The Cypress Group and Goldman Sachs Capital Partners Complete $1.165 Billion Cooper-Standard Acquisition

NEW YORK and NOVI, Mich.--Dec. 2, 20043, 2004--The Cypress Group, the New York-based private equity firm, and Goldman Sachs Capital Partners announced today that they have completed their previously announced acquisition of Cooper-Standard Automotive from Cooper Tire & Rubber Co. . The transaction was valued at $1.165 billion.

With 2003 net sales of approximately $1.6 billion, Cooper-Standard Automotive is a leading manufacturer of engineered components serving the automotive OEM market. Cooper-Standard is a global leader in each of its product lines, which include fluid handling systems, body sealing systems, and active and passive vibration control systems.

Jim McElya, CEO of Cooper-Standard Automotive, said, "We are delighted to have concluded this transaction and are pleased to welcome our partners as we begin this new chapter in Cooper-Standard's growth as an independent company. Both Cypress and Goldman Sachs have a thorough understanding of our business and a deep commitment to continuing our traditions of excellence and innovation in the service of our customers."

David Spalding, Vice Chairman of Cypress, said, "Cooper-Standard has distinguished itself as a world leader in each of its core product areas. We look forward to working with Jim McElya, his management team, and Cooper-Standard's employees to build upon the Company's current success and create a strong future by executing on the Company's growth plan."

Terry O'Toole, Managing Director of Goldman, Sachs & Co., said, "Cooper-Standard has a highly experienced, seasoned team in place and is well positioned in the increasingly competitive automotive parts sector. We are pleased that the transaction is now complete and will turn our attention to supporting Cooper-Standard as it seeks to expand current relationships with customers and forge new ones."

The Cypress Group is a New York based private equity group which manages two private equity funds with more than $3.5 billion in commitments. Cypress invests in privately negotiated transactions, targeting operating businesses and investing with management to foster continued growth. Investments made by Cypress include Cinemark, Inc.; AMTROL, Inc.; Williams Scotsman, Inc.; WESCO International, Inc.; ClubCorp, Inc.; Danka Business Systems PLC; MedPointe Inc.; Montpelier Re Holdings, Ltd.; Republic National Cabinet Corp.; Catlin Group Ltd.; The Meow Mix Company; Financial Guaranty Insurance Company (FGIC); Communications & Power Industries, Inc.; Affinia Group Inc.; and Stone Canyon Entertainment Corporation. The Cypress website address is: www.cypressgp.com.

Goldman Sachs is a global leader in corporate equity and mezzanine investing. To date, the Goldman Sachs Principal Investment Area has formed ten investment vehicles aggregating over $17 billion of capital. Goldman Sachs is a leading global investment banking, securities and investment management firm that provides a wide range of services worldwide to a substantial and diversified client base that includes corporations, financial institutions, governments and high net worth individuals. Founded in 1869, it is one of the oldest and largest investment banking firms. The firm is headquartered in New York and maintains offices in London, Frankfurt, Tokyo, Hong Kong and other major financial centers around the world.

Cooper-Standard is a leading global manufacturer of fluid handling systems, body sealing systems, and active and passive vibration control systems, primarily for the automotive original equipment manufacturing markets. The company is headquartered in Novi, Michigan, and generated net sales of approximately $1.6 billion in 2003.