CTS Corporation Announces Award of Advanced Non-Contacting Exhaust Gas Recirculation Sensor

    ELKHART, Ind.--April 15, 2003--CTS Corporation , a global leader in resistive and non-contacting based automotive sensors, today announced the award of Non-Contacting Exhaust Gas Recirculation (EGR) Sensor business from a major European Tier One supplier for use on advanced EGR valves. These valves will be used in passenger vehicles built by two high-volume European vehicle manufacturers for sale in both Europe and North America. Production for the five-to-six year program will begin in the second quarter of this year. The initial award, which covers several engine platforms, is expected to provide $10 million of incremental revenues over the program life. Additionally, the Company expects significant upside potential from related applications for this and other global customers.
    New emission regulations are driving the use of higher EGR flow rates to reduce the generation of nitrogen oxides, necessitating advanced valves and new, higher performance sensors with innovative packaging. Working closely with the customer, CTS capitalized on its experience with non-contacting sensors and its position as the world's leading producer of sensors for EGR valves to develop this custom high-performance sensor with excellent durability and small package size. CTS, operating from its High Blantyre, Scotland facility, offers local engineering and production support, as well as a long-term commitment to fulfill European and worldwide demand.
    The CTS Automotive Products facility, in High Blantyre, Scotland, is an operation of CTS Automotive Products, headquartered in Elkhart, Indiana, and designs and manufactures throttle, exhaust gas recirculation and pedal position sensors, along with drive-by-wire accelerator pedal assemblies. Other CTS Automotive manufacturing facilities are located in Elkhart, Indiana; Streetsville, Ontario, Canada; Matamoros, Mexico; and Kaohsiung, Taiwan. In addition to Scotland-produced sensor products, CTS also designs and manufacturers other sensors and actuators used in powertrain, safety, suspension, fuel and emission control systems for automotive manufacturers worldwide.
    For more information on non-contacting EGR sensors and related products, please contact Dave Russell at (011) 44 1698 503841 or e-mail at dave.russell@is.ctscorp.com .

    Statements about the Company's earnings outlook and its plans, estimates and beliefs concerning the future are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on management's current expectations. Actual results may differ materially from those reflected in the forward-looking statements due to a variety of factors which could affect the Company's operating results, liquidity and financial condition. We undertake no obligations to publicly update or revise any forward-looking statements. Factors that could impact future results include among others: the general market conditions in the automotive, computer and communications markets, and in the overall worldwide economies; reliance on key customers; the Company's capabilities to implement measures to improve its financial condition and flexibility; the Company's successful execution of its ongoing cost-reduction plans; pricing pressures and demand for the Company's products, especially if economic conditions worsen or do not recover in the key markets for the Company's products; and risks associated with our international operations, including trade and tariff barriers, exchange rates and political and geopolitical risks. Investors are encouraged to examine the Company's SEC filings, which more fully describe the risks and uncertainties associated with the Company's business.
    CTS Corporation is a leading designer and manufacturer of components and sensors, and EMS for the automotive, computer and communications markets. The Company manufactures products in North America, Europe and Asia. Worldwide sales coverage is accomplished through a network of direct sales personnel, independent manufacturers' representatives and electronic distributors. The Company's stock is traded on the NYSE under the ticker symbol "CTS." To find out more, visit the Company's website at www.ctscorp.com.