Delco Remy Financial Execs Reassigned

ANDERSON, Ind., Nov. 9 -- At the end of the business day on Friday, Delco Remy International, Inc.,announced the reassignments of two key financial executives. Effective immediately, J. Timothy Gargaro will transfer from his CFO position to Senior Vice President for Business Development and David E. Stoll, current Vice President, Treasurer and Corporate Secretary, will become acting CFO.

Gargaro will direct the diverse financial issues associated with Delco Remy's future growth and acquisition strategies. According to Delco Remy President and CEO, Thomas J. Snyder, "As our company continues to expand internationally, we need to ensure that subsidiary business integration and shared support services are optimized and maintain performance levels equal to or better than our competitors."

Stoll will assume his new duties after having served in several, key, senior executive, financial positions since Delco Remy America was spun off from General Motors Corporation in 1994. In his new assignment, he will assume full corporate financial responsibilities on an interim basis.

Gargaro holds an MBA from Eli Broad School of Business at Michigan State University with an undergraduate degree in accounting and economics from the University of Detroit. He is a Certified Public Accountant, a member of the AICPA's and the Financial Executives Institute. He also serves on the Board of Directors for Ballet Internationale - Indianapolis.

Stoll graduated from Kent State University with a Bachelor of Business Administration and earned his MBA in 1968, also from Kent State. He is a Certified Public Accountant and a member of the American Institute of CPAs. He also serves on the Board of Directors for the Anderson Symphony, American Red Cross of Madison County and is District Chairman for the Sakima District of the Boy Scouts of America.

Delco Remy International, Inc., a leading worldwide manufacturer and remanufacturer of automotive, powertrain, drivetrain and electrical products, is head-quartered in Anderson, Indiana, USA. Additional information about the company is available at: http://www.delcoremy.com