Titan International and Citicorp Venture Capital Enter Stock Purchase Agreement

QUINCY, Ill.--April 22, 2004--The Board of Directors of Titan International, Inc. and Titan's senior bank lenders have agreed to allow Titan to enter a stock purchase agreement with Citicorp Venture Capital, Ltd. (CVC). Through this agreement, Titan has purchased approximately 4.9 million shares (approximately 23 percent of the total shares outstanding) of Titan International common stock held by CVC for $15 million (U.S. dollars). This agreement will be incorporated with Titan's Form 8-K filed on April 22, 2004.

"CVC was formerly the largest and a very supportive stockholder of Titan and has been a significant investor since 1993," stated Maurice Taylor Jr., Titan president and CEO. "The economy should continue to strengthen for the remainder of the year and Titan is positioned for growth. I am pleased to report that Titan returned operations to profitable levels in the first quarter of 2004."

This press release includes forward looking statements that involve risks and uncertainties, including risks as detailed in Titan International, Inc.'s periodic filings with the Securities and Exchange Commission, including the annual report on Form 10-K for the year ended December 31, 2003.

Titan International is a global supplier of mounted wheel and tire systems for off-highway equipment used in agriculture, earthmoving/construction, and consumer (i.e. all terrain vehicles and trailers) applications.