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Tower Automotive Announces Opening of New Joint-Venture Facility in China

NOVI, Mich.--July 8, 2004--Tower Automotive, Inc. recently announced the official opening of a new facility for its joint venture operation in Wuhu, China.

Tower Automotive owns 80 percent of the joint venture, which is called Tower Automotive (Wuhu) Company Ltd. The remaining 20 percent is owned by Chery Automotive Company, a Chinese vehicle manufacturer. The joint venture supplies structural suspension components and other stamped assemblies, most of which are e-coated by the company, to Chery. The joint venture was established in March 2003 and has been operating in leased facilities while the new building was under construction.

The new facility covers 28,000 square meters and has 200 employees. The official opening was attended by executives from Tower Automotive, Chery Automotive and First Auto Works (FAW), as well as government officials from Anhui Province.

"With cooperation from our Chinese partner and the local authorities, our team at Tower Automotive Wuhu was able to build this facility in record time, and already has established excellent customer relationships," said Vincent Pairet, Regional Leader for Tower Automotive in Asia.

"This represents a significant step forward for the growth of our business in Asia," added Tower Automotive President and CEO Kathleen Ligocki. "With operations in Korea, Japan and India as well, we are building a significant footprint in a region where the automotive industry is growing rapidly."

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.