Accuride Corporation Reports Results for 2001

EVANSVILLE, Ind.--Feb. 28, 2002--Accuride Corporation today announced net sales of $71.4 million for the fourth quarter ended December 31, 2001.

This compares to net sales of $91.1 million for the fourth quarter of 2000, a decrease of 21.6%. For the twelve months ended December 31, 2001, net sales were $332.1 million compared to net sales of $475.8 million for the same twelve-month period in 2000, a decrease of 30.2%. The decrease is largely due to the continuation of the cyclical downturn of the heavy/medium commercial vehicle market, with builds down more than 26% from the prior year's fourth quarter and down more than 37% from the prior year.

Adjusted EBITDA of $8.7 million for the fourth quarter ended December 31, 2001, is up from $8.4 million for the fourth quarter of 2000. The resulting EBITDA margin has increased to 12.2% of net sales from 9.3% of net sales in last year's fourth quarter. For the twelve months of 2001, adjusted EBITDA decreased by $48.4 million, or 54.1%, to reach $41.0 million. This compares to $89.3 million for the twelve months of 2000.

The Company's liquidity position remained strong at December 31, 2001, with $47.7 million in cash and revolver availability of $37.5 million.

``The results for the fourth quarter continue to be impacted by the current downturn in the heavy/medium truck market. However, our margins continue to improve and our liquidity is strong,'' said Bill Greubel, Accuride's President and CEO. ``Despite a 22% decrease in revenue, our margins have increased by 290 basis points as we continue to aggressively work on cost and productivity programs throughout the Company. Our actions have positioned the Company for improved earnings upon the eventual industry rebound.''

Accuride Corporation is North America's largest manufacturer and supplier of wheels for heavy/medium trucks and trailers. The Company offers the broadest product line in the North American heavy/medium wheel industry and is the only North American manufacturer and supplier of both steel and forged aluminum heavy/medium wheels. Accuride Corporation also produces wheels for buses, commercial light trucks and sport utility vehicles, and for passenger cars. Accuride Corporation has steel wheel operations in Henderson, Kentucky; Columbia, Tennessee; London, Ontario, Canada; and in Monterrey, Mexico. Accuride has aluminum wheel operations in Erie, Pennsylvania, and Cuyahoga Falls, Ohio. Additionally, the Company produces tire molds at its Erie, Pennsylvania, facility. Accuride is also involved in a commercial tire and wheel assembly joint venture in Springfield, Ohio, and Talbotville, Ontario, Canada. For more information, visit Accuride's website at http://www.accuridecorp.com.