Modine Board Announces Dividend

    RACINE, Wis.--Jan. 15, 2003--Modine Manufacturing Company Board of Directors declared a quarterly dividend of 12.5 cents per share on outstanding common stock, payable March 6, 2003 to all shareholders of record February 21, 2003.

    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.