Modine Awarded Two New Truck Programs With Blue Diamond Truck Company

    RACINE, Wis.--March 13, 2003--Modine Manufacturing Company announced today that it has been named the supplier for two truck programs for the Blue Diamond Truck Company. Both programs will be incremental business gains for Modine.
    "Over the last 12 years we have strengthened our relationship at International, and we have proven to be a valuable partner," stated Barney Barber, general manager of the truck division. We appreciate the opportunity to join the Blue Diamond team with both International and Ford to continue providing innovative cooling solutions for the newly-formed joint venture."
    The Blue Diamond Truck Company LLC is a joint venture that was formed in August 2001 between Ford Motor Company and Navistar International Corporation. Initially, Blue Diamond will produce Class 6 and 7 medium commercial trucks that will be marketed independently under both the Ford brand and Navistar's International brand.
    For the first program, otherwise known as the common chassis program, Modine will supply the power train cooling module. This program will produce Class 6 and 7 medium trucks. The module will consist of a radiator, charge air cooler, and a frame, along with various purchased parts. Modine will utilize four different facilities in North America to build and assemble the module.
    Modine has been selected as the vendor for a future program for the Blue Diamond Truck Company. For this program, Modine was not only awarded with the power train cooling module business, but also the entire HVAC system.

    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.

    This news release contains forward-looking statements that involve assumptions, risks, and uncertainties, and Modine's actual results, performance, or achievements may differ materially from those expressed or implied in these statements. A detailed discussion of factors that could affect Modine's results are on page 14 of the company's fiscal 2002 Annual Report to Shareholders and in other public filings with the U.S. Securities and Exchange Commission. Modine does not assume any obligation to update any of these forward-looking statements.