DURA Automotive Appoints Larry Denton as President & CEO

    ROCHESTER HILLS, Mich.--Jan. 8, 2003--DURA Automotive Systems, Inc. today announced the appointment of Larry Denton, 52, to the position of president and chief executive officer, effective January 15. As of that date, he will also be nominated to the company's board of directors. In his new capacity at DURA, Denton will be responsible for the day-to-day operations of the company, as well as the design and implementation of its long-term strategy. Karl Storrie, who has served as the company's president and CEO since 1990, will remain with DURA as vice chairman and a member of the company's board of directors.
    "I am eager to work with the team at DURA to grow the company by developing and offering innovative products and solutions to the automotive industry," said Denton. "We have a solid foundation with strong market positions in many of our business segments. This offers us the opportunity to create powerful solutions based on combinations of our products and services."
    Commented Storrie: "One of the most important elements of being a CEO is to ensure that a proper succession takes place. I am very pleased we were able to attract a person of Larry's caliber to DURA. I am confident that his enthusiasm and desire, combined with his breadth of business skills, will be the right mix to lead DURA well into the future."
    Denton joins DURA from Dow Automotive, where he served as president. Under his leadership, Dow Automotive has become one of the top 100 global suppliers to the automotive industry, growing from $300 million to more than $1 billion in revenue in six years. Prior to joining Dow in 1996, Denton spent 24 years with Ford Motor Company, where he held a variety of senior management positions with increasing responsibility in manufacturing, quality, sales and marketing, engineering and purchasing.
    Denton earned a bachelor's degree from Michigan State University in East Lansing, Mich., a master's degree in business from the University of Michigan in Ann Arbor, Mich., and was a Sloan Fellow at Massachusetts Institute of Technology in Cambridge, Mass.

    DURA Automotive Systems, Inc., is the world's largest independent designer and manufacturer of driver control systems and a leading global supplier of seating control systems, engineered assemblies, structural door modules and integrated glass systems for the global automotive industry. The company is also a leading supplier of similar products to the North American recreational vehicle and mass transit market. DURA sells its automotive products to every North American, Japanese and European original equipment manufacturer (OEM) and many leading Tier 1 automotive suppliers. DURA's operating headquarters is in Rochester Hills, Mich., and its corporate offices are in Minneapolis, Minn. Information about DURA and its products are available on the Internet at www.duraauto.com.