Dana To Sell Power Take-Off Business

    TOLEDO, Ohio, May 16 Dana Corporation today
announced that it has reached an agreement to sell its Chelsea Products
Division to Parker Hannifin Corporation .
    
    Terms of the agreement were not disclosed.  The transaction is subject to
regulatory approval.

    Chelsea, which manufactures auxiliary power equipment in the United States
and England, employs approximately 140 people at three facilities and had
sales of $67 million in 2000.

    Dana Chairman and CEO Joe Magliochetti said, "The decision to sell an
established brand name and product line is never easy.  However, this action
is consistent with Dana's long-term strategy for growth by focusing resources
on those technologies and operations that support its foundation businesses."

    With annual sales of $6 billion, Parker Hannifin is the world's leading
diversified manufacturer of motion and control technologies and systems,
providing precision-engineered solutions for a wide variety of commercial,
mobile, industrial and aerospace applications.  The company employs more than
45,000 people in 46 countries around the world.  The company's Internet
address is http://www.parker.com.