Modine's Cooling Module to be Featured On the New BMW Z4 Roadster This Fall

    RACINE, Wis.--Nov. 5, 2002--Modine Manufacturing Company announced today that it has been awarded new engine cooling business on the new 2003 BMW Z4 roadster.
    Modine has a very strong partnership with BMW that extends nearly 25 years. Modine has been working on the development of the Z4 with BMW since February of 2000. This development period along with its expertise in heat-transfer technology and the experience that Modine has gained from producing the high-volume engine-cooling modules for the BMW 3-series vehicles will optimize the design for the new roadster.
    "Early involvement in the planning for this new vehicle gives us the opportunity to suggest new, innovative ideas and new technologies for the cooling system that will enhance the performance of the engine and the vehicle," stated Klaus Feldmann, Group Vice President and Managing Director of Modine Europe. "We have been very successful with past BMW programs, and we are committed to supporting the new roadster along with other future programs."
    The just-in-time (JIT) shipments to BMW's Spartanburg, South Carolina facility began in September for the 2003 vehicle. The new module will include a number of products from several Modine facilities in Europe, including radiators, condensers, and oil coolers. Final assembly of the engine-cooling module will occur at Modine's Wackersdorf (Germany) facility. Modine will not only assemble the heat-transfer components, but will also handle the purchasing and logistical responsibility of other parts on the module - such as the suction fan, expansion tanks and miscellaneous parts.
    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. Modine can be found on the Internet at www.modine.com.

    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.