TRW Comments On Second Quarter Results in Light of Recall Action

    CLEVELAND--July 13, 2001--TRW Inc. today announced that the company plans to record an undisclosed charge in the second quarter 2001 relating to the estimated cost of a product recall. Including this charge to earnings from operations, TRW's second quarter earnings per share, excluding unusual items, will be $0.65 per share -- slightly above the current consensus estimate of $0.64.
    Ford Motor Company will commence a voluntary recall of 1.4 million model-year 2001 cars and trucks to inspect the driver-side and front outboard passenger-side seat belt buckles. Testing has revealed that an estimated 5 percent or less of these seat belt buckles may not latch properly if insufficient force is applied when inserting the tongue into the buckle. When the tongue is inserted with normal speed and force, all of the buckles perform as intended.
    TRW will announce its second quarter earnings on Thursday, July 19, 2001. Investors and the general public are invited to listen to an Internet Webcast of the company's quarterly conference call, beginning at 11:00 a.m., EDT on July 19, 2001. This Webcast can be accessed through www.trw.com.

    TRW provides advanced-technology products and services for the aerospace, information systems, and automotive markets. The company, which is celebrating its 100th year of operation during 2001, had year-end 2000 sales of $17.2 billion. Company news releases can be found at www.trw.com.