Tower Automotive Announces Proposed Offering Of Convertible Senior Debentures

NOVI, Mich.--May 4, 2004--Tower Automotive, Inc. today announced its intention to offer in the near future $110.0 million principal amount of convertible senior debentures due 2024. The company would grant to the initial purchasers an option to purchase an additional $15.0 million principal amount of the debentures within 30 days after the offering.

If the offering is consummated, it is anticipated that Tower will use the net proceeds of the offering along with borrowings under Tower's new senior credit facilities to repay the existing senior credit facilities, call the existing $200.0 million 5.0% Convertible Subordinated Notes due August 1, 2004, pay related fees and expenses, and for general corporate purposes.

Tower Automotive Inc., is a global designer and producer of vehicle structural components and assemblies used by every major vehicle manufacturer, including BMW, DaimlerChrysler, Fiat, Ford, General Motors, Honda, Hyundai/Kia, Nissan, Toyota and Volkswagen Group. Products include body structures and assemblies, lower vehicle frames and structures, chassis modules and systems, and suspension components. The company is based in Novi, Michigan. Additional company information is available at www.towerautomotive.com.