Tower Automotive Announces Dividend on Trust Convertible Preferred Securities

    GRAND RAPIDS, Mich.--Dec. 2, 2002--Tower Automotive, Inc. , announced today that a dividend of $0.84 per share will be paid on the 6 3/4% trust convertible preferred securities issued by the Tower Automotive Capital Trust. The dividend will be payable on December 31, 2002, to stockholders of record on December 15, 2002. The dividend will be paid on 5,175,000 shares outstanding.

    Tower Automotive, Inc., is a global designer and producer of 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.