Diamond Triumph Auto Glass, Inc. Announces Third Quarter 2003 Results

KINGSTON, Pa., Nov. 14, 2003 -- Diamond Triumph Auto Glass, Inc. announced today that net sales for the nine months ended September 30, 2003 increased $15.5 million, or 10.0%, to $171.0 million as compared to $155.5 million for the nine months ended September 30, 2002. Net sales for the third quarter ended September 30, 2003 increased $4.1 million, or 7.7%, to $57.1 million as compared to $53.0 million for the third quarter of 2002. Net income for the nine months ended September 30, 2003 increased by $0.8 million, or 34.8%, to $3.1 million from $2.3 million for the nine months ended September 30, 2002. Net income for the third quarter ended September 30, 2003 increased by $0.3 million, or 795.5%, to $.3 million as compared to $.0 million for the third quarter of 2002. EBITDA for the nine months ended September 30, 2003 decreased by $0.9 million, or 6.6%, to $12.8 million from $13.7 million for the nine months ended September 30, 2002. EBITDA for the third quarter of 2003 decreased by $.3 million, or 8.8%, to $3.1 million from $3.4 million for the third quarter of 2002.

                     Diamond Triumph Auto Glass, Inc.
                             ($ in Millions)

                            Nine Months Ended          Three Months Ended
                              September 30,              September 30,
                           2003          2002          2003          2002
                              (unaudited)                 (unaudited)

  Net Sales               $171.0        $155.5        $57.1         $53.0
  Cost of Sales             52.3          44.5         17.5          15.9
  Gross Profit             118.7         111.0         39.6          37.1
  Operating Expenses       108.0          99.6         37.1          34.6
  Income From Operations   $10.7         $11.4         $2.5          $2.5

  Net Income                $3.1          $2.3         $0.3          $0.0

  EBITDA (1)               $12.8         $13.7         $3.1          $3.4

  Total Long-Term Debt     $79.8        $100.0        $79.8        $100.0

Norm Harris, Diamond Triumph's Chief Executive Officer, had the following comments regarding the Company. "We are pleased with the continued increase in our unit volume versus last year, which has enabled us to achieve a record high nine-month sales volume despite the challenging pricing environment impacting our industry. Overall pricing continues to be a very challenging variable for our industry."

Michael Sumsky, Diamond Triumph's President and Chief Financial Officer added, "Our cash flow remained strong during the third quarter enabling the Company to repurchase $2.2 million in aggregate principal amount of senior notes at a financial statement gain. We will continue to explore opportunities to de-lever the Company."

Diamond Triumph Auto Glass, Inc. headquartered in Kingston, PA, is a leading provider of automotive glass replacement and repair services. Diamond Triumph currently operates 277 company owned automotive glass service centers, approximately 1,100 mobile installation vehicles and six distribution centers in 46 states. For more information about Diamond Triumph, visit our website at www.diamondtriumph.com.

  (1)   EBITDA is defined as earnings before interest expense, taxes,
        depreciation and amortization, which for Diamond Triumph is income
        from operations plus depreciation and amortization and interest
        income.  EBITDA is not a measurement of financial performance under
        accounting principles generally accepted in the United States of
        America, or GAAP, and should not be considered in isolation or as
        an alternative to income from operations, net income, cash flows
        from operating activities or any other measure of performance or
        liquidity derived in accordance with GAAP.  EBITDA is presented
        because Diamond Triumph believes it is an indicative measure of its
        operating performance and its ability to meet its debt service
        requirements and is used by investors and analysts to evaluate
        companies in its industry as a supplement to GAAP measures.

        Not all companies calculate EBITDA using the same methods;
        therefore, the EBITDA figures set forth herein may not be
        comparable to EBITDA reported by other companies.  A substantial
        portion of Diamond Triumph's EBITDA must be dedicated to the
        payment of interest on its outstanding indebtedness and to service
        other commitments, thereby reducing the funds available to Diamond
        Triumph for other purposes.  Accordingly, EBITDA does not represent
        an amount of funds that is available for management's discretionary
        use.

                            Nine Months Ended         Three Months Ended
                              September 30,              September 30,
                            2003         2002          2003         2002
                         (dollars in millions)        (dollars in millions)
  Income from operations    $10.7     $ 11.4           $2.5         $ 2.5
  Depreciation and
   amortization               2.1        2.1            0.6           0.8
  Interest Income             0.0        0.2            0.0           0.1
     EBITDA                $ 12.8     $ 13.7          $ 3.1         $ 3.4