Sypris Solutions Awarded Contracts With Visteon

    LOUISVILLE, Ky.--Feb. 19, 2002--Sypris Solutions, Inc. today announced that its subsidiary, Sypris Technologies, Inc. ("Sypris Technologies"), has been awarded contracts valued at approximately $100 million to supply Visteon Corporation ("Visteon") with light axles. The value of these contracts is based on current volumes over the terms of the contracts, which run through 2006.
    The contracts announced today are comprised of two elements. The first element is a contract beginning in February 2002 to supply front axles for the Ford F-150 pickup truck, Ford Expedition and Lincoln Navigator. The second element is a contract beginning in January 2004 to supply light axles for the Ford F-250, F-350 and Ranger series of pickup trucks and the Ford Mustang GT.
    Commenting on the announcement, Jeffrey T. Gill, president and chief executive officer of Sypris Solutions, said, "We are very pleased to enter into this long-term strategic partnership with Visteon. We intend to support Visteon with investments in technology and state-of-the-art manufacturing processes to help ensure that the cost, quality and reliability of these components remain competitive on a global scale for many years to come."
    Sypris Solutions is a diversified provider of technology-based outsourced services and specialty products. The Company performs a wide range of manufacturing and technical services, typically under multi-year, sole-source contracts with major corporations and government agencies in the markets for aerospace and defense electronics, truck components and assemblies, and for users of test and measurement equipment. For more information about Sypris Solutions, visit its Web site at http://www.sypris.com.
    Visteon Corporation is a leading full-service supplier that delivers consumer-driven technology solutions to automotive manufacturers worldwide and through multiple channels within the global automotive aftermarket. Visteon has about 80,000 employees and a global delivery system of more than 130 technical, manufacturing, sales and service facilities located in 25 countries.
    This press release may contain projections and other forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934. These projections and statements reflect the Company's current views with respect to future events and financial performance. No assurance can be given, however, that these events will occur or that these projections will be achieved and actual results could differ materially from those projected as a result of certain factors. A discussion of these factors is included in the Company's periodic reports filed with the Securities and Exchange Commission.