Gentex Reports Financial Results for the Second Quarter of 2001

    ZEELAND, Mich., July 17 Gentex Corporation ,
the Zeeland, Michigan-based manufacturer of automatic-dimming rearview mirrors
and commercial fire protection products, today reported financial results for
the second quarter and six months ended June 30, 2001.

    For the second quarter of 2001, the Company reported net income of $16.2
million, or 21 cents per share, on record second quarter revenues of $77.1
million.  In the comparable 2000 quarter, the Company reported net income of
$18.4 million, or 24 cents per share, on revenues of $76.8 million.

    For the first six months of 2001, net income was $33.4 million, or 44
cents per share, on record revenues of $156.5 million.  For the comparable
2000 period, Gentex reported net income of $36.9 million, or 49 cents per
share, on revenues of $150.6 million.

    "We had a tough second quarter, but we are seeing early signs of
improvement for the second half of calendar 2001," said Gentex Executive Vice
President Kenneth La Grand.  "We expect to have unit shipment growth of
approximately 15 percent during the second half of the year, based on the
current J.D. Power forecast for light vehicle production for calendar 2001.

    "Based on all of the new business we have booked, including mirrors for
mid-size vehicles such as the Toyota Camry, we believe that beyond calendar
2001 we will move closer to our historic growth rate of 20+ percent.  Over the
next several months, we will announce the commencement of mirror shipments for
a number of new vehicles, including at least two more mid-size models."

    La Grand said that the Company's net income continues to be impacted by
increased investment in research and development and selling expenses.

    "We continue to pay a short-term earnings penalty due to the significant
investments we are making in research and development for programs that will
produce potentially significant revenues two to three years from now.

However, we manage for the long term at Gentex, and will continue to invest in
research and development in areas where we see significant growth prospects,"
said La Grand.

    He said that the increased selling expenses are primarily due to building
the necessary customer support infrastructure at the Company's sales and
engineering offices in Europe and Japan.  La Grand said that the Company has
significant new business opportunities in those overseas markets and that
Gentex is making the investments to ensure that it can support a higher level
of new business.

    Total Night Vision Safety(TM)(NVS(R)) Mirror shipments in the second
quarter of 2001 were nearly 1.8 million, an approximate three percent increase
over the approximately 1.7 million units reported in the same 2000 quarter.
For the first six months of 2001, total unit shipments reached a record 3.6
million, a five percent increase over the first six months of 2000.

    The Company's Fire Protection Products Group reported a decrease in
revenues of about one percent for the second quarter and an increase of one
percent for the first six months of 2001, compared with the same periods last
year.

  

                     GENTEX CORPORATION AND SUBSIDIARIES
                 CONDENSED CONSOLIDATED STATEMENTS OF INCOME

                                            (unaudited)
                         Three Months Ended            Six Months Ended
                              June 30,                      June 30,
                         2001          2000           2001           2000

    Net Sales         $77,074,568   $76,755,923   $156,471,374   $150,632,461

    Costs and Expenses
      Cost of Goods
       Sold            46,710,921    44,635,685     94,382,078     86,005,307
      Research &
       Development      5,325,034     4,256,066     10,225,844      8,129,999
      Selling, General &
       Administrative   4,780,327     4,501,495      9,704,414      8,640,635
      Other Expense
       (Income)        (3,736,538)   (3,879,509)    (7,395,746)    (6,834,700)

    Total Costs and
     Expenses          53,079,744    49,513,737    106,916,590     95,941,241

    Income Before Provision
     for Income
     Taxes             23,994,824    27,242,186     49,554,784     54,691,220

    Provision for
     Income Taxes       7,799,000     8,882,000     16,106,000     17,781,000

    Net Income        $16,195,824   $18,360,186    $33,448,784    $36,910,220


    Earnings Per Share
      Basic                 $0.22         $0.25          $0.45          $0.50
      Diluted               $0.21         $0.24          $0.44          $0.49
    Weighted Average Shares:
      Basic            74,677,817    73,897,916     74,521,573     73,715,860
      Diluted          75,865,525    75,688,794     75,701,341     75,653,305

                    CONDENSED CONSOLIDATED BALANCE SHEETS

                                                (unaudited)
                                                  June 30,         Dec. 31,
                                                    2001             2000
    ASSETS
    Cash and Short-Term Investments             $168,543,458     $138,442,550
    Other Current Assets                          48,974,588       52,113,300

    Total Current Assets                         217,518,046      190,555,850

    Plant and Equipment - Net                    102,038,780       81,919,668
    Long-Term Investments and Other Assets       150,493,285      155,653,175

    Total Assets                                $470,050,111     $428,128,693


    LIABILITIES AND SHAREHOLDERS' INVESTMENT
    Current Liabilities                          $21,049,364      $19,691,252
    Long-Term Debt                                         0                0
    Deferred Income Taxes                          6,197,773        6,333,880
    Shareholders' Investment                     442,802,974      402,103,561

    Total Liabilities & Shareholders'
     Investment                                 $470,050,111     $428,128,693