Hayes Wheels Announces Share Price for Public Offering of Common Stock

22 August 1997

    ROMULUS, Mich., Aug. 22 -- Hayes Wheels International, Inc.
announced today that it has priced 3,799,502 shares of its
common stock in its public offering at $31.50 per share.
    The public offering includes 2,000,000 shares of common stock being
offered by Hayes Wheels and 1,779,502 shares being offered by certain
stockholders of Hayes Wheels.  The managing underwriter for the offering is
Merrill Lynch & Co. in the United States and Canada, and Merrill Lynch
International elsewhere.  Hayes Wheels has granted the underwriters an option
to purchase up to 566,925 additional shares of common stock to cover over-
allotments.
    The net proceeds of the shares offered by Hayes Wheels will be used to
reduce Hayes Wheels' outstanding bank indebtedness.  Hayes Wheels will not
receive any of the proceeds from the sale of shares by the stockholders.
    A prospectus relating to the offer may be obtained by written request from
Merrill Lynch & Co., North Tower, World Financial Center, 250 Vesey Street,
New York, New York 10281-1201.
    Hayes Wheels International is a world leader in the design, engineering
and manufacture of steel and aluminum wheels and brake drums and rotors for
the automotive and commercial highway markets in North America, Europe and
Asia.

SOURCE  Hayes Wheels International, Inc.