Tower Automotive Announces Three Executive Appointments

    GRAND RAPIDS, Mich.--Nov. 1, 2002--Tower Automotive, Inc. , today announced the addition of two new officers and the promotion of Tower Automotive's current CFO to a new officer role with responsibility for developing the company's international opportunities, a major area of future growth for the company.
    Tower Automotive announced that Tony Barone, 53, would spearhead the company's international expansion while retaining his responsibility for information technology and corporate governance oversight, including the internal audit function. Barone has been the company's CFO since 1995 and has played a pivotal role in analyzing and executing the company's strategic direction in new and existing markets.
    "The growth opportunities for our company have never been greater," said president and chief executive officer Dug Campbell. "and we have been developing a transition plan that would allow Tony to take on a broader role and assume responsibility for identifying and evaluating global strategies that will lead the company into new regions of the world in support of many faster growing OEMs. I'm very excited to see Tony move into an area where his talents and leadership will make an even bigger difference to the success of our company going forward."
    Tower Automotive also announced the appointment of Ernest Thomas, 48, as chief financial officer. Thomas will lead the company's finance, accounting and administration functions. Prior to joining Tower, Thomas was CFO of Modine Manufacturing Co. , a $1.1 billion manufacturer of heat-transfer components and systems. Thomas also spent eight years with Eaton Corp., in operating roles and 11 years with General Motors in controller and financial analytical positions.
    Additionally, the company announced the appointment of Vincent Pairet to lead the Asia region, consisting of Japan, Korea and China. Pairet, 39, comes to the company from INERGY Automotive Systems, a joint venture between SOLVAY and Plastic-Omnium where he was president of Asia.
    "I'm pleased that Vincent and Ernie have accepted our invitation to join Tower Automotive," said Campbell. "Ernie brings a balance sheet focus from an operations perspective and with Vincent's knowledge of the Asian-based OEMs, we can better connect their global product plans to the other Tower geographical regions."
    Tower Automotive, Inc., is a global designer and producer of vehicle structural components and assemblies used by every major automotive original equipment manufacturer, including Ford, DaimlerChrysler, GM, Honda, Toyota, Nissan, Fiat, Hyundai/Kia, BMW and Volkswagen Group. Products include body structures and assemblies, lower vehicle frames and structures, chassis modules and systems, and suspension components. The company is based in Grand Rapids, Mich. Additional company information is available at www.towerautomotive.com.