Dura Automotive Raises First-Quarter and Full-Year Earnings Guidance

    ROCHESTER HILLS, Mich.--March 26, 2002--DURA Automotive Systems, Inc. , announced today that it expects first-quarter and full-year 2002 results to exceed the current First Call consensus estimates due to an increase in North American automotive production volumes and the benefits of recent cost reduction initiatives.
    DURA expects first-quarter 2002 earnings to be in the range of $0.58 to $0.62 per diluted share, on estimated first-quarter revenues of approximately $605 million to $615 million. This compares to the current First Call consensus estimate of $0.42 per share.
    For the full year 2002, DURA expects earnings to be in the range of $2.30 to $2.40 per diluted share, on estimated sales of $2.25 billion to $2.35 billion. This compares to the current First Call consensus estimate of $2.19 per share.
    DURA Automotive Systems, Inc., is the world's largest independent designer and manufacturer of driver control systems and a leading global supplier of door modules, seat mechanisms and structures, glass systems and engineered assemblies for the global automotive industry. The company is also a leading supplier of similar products to the North American recreational vehicle and mass transit market. DURA supplies every North American, European and Japanese original equipment manufacturer. DURA's operating headquarters is in Rochester Hills, Mich., and its corporate office is in Minneapolis, Minn. Information about DURA and its products is available on the Internet at www.DURAauto.com.

    This press release contains forward-looking statements that are subject to risks and uncertainties. These statements often include words such as "believe," "expect," "anticipate," "intend," "plan," "estimate," or similar expressions. These statements are based on certain assumptions that the company has made in light of its experience in the industry as well as its perspective of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances. Actual results may differ materially from the anticipated results because of certain risks and uncertainties, including but not limited to (i) expected synergies, economies of scale and cost savings from the company's acquisitions not being fully realized or realized within the expected times frames; (ii) unanticipated difficulties servicing the indebtedness of the company, (iii) costs or operational difficulties related to integrating the operations of the acquired entities with those of the company being greater than expected; (iv) labor disputes involving the company or its significant customers, (v) risks associated with conducting business in foreign countries, and (vi) general economic or business conditions affecting the automotive industry, either nationally or regionally, being less favorable than expected.