Sypris Completes First Phase of Deal with Dana

LOUISVILLE, Ky.--Dec. 3, 20031, 2003--Sypris Solutions, Inc. today announced that it has completed the purchase of a manufacturing plant located in Morganton, North Carolina from Dana Corporation ("Dana") and will now begin to furnish Dana with a wide range of drive train components under an eight-year supply agreement that accompanied the purchase. The transaction, which represents the first phase of a larger deal, was first announced on September 4, 2003. The closing occurred on December 31, 2003.

Details regarding the transaction, including an update of the Company's financial outlook for 2004 incorporating the expected impact of the new supply agreement, will be made available through a detailed press release Monday morning, January 5, 2004, and will be followed shortly thereafter by a conference call at 10:00 a.m. Eastern Time. The call can be accessed live via the Internet. Visit www.sypris.com or www.fulldisclosure.com for the link to the call or to listen to a replay of the call, which will be available for 30 days.

Sypris Solutions is a diversified provider of technology-based outsourced services and specialty products. The Company performs a wide range of manufacturing and technical services, typically under multi-year, sole-source contracts with major corporations and government agencies in the markets for aerospace and defense electronics, truck components and assemblies, and for users of test and measurement equipment. For more information about Sypris Solutions, visit its Web site at http://www.sypris.com.