Hayes Lemmerz' Senior Lenders Agree to Cut Interest Rate by 1% On $450 Million Term Loan, Saving Company $4.5 Million Annually

Loan Rate Cut Reflects Lenders' Confidence in Auto Supplier's Business Prospects

NORTHVILLE, Mich., Oct. 20 -- Hayes Lemmerz International, Inc. (BULLETIN BOARD: HAYZ) announced today that its lenders have reduced the interest rate by 100 basis points on the Company's $450 million six-year amortizing term loan, due in 2009. The reduced interest rate will save the Company approximately $4.5 million annually.

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"This interest rate reduction reflects our lenders' recognition that Hayes Lemmerz' business prospects are good, and our credit is sound," said James Yost, Vice President of Finance and Chief Financial Officer of Hayes Lemmerz International. "The reduced interest cost contributes to our ever-increasing competitiveness, and helps us toward our goal of being one of the best suppliers to the global automotive industry."

For the second quarter ended July 31, 2003, Hayes Lemmerz' average interest rate on the term loan was 5.9%. Hayes Lemmerz obtained the $450 million term loan, as well as a $100 million line of credit, as exit financing when it emerged from Chapter 11 reorganization on June 3, 2003.

Hayes Lemmerz International, Inc. is a leading global supplier of automotive and commercial highway wheels, brakes, powertrain, suspension, structural and other lightweight components. The Company has 43 plants, 3 joint venture facilities and over 11,000 employees worldwide.

This press release includes forward looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, as amended, which represent the Company's expectations and beliefs concerning future events that involve risks and uncertainties which could cause actual results to differ materially from those currently anticipated. All statements other than statements of historical facts included in this release are forward looking statements. Factors that could cause actual results to differ materially from those expressed or implied in such forward looking statements include the factors set forth in our periodic reports filed with the SEC. Consequently, all of the forward looking statements made in this press release are qualified by these and other factors, risks, and uncertainties.

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