Stoneridge Reports Second-Quarter 2001 Results

    WARREN, Ohio, July 17 Stoneridge, Inc. today
announced sales of $151.9 million and earnings of $1.5 million, or $0.07 per
share, for the second quarter ended June 30, 2001.
    Net sales decreased $30.8 million, or 16.9 percent, to $151.9 million
compared with $182.8 million for the second quarter of 2000.  Net income for
the second quarter was $1.5 million, or $0.07 per share, compared with net
income of $11.6 million, or $0.52 per share, for the quarter ended June 30,
2000.
    As Stoneridge previously announced on July 2, 2001, second-quarter
earnings were expected to be lower than previously anticipated primarily as a
result of lower North American production volumes.  Other factors that
impacted the Company's earnings performance more than previously anticipated
included temporary tire shortage-related plant shutdowns at Ford Motor Company
and the delayed launch of several new product programs.  In addition, new
product development, launch costs and unfavorable foreign exchange rates
negatively affected the Company's performance.  Also in the July 2, 2001
announcement, the Company revised its outlook for fiscal 2001 earnings from an
expected range of $0.79 to $0.85 to an expected range of $0.30 to $0.40 per
share.
    "As mentioned in our previous announcement, Stoneridge is aggressively
responding to the significant downturn in revenues in all our markets," said
Cloyd J. Abruzzo, president and chief executive officer.  "We continue to
implement cost reductions and are aggressively managing working capital and
capital expenditures.  At the same time, we remain committed to those
expenditures necessary for the development and launch of new products for
awarded, future business."
    For the six months ended June 30, 2001 net sales were $308.1 million, a
decrease of 16.0 percent, compared with $367.0 million in the same period of
2000.  Net income for the six months ended June 30, 2001 was $4.6 million, or
$0.21 per share, compared with net income of $24.1 million, or $1.08 per
share, for the same period in 2000.

    Conference Call on the Web
    A live Internet broadcast of Stoneridge's conference call regarding 2001
second-quarter results can be accessed at 11:00 am Eastern Time on July 17,
2001, at http://www.stoneridge.com or http://www.vcall.com, both of which will offer a
webcast replay.

    About Stoneridge, Inc.
    Stoneridge, Inc., headquartered in Warren, Ohio, is a leading independent
designer and manufacturer of highly engineered electrical and electronic
components, modules and systems principally for the automotive, medium and
heavy-duty truck, agricultural and off-road vehicle markets.  Additional
information about Stoneridge can be found on the World Wide Web at
http://www.stoneridge.com .

    Forward-Looking Statements
    Statements in this release that are not historical fact are forward-
looking statements, which involve risks and uncertainties that could cause
actual events or results to differ materially from those expressed or implied
in this release.  Factors that may cause actual results to differ materially
from those in the forward-looking statements include, among other factors, the
loss of a major customer, a decline in automotive, medium and heavy-duty truck
or agricultural vehicle production, the failure to achieve successful
integration of any acquired company or business, labor disputes involving the
Company or its significant customers, risks associated with conducting
business in foreign countries, or a decline in general economic conditions.
Further information concerning issues that could materially affect financial
performance related to forward-looking statements contained in this release
can be found in Stoneridge's periodic filings with the Securities and Exchange
Commission.

                               Stoneridge, Inc.
                        Consolidated Operating Results
                    (In thousands, except per share data)

                          Three Months Ended              Six Months Ended
                               June 30                         June 30
                             (Unaudited)                     (Unaudited)

                        2001            2000            2001            2000

    Net Sales         $151,947        $182,768        $308,101        $366,979

    Operating Income     9,800          25,210          22,671          51,802

    Earnings Before
      Taxes              2,386          17,792           7,126          36,767

    Provision for Income
      Taxes                847           6,202           2,530          12,661

    Net Income           1,539          11,590           4,596          24,106

    Basic & Diluted
      Earnings Per Share $0.07           $0.52           $0.21           $1.08

    Diluted Weighted
      Average Shares
      Outstanding       22,479          22,397          22,479          22,397


    Condensed Balance Sheet Items
    (In thousands)

                                             June 30,            December 31,
                                               2001                  2000
                                            (Unaudited)           (Audited)

    Current Assets                           $196,594              $194,754
    Property, Plant and Equipment             114,467               113,855
    Total Assets                              693,128               696,995
    Current Liabilities                       114,305               114,685
    Non-Current Portion of Term Debt          286,441               296,079
    Total Liabilities                         430,007               434,809
    Shareholders' Equity                      263,121               262,186