Standard Motor Products, Inc. Announces Public Offering of Common Stock

    NEW YORK--June 19, 2003--Standard Motor Products, Inc. , an automotive replacement parts manufacturer and distributor, today announced that it had made a public offering of 5,750,000 shares of its common stock at a price of $10.50 per share. Standard Motor Products has granted to the underwriters of the public offering an option to purchase up to an additional 862,500 shares to cover over-allotments, if any. There will be approximately 17.8 million shares of Standard Motor Products, Inc.'s common stock outstanding after the public offering. The public offering was underwritten by Goldman, Sachs & Co. and Morgan Stanley & Co. Incorporated.
    Standard Motor Products plans to use the proceeds of the public offering to repay a portion of its outstanding indebtedness under its revolving credit facility. Standard Motor Products then intends to borrow the entire cash portion of the purchase price of Dana Corporation's Engine Management Division from its revolving credit facility to consummate the closing of the acquisition.
    A copy of the prospectus relating to the shares of common stock comprising the public offering may be obtained from the offices of Goldman, Sachs & Co., 85 Broad Street, New York, New York 10004.
    The press release shall not constitute an offer to sell, or a solicitation of an offer to buy, nor shall their be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any state jurisdiction.

    Under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, Standard Motor Products cautions investors that any forward looking statements made by the company, including those that may be made in this press release, are based on management's expectations at the time they are made, but they are subject to risks and uncertainties that may cause actual results, events or performance to differ materially from those contemplated by such forward looking statements. Certain of the factors that could cause actual results, events or performance to differ materially from those risks and uncertainties discussed in this press release, and detailed from time-to-time in prior press releases, are described in the prospectus related to the public offering and in Standard Motor Products. Inc.'s filings with the Securities and Exchange Commission, including its annual report on Form 10-K and quarterly reports on Form 10-Q. By making these forward looking statements, Standard Motor Products undertakes no obligation or intention to update these statements after the date of this release.