Tower Automotive Announces Dividend on Trust Convertible Preferred Securities

NOVI, Mich.--May 2, 20048, 2004--Tower Automotive, Inc. announced today that a dividend of $0.84375 per share will be paid on the 6 3/4% trust convertible preferred securities issued by the Tower Automotive Capital Trust. The dividend will be payable on June 30, 2004, to stockholders of record on June 15, 2004. The dividend will be paid on 5,175,000 shares outstanding.

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.