Harman International Industries, Inc. Estimates Results for the Second Fiscal Half

    WASHINGTON--March 29, 2001--Harman International Industries, Inc. forecast today that its sales for the quarter ending March 31, 2001 will be approximately 5 percent below expectations, due primarily to the slowdown in the U.S. economy.
    For the quarter, sales are expected to be approximately $435 million. Earnings from operations should be in the range of $0.15 to $0.25 per share before a restructuring charge of $0.30-$0.40 per share.
    Despite expectations that the current economic softness in the United States will continue, the Company expects a relatively strong fourth quarter. Sales for that quarter are estimated at $450 to $475 million and earnings are estimated at $0.55 to $0.65 a share.
    Dr. Sidney Harman, Executive Chairman and Bernard Girod, Vice-Chairman-CEO commented: "Current and projected results reflect the softness in the U.S. market. The Company's fundamental businesses are very healthy and opportunities for growth remain very attractive. We believe that Fiscal 2002 will display record sales and earnings."
    Actual results for the third quarter will be discussed in a conference call scheduled for Wednesday April 25, 2001.
    Harman International Industries, Incorporated (www.harman.com) is a leading manufacturer of high-quality, high-fidelity audio products for the consumer and professional markets. The Company's stock is traded on the New York Stock Exchange under the symbol: HAR.

Note: Except for historical information contained herein, the matters
    discussed are forward-looking statements which involve risks and
    uncertainties that could cause actual results to differ materially
    from those suggested in the forward-looking statements, including
    but not limited to the effect of economic conditions, product
    demand, currency exchange rates, labor disputes, availability of
    key components, competitive products and other risks detailed in
    the Company's Securities and Exchange Commission filings.