ArvinMeritor to Sell Its APA Joint Venture Shares to Kayaba

TROY, Mich., Dec. 19, 2003 -- ArvinMeritor, Inc. announced today that it has signed a definitive agreement to sell its 75 percent shareholdings in AP Amortiguadores, S.A. (APA) to joint venture partner Kayaba Industry Co., Ltd. In 1989 ArvinMeritor acquired shares in the joint venture company, which manufactures shock absorbers for the global automotive market. The sale is subject to regulatory approval, and terms of the transaction were not disclosed.

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"ArvinMeritor is steadfast in its pursuit of becoming a market leader of integrated suspension systems and modules for the light vehicle market," said Sidney Del Gaudio, ArvinMeritor Light Vehicle Systems (LVS) vice president and general manager of Undercarriage. "By divesting the APA shares we solely focus our more than 100 years of ride control expertise and resources on designing and producing the next generation of ArvinMeritor suspension system technologies."

AP Amortiguadores, S.A. has more than 780 employees in two locations: Pamplona (Ororbia), Spain and Curitiba (Fazenda do Rio Grande), Brazil.

In October 2001, ArvinMeritor dissolved its North American joint venture with Kayaba Industry Co., Ltd. Today's announcement marks the company's final step to solely own and further develop ArvinMeritor's ride control technologies.

ArvinMeritor is a leader in the design and manufacture of shocks, struts and corner modules for both original and aftermarket customers worldwide. With continuing operations in North America, South America, Europe, Africa and Asia, ArvinMeritor's ride control products are integral to the company's light-, medium- and heavy-duty undercarriage system strategy.

ArvinMeritor, Inc. is a premier $8-billion global supplier of a broad range of integrated systems, modules and components to the motor vehicle industry. The company serves light vehicle, commercial truck, trailer and specialty original equipment manufacturers and related aftermarkets. Headquartered in Troy, Mich., ArvinMeritor employs approximately 32,000 people at more than 150 manufacturing facilities in 27 countries. ArvinMeritor common stock is traded on the New York Stock Exchange under the ticker symbol ARM. For more information, visit the company's Web site at: www.arvinmeritor.com .

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