Metaldyne Receives Letter of Intent from Hyundai To Supply Connecting Rods for Future Engine Program

PLYMOUTH, Mich., Aug. 29, 2003 -- Metaldyne announced today that Hyundai has awarded the company a contract to supply finished machined and assembled powder metal forged connecting rods for a future engine program.

Metaldyne will supply rods to Hyundai's assembly plant currently under construction in Alabama, as well as the company's facility in South Korea.

"Metaldyne's full-service manufacturing capabilities put us in a unique position to deliver cutting-edge engine solutions to our global customers," said George Thanopoulos, Engine Group president. "Metaldyne has always been the leader in powder metal connecting rod technology, and we're now taking that one step further by providing fully machined and assembled connecting rods."

This contract marks the growing trend by automakers toward outsourcing more complex assemblies and modules to suppliers. In the past, Metaldyne supplied the connecting rods and OEMs performed the machining and assembly operations. Metaldyne is able to offer more value to its customers by supplying fully machined and assembled powder metal forged connecting rods.

About Metaldyne

Metaldyne is a leading global designer and supplier of metal-based components, assemblies and modules for transportation-related powertrain and chassis applications including engine, transmission/transfer case, wheel-end and suspension, axle and driveline, and noise and vibration control products to the motor vehicle industry. The company serves the automotive segment through its Chassis, Driveline & Transmission, and Engine Group.

Headquartered in Plymouth, Mich., Metaldyne has annual revenues of $1.5 billion. The company employs over 7,250 employees at over 50 facilities in 11 countries.

For more information, please visit http://www.metaldyne.com/ .