Tower Automotive Announces Dividend on Trust Convertible Preferred Securities

GRAND RAPIDS, Mich.--Aug. 2, 20038, 2003--Tower Automotive, Inc. , announced today that a dividend of $0.84375 per share will be paid on the 6 3/4% trust convertible preferred securities issued by the Tower Automotive Capital Trust.

The dividend will be payable on September 30, 2003, to stockholders of record on September 15, 2003. The dividend will be paid on 5,175,000 shares outstanding.

About Tower Automotive

Tower Automotive, Inc., is a global designer and producer of structural components and assemblies used by every major automotive original equipment manufacturer, including Ford, DaimlerChrysler, GM, Honda, Toyota, Nissan, Fiat, Hyundai/Kia, BMW, and Volkswagen Group. Products include body structures and assemblies, lower vehicle frames and structures, chassis modules and systems, and suspension components. The company is based in Grand Rapids, Mich.