Modine to Supply Chrysler Group With Cooling Modules for 2003 Light Trucks

    RACINE, Wis.--Aug. 1, 2002--Modine Manufacturing Company announced today that it will begin production of front-end cooling modules for 2003 model year Chrysler Group sport-utility vehicles.
    "Modine has a long supply-partner relationship with the Chrysler Group in thermal management components," stated Lyman Tschanz, general manager of the automotive division. "This latest program provides the Chrysler Group with an innovative assembly of components, and builds upon Modine's strong reputation as a leading cooling module supplier. We are committed to supporting the continued success of Chrysler Group vehicles."
    For the upcoming business with the Chrysler Group, Modine will ship front-end engine-cooling modules that will feature various components produced at its Clinton, Tennessee; Harrodsburg, Kentucky; McHenry, Illinois; and Richland, South Carolina facilities. Modine will manage all the purchased parts and heat transfer components in the engine-cooling module. Modine currently supplies similar engine-cooling modules for other Chrysler Group programs such as the Jeep(R) Liberty and the Dodge Ram, and also to BMW for their 3-series automobiles.

    Modine specializes in thermal management, bringing heating and cooling technology to diversified markets. Modine's products are used in light, medium, and heavy-duty vehicles, HVAC equipment, industrial equipment, refrigeration systems, fuel cells and electronics.

    This news release contains forward-looking statements that involve assumptions, risks, and uncertainties, and Modine's actual results, performance, or achievements may differ materially from those expressed or implied in these statements. A detailed discussion of factors that could affect Modine's results are on page 14 of the company's fiscal 2002 Annual Report to Shareholders and in other public filings with the U.S. Securities and Exchange Commission. Modine does not assume any obligation to update any of these forward-looking statements.