Modine Partnership With DaimlerChrysler Results Engine-Cooling Module

    RACINE, Wis.--March 22, 2001--Modine Manufacturing Company is beginning to supply an engine-cooling module for DaimlerChrysler on the all-new Jeep(R) Liberty, which was introduced in January.
    "The business was awarded to Modine as a result of our strong relationship as a development partner over the years with DaimlerChrysler," said Lyman Tschanz, general manager of Modine's Automotive Division. "Modine is very pleased to expand its partnership with DaimlerChrysler. This program will be a very exciting one for Modine. We will receive an electronic order for an engine-cooling module at our new Toledo assembly facility every seventy seconds and, five hours later, the module will be installed on a Jeep Liberty."
    The new Modine facility in Toledo is located approximately five miles north of DaimlerChrysler's new Toledo North Assembly Plant and will utilize the latest technology available to assemble components into finished modules for just-in-sequence (JIS) shipment to DaimlerChrysler.
    The module includes a number of products from Modine plants in North America and Europe. They include: aluminum radiators from Clinton, Tenn.; PF(R) (parallel-flow) condensers from McHenry, Ill.; and charge-air coolers for diesel-engine applications, produced in Pontevico, Italy. Modine will not only assemble the heat-transfer components but will also handle the purchasing and logistical responsibility of other parts on the module - such as fans, shrouds, seals, and connections.
    Modine was awarded the business in part because of its experience with high-volume engine-cooling modules in a similar program in Europe. Michael Busing, the plant manager at Modine's new Toledo facility, was very instrumental in the success of the European program. "We learned from our experience in Europe in terms of design, manufacturing, and logistics," stated Büsing, "and we will build upon this experience to provide excellent products and services for the Jeep Liberty program."

    Forward-looking statements about sales and operations in this news release involve both risks and uncertainties, as detailed on page 17 of Modine's Annual Report for fiscal 2000.

    Modine specializes in thermal management, bringing technology to diversified markets. Core markets include powertrain cooling of internal combustion engines, vehicular and building HVAC (heating, ventilating, air-conditioning), and various industrial and refrigeration markets. Modine can be found on the Internet at www.modine.com.