludes
    amortization of deferred Financing costs which are classified as
    interest expense and therefore are not components of income from
    operations.

	   Adjusted EBITDA for 2002 represents income from operations plus
    depreciation plus equity in earnings of affiliates, plus (i) $1.0
    million of costs related to a reduction in the employee workforce,
    (ii) $0.8 million of costs related to the consolidation of light
    wheel production, (iii) $0.4 million of costs related to non-cash
    expenses associated with the recently resolved labor dispute at
    the Henderson, Kentucky, facility (iv) $0.4 million of costs
    related to other non-recurring costs. Adjusted EBITDA for 2001
    represents income from operations plus depreciation plus equity in
    earnings of affiliates, plus (i) $1.4 million of costs related to
    a reduction in the employee workforce, (ii) $2.9 million of costs
    related to the restructuring of light wheel production, (iii) $0.2
    million of costs related to the amendment to the Company's senior
    credit facility.


    

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