Standard Motor Products, Inc. Announces the Acquisition of Selected Assets of Sagem, Inc.

    NEW YORK--March 26, 2002--Standard Motor Products, Inc. automotive replacement parts manufacturer and distributor announces that it will purchase, for approximately $11.5 Million, selected assets of Sagem, Inc., a unit of Johnson Contols, Inc..
    Sagem located in Greenville, South Carolina is a basic manufacturer of fuel injectors and related parts, for both the aftermarket and original equipment customers. The transaction is expected to close by mid-May.
    Lawrence I. Sills, Chairman of SMP stated, "We are extremely pleased to announce this acquisition. We have had a close working relationship with Sagem for several years, and thus we are quite familiar with Sagem as a first class operation.
    We are now fully basic in a growing segment of the Engine Management business."
    This news release contains certain forward-looking statements that involve risks and uncertainties. Actual results, events and performance could differ materially from those contemplated by these forward-looking statements. Among the factors that could cause actual results, events and performance to differ materially are risks and uncertainties discussed in this release and those detailed from time-to-time in prior public statements and the Company's filings with the Securities and Exchange Commission, including the Company's annual report on Form 10-K and the Company's quarterly reports on Form 10-Q.