Delco Remy International, Inc. and Court Square Capital Limited Announce Termination Date of Tender Offer

    ANDERSON, Ind., Feb. 14 Delco Remy International, Inc.
(the "Company") and Court Square Capital Limited ("Court Square"),
a subsidiary of Citigroup Inc., announced that the revised tender offer (the
"Offer") by Court Square and its subsidiary, DRI Acquisition LLC, to acquire
all of the outstanding shares of Class A common stock of the Company not
currently owned by Court Square will terminate at midnight, New York City
time, on Friday, February 23, 2001, unless extended by Court Square.  On
February 7, 2001, the Company announced the execution of a definitive merger
agreement (the "Merger Agreement") in which, among other things, Court Square
agreed to increase the price of the Offer to $9.50 per share.
    The Company, headquartered in Anderson, Indiana (USA), became a public
company in 1997.  The Company designs, manufactures, remanufactures and
distributes electrical, powertrain/drivetrain and related components and
provides core exchange services for automobiles and light trucks, medium and
heavy-duty trucks and other heavy-duty and industrial applications.  Products
include starter motors, alternators, engines, transmissions, torque
converters, fuel systems and traction control systems.  The Company serves the
aftermarket and original equipment manufacturer market, principally in North
America, as well as in Europe, Latin America and Asia Pacific.  More
information is available on the Company web site at http://www.delcoremy.com .
    This press release may contain forward-looking statements regarding the
Offer or the transactions contemplated by the Merger Agreement.  These
statements are identified by words such as "will," "may," "intends," and other
words referring to events to occur in the future.  The statements are based on
information currently available to the Company and are subject to a variety of
risks and uncertainties.  Actual events, actions and effects of the Offer and
the other contemplated transactions may depend on one or more of these risks
and uncertainties and may vary materially from any future events, actions and
effects described in this press release.  The Company undertakes no obligation
to update any forward-looking statements made in this press release.