Tenneco Automotive Extends Its U.S. Securitization Program

         Attractive Source of Liquidity Extended Through January 2005

    LAKE FOREST, Ill., Jan. 28 -- Tenneco Automotive
announced today that it has reached agreement to extend its
accounts receivables securitization program in the United States.  The new
$50 million program will be for two years and will expire January 31, 2005.
Other key terms of the program disclosed previously in the company's quarterly
SEC reports remain unchanged.
    The U.S. receivable securitization program supplements other receivables
sales programs currently in place at the company's European subsidiaries,
which provide about $40 million to $55 million of funding.  Under the terms of
its senior credit facility, Tenneco Automotive can sell up to $150 million of
receivables outstanding at any one time.
    The company also has arrangements currently in place with two major OE
customers in North America under which payments to Tenneco Automotive are made
earlier than otherwise required under existing payment terms.  These
accelerated payment programs provide enhanced liquidity for the company above
and beyond the U.S. securitization program and its $450 million senior
revolving credit facility.  Currently these programs have grown to about
$50 million since they began in 2001.
    "Given the difficult conditions in the capital markets, particularly for
companies in the automotive industry, we are very pleased to extend this
highly attractive source of capital for another two years rather than the one
year renewal normal for this type of financial structure," said Mark Frissora,
chairman and CEO, Tenneco Automotive.  "Our ability to continue to access the
capital markets reflects the success we achieved over the last two years in
reducing costs and generating positive cash flow under very challenging
industry conditions."
    Subject to customary conditions, the company expects the U.S. receivable
securitization program to become effective on January 31, 2003.
    Tenneco Automotive is a $3.4 billion manufacturing company with
headquarters in Lake Forest, Illinois and approximately 21,000 employees
worldwide.  Tenneco Automotive is one of the world's largest producers and
marketers of ride control and exhaust systems and products, which are sold
under the Monroe(R) and Walker(R) global brand names.  Among its products are
Sensa-Trac(R) and Monroe(R) Reflex(TM) shocks and struts, Rancho(R) shock
absorbers, Walker(R) Quiet-Flow(TM) mufflers and DynoMax(R) performance
exhaust products, and Monroe(R) Clevite(TM) vibration control components.