Julio Caspari Named President of ZF Group North American Operations

FLORENCE, Ky., May 27, 2003; ZF a leading worldwide automotive supplier of driveline and chassis technology -- named Julio Caspari as President of ZF Group North American Operations, effective June 1, 2003.

He takes over the position from Bernd Habersack, who will remain with ZF as a Member of the Board of Management responsible for the NAFTA region -- and will continue as President and Chief Executive Officer of the ZF Lemforder -- the car chassis technology division of ZF.

Caspari had been President, Powertrain and Suspension Components Division (ZF Sachs) in North America since 2001. He has held various positions within Sachs since 1975.

In his new position, Caspari is responsible for all ZF operations within NAFTA, but will continue to direct the Powertrain and Suspension Components Division.

"This is a great opportunity," Caspari said. "I look forward to learning more about each of our divisions and reinforcing the image and reputation of ZF within the region."

Caspari, 52, is from Sao Paulo, Brazil. He moved to the Detroit area during January 2001. He is fluent in four languages, and holds a degree in mechanical engineering from the University of Sao Paulo and a master's degree in business administration from FGV in Brazil.

ZF Friedrichshafen AG is a leading worldwide supplier of driveline and chassis technology. Headquartered in Friedrichshafen, Germany, ZF is the 15th largest automotive supplier in the world. The company has a total workforce of 53,300 at 119 locations in 25 countries, and combined revenues for the group totaled more than $10 billion in 2002.

With sales of more than $2 billion in 2002 ZF expects NAFTA region annual sales of more than $3 billion by 2004. ZF Group North American Operations are headquartered in Florence, Kentucky.