American Axle & Manufacturing Awarded New Business

DETROIT, Oct. 23, 2003 -- American Axle & Manufacturing Holdings, Inc. (AAM), which is traded as AXL on the NYSE, today announced that it has secured a new driveline systems contract, new transmission components business, and its first ever production intent contract for its SmartBar(TM) technology. The launches for these programs will occur in 2004-2005, and will generate approximately $40 million in revenue annually when in full production.

The SmartBar incorporates patented and patent-pending new technology which covers both hardware advancements and control logic. The SmartBar microprocessor controller continuously monitors vehicle speed, transfer case selection, and driver-selected inputs. The SmartBar provides maximum traction and handling performance with reduced noise, vibration, and harshness (NVH).

The transmission components incorporate AAM's world-class net-shaped forging and value added machining technology.

"We are extremely pleased to have been awarded this new business," says Co-Founder, Chairman & CEO Richard E. Dauch. "Research and development to produce new and innovative products are differentiators in this global marketplace. In addition to further diversifying our customer base, these new business awards demonstrate the success of AAM's focus on advanced technology and engineering."

AAM is a world leader in the manufacture, design, engineering, and validation of driveline systems and related components and modules, chassis systems and forged products for trucks, sport utility vehicles and passenger cars. In addition to its 14 locations in the United States (in Michigan, New York and Ohio), AAM also has offices and facilities in Brazil, England, Germany, Japan, Mexico and Scotland.