Dana Agrees to Sell Industrial Polymer Bearings Businesses to Goodrich

    TOLEDO, Ohio, May 24 Dana Corporation
announced today that it has signed an agreement to sell its industrial polymer
bearings businesses to The BFGoodrich Company .
    
    The transaction will include the sale of:

    * industrial polymer bearings manufacturing operations in Kilmarnock,
      Scotland; Annecy, France; and Dolny Kubin, Slovakia;
    * the Glacier Industrial Bearings Division, including its manufacturing
      operations in Heilbronn, Germany; and Sao Paulo, Brazil;
    * a bushing block manufacturing facility in Dieuze, France;
    * Dana's interest in Garlock Bearings LLC; and
    * certain research and development assets relating to industrial polymer
      bearings products located in Cawston, England.

    Pro forma sales for these operations were approximately $100 million in
2000.

    The sale will not include Dana's engine bearing business or its related
research and development assets.

    Terms of the agreement were not disclosed.  The transaction is subject to
regulatory approvals, compliance with applicable workers' consultation
procedures, and customary closing conditions.  Closing is anticipated by the
end of the third quarter of 2001.

    Dana Chairman and CEO Joe Magliochetti said, "The decision to sell a
recognized and respected product line is never easy.  But in the longer term,
the decision to divest the industrial polymer bearings business is consistent
with Dana's long-term strategy of growth through innovation in the global
vehicular market.  We believe that this business, and its people, are better
served as part of a company that is dedicated to the industrial marketplace."