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Dana Files $600 Million Shelf Registration

15 December 1997

Dana Files $600 Million Shelf Registration

    TOLEDO, Ohio, Dec. 15 -- Dana Corporation today
filed a "Universal Shelf" registration statement with the U.S. Securities and
Exchange Commission to register common stock and/or debt securities of the
company having a maximum aggregate offering price of $600 million.
    After the registration statement becomes effective, Dana plans to offer
the registered securities from time to time at prices and on terms to be
determined at the time of offering.  Dana may sell the securities directly or
through agents, underwriters, or dealers.
    The company expects to use the net proceeds from the sale of the
securities for general corporate purposes, including the repayment or
refinancing of existing indebtedness.  The company does not intend to issue
equity in the immediate future.
    Dana Corporation is a global leader in the engineering, manufacture, and
distribution of products and systems for the automotive, heavy truck, off-
highway, engine, and industrial markets.  It also operates a leasing services
business, Dana Credit Corporation.  Founded in 1904 and based in Toledo, Ohio,
Dana operates facilities in 30 countries and employs more than 48,000 people.
The Internet address for Dana's home page is http://www.dana.com.

SOURCE  Dana Corporation