Lear Corporation Exceeds Diversity Purchasing Goal; Raises 2003 Commitment to $475 Million

SOUTHFIELD, Mich., March 13 -- Lear Corporation today announced purchases of products and services from diversity suppliers totaling $406 million, setting a new record for Lear and surpassing the company's 2002 target of $375 million by 8%.

For 2003, Lear is raising its target by $100 million, setting its goal for diversity purchases at the $475 million level. Lear has 189 authorized diversity suppliers from whom it purchases goods and services to support vehicle programs at General Motors, Ford, DaimlerChrysler, Toyota and various other automakers.

"Lear's commitment to supplier diversity is a long-term agreement aimed at strengthening the economies of the communities where we do business," said Bob Rossiter, Lear Chairman and Chief Executive Officer. "We intend to continue to raise the bar on diversity purchases each year and are well on our way toward achieving annual purchases of $600 million by 2005."

In addition to a corporate supplier program, Lear continues to support and sponsor numerous multicultural initiatives through partnerships with United Way Community Services, Focus: HOPE, Detroit Renaissance High School, New Detroit, Inc., the Michigan Minority Business Development Council and other community activities.

Lear Corporation, a Fortune 500 company headquartered in Southfield, Mich., USA, focuses on integrating complete automotive interiors, including seat systems, interior trim and electrical systems. With annual net sales of $14.4 billion in 2002, Lear is the world's largest automotive interior systems supplier. The company's world-class products are designed, engineered and manufactured by 115,000 employees in more than 280 facilities located in 33 countries. Additional information about Lear and its products is available on the Internet at www.lear.com .

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