DURA Automotive Systems, Inc. Announces Agreement to Sell Atwood Mobile Products

ROCHESTER HILLS, Mich.--DURA Automotive Systems, Inc. (OTC:DRRAQ) today announced that it has entered into an asset purchase agreement with Atwood Acquisition Co., LLC for the sale of DURA’s Atwood Mobile Products division, headquartered in Elkhart, Indiana. The agreement provides for the acquisition of Atwood Mobile Products for an aggregate cash consideration of $160.2 million. Closing of the transaction is subject to the approval of the United States Bankruptcy Court for the District of Delaware, which has jurisdiction over DURA’s Chapter 11 reorganization proceedings; government regulatory approvals; and customary closing conditions. Dura was advised by Miller Buckfire and Kirkland & Ellis in connection with the transaction.

As a standard element of the bankruptcy process, DURA has filed a motion with the Bankruptcy Court seeking approval of procedures that will provide an opportunity for competitive bids on Atwood Mobile Products before the sale is approved by the Court. DURA expects to complete the bidding process and to secure the regulatory approvals in time to close the sale by the end of August.

“Atwood is a strong, profitable and growing business, and we are extremely satisfied with the interest we have received in the business,” said Larry Denton, DURA’s chairman and chief executive officer. “This agreement is a major milestone in our restructuring efforts as it enables the company to position itself to exit Chapter 11 and finish implementing financial and operational strategies to improve our core automotive parts business.”

Atwood offers a broad range of products to the recreation vehicle (RV), specialty vehicle and manufactured housing markets. The division’s products encompass windows and doors, specialty glass, hardware appliances and electronics. Founded in 1909, Atwood was acquired by automotive supplier Excel Industries, which was then acquired by DURA in 1999.

On October 30, 2006, DURA Automotive Systems, Inc., and its domestic and Canadian affiliates filed voluntary petitions for protection under Chapter 11 of the Bankruptcy Code in the United States Bankruptcy Court for the District of Delaware. The company and its domestic and Canadian affiliates continue to operate their businesses as Chapter 11 debtors-in-possession.

About Miller Buckfire

Miller Buckfire is a leading independent investment bank providing strategic and financial advisory services focusing on complex restructuring transactions, mergers and acquisitions, and equity and debt financing. The firm was formed in July 2002 when the financial restructuring group at Dresdner Kleinwort Wasserstein spun off as an independent entity. Miller Buckfire’s professionals have successfully restructured more than $180 billion in debt, advised on M&A transactions valued at over $100 billion and advised on financings involving over $35 billion. The firm is based in New York. Additional information about Miller Buckfire can be found at www.millerbuckfire.com.

About Atwood Mobile Products, Inc.

Atwood is a leading designer and manufacturer of a broad range of window, glass, aluminum, appliance and electronic products for recreation vehicles (RVs), specialty vehicles, manufactured housing and associated niche markets. Atwood’s core products include windows, doors, specialty glass products, water heaters, furnaces, ranges, electronic control systems, converters and seating systems designed to meet specific customer demands. Atwood provides its comprehensive product line to a diverse set of customers including market leaders Thor Industries, Fleetwood, Jayco, Gulfstream, Winnebago, Freightliner and Leer. Recognized as a leading supplier to the RV, specialty vehicle and manufactured housing industries, Atwood markets its products under its well-recognized Atwood, Creation, Kemberly, Wedgewood, Spec-Temp, Duraleg and Levelegs brands. Headquartered in Elkhart, Indiana, Atwood has approximately 1,900 employees.

About DURA Automotive Systems, Inc.

DURA Automotive Systems, Inc., is a leading independent designer and manufacturer of driver control systems, seating control systems, glass systems, engineered assemblies, structural door modules and exterior trim systems for the global automotive industry. The company is also a leading supplier of similar products to the recreation vehicle (RV) and specialty vehicle industries. DURA markets its automotive products to every North American, Asian and European original equipment manufacturer (OEM) and many leading Tier 1 automotive suppliers. DURA is headquartered in Rochester Hills, Mich. Information about DURA and its products is available on the Internet at www.duraauto.com.