Modine Announces President's Initiative for Energy Conservation

RACINE, Wis.--Jan. 2, 20058, 2005--Modine Manufacturing Company , a world leader in thermal management, announced today it is launching a new aggressive President's Initiative for Energy Conservation at its 35 manufacturing facilities worldwide to conserve resources, prevent pollution, eliminate waste and further reduce operating costs. The initiative enlarges and enhances Modine's 15 years of progressive environmental programs, and commitment to be a good neighbor and reduce the impact on the environment.

"We're launching this initiative to continue to conserve energy, protect the environment, and simply because it's the right thing to do," said David Rayburn, Modine President and Chief Executive Officer. "We are challenging our plants to reduce their energy use by 12 percent over the 2003-04 baseline year, in both electricity and fuel consumption. We feel 12 percent is a challenging, yet achievable goal, based on our comparison with other companies," Rayburn added.

This initiative not only targets reducing on-site emissions of greenhouse gases from fuel consumption, but also extends to reducing emissions from utilities that supply Modine electricity. "This year we felt it necessary to roll out the Energy Conservation Initiative to all Modine locations to combat the growing concern over greenhouse gases and their impact on global warming," said Rayburn.

Conserving energy and reducing emissions is not new to Modine. In fact, this initiative is a logical progression of several successful waste minimization programs Modine has implemented since 1990. Each of these programs yielded excellent results. Modine currently monitors waste generation, air emissions and the use of natural resources at all its manufacturing locations worldwide. This consistent, global means of monitoring environmental performance provides a baseline for improvement. In addition, Modine has been successful in eliminating certain chemicals it has targeted for elimination due to their potential environmental impacts.

Over the years, Modine has won recognition for its commitment to the environment. For the past five years the Racine, Wisconsin based manufacturer has been named one of the prestigious 100 Best Corporate Citizens. The list, published in the spring edition of Business Ethics Magazine, is based on quantitative measures of corporate service to seven stakeholder groups: Stockholders, Employees, Customers, the Community, the Environment, Overseas Stakeholders, and Women & Minorities. Last year for the third straight year, Modine finished tied for first in the environmental category. Modine is also a member of the Domini 400 Social Index (DSI), created in 1990 to screen companies with strong social and environmental performance.

"We have a good compliance record, low emissions, and environmentally-friendly products," said Gary Fahl, Modine's Environmental Health and Safety Officer. "We are extremely proud of our record on the environment, but we are pushing all our facilities to do even more. If all our plants successfully meet the challenge of reducing energy use by 12 percent, the environment would benefit from a reduction in greenhouse gases equivalent to eliminating the emissions of more than 5,000 cars. In addition Modine would save $2.3 million in annual costs," said Fahl. When facilities achieve the 12 percent reduction, Modine will present them with a President's Energy Initiative Award and plant a tree at that location to mark the occasion.

The new President's Energy Initiative will target all Modine plants worldwide including these in the United States: McHenry, IL; Logansport, IN; Washington, IA; Emporia, KS; Harrodsburg, KY; Camdenton, MO; Jefferson City, MO; Joplin, MO; Trenton, MO; Pemberville, OH; Toledo, OH; Lancaster, PA; West Kingston, RI; Richland, SC; Clinton, TN; Lawrenceburg, TN; Ferris, TX; Buena Vista, VA.

Modine, with fiscal 2004 revenues of $1.2 billion, specializes in thermal management systems and components, bringing heating and cooling technology and solutions to diversified global markets. The Company's products are used in light, medium, and heavy-duty vehicles, HVAC equipment, industrial equipment, refrigeration systems, fuel cells and electronics. Modine employs more than 8,500 people worldwide at 35 facilities, including 18 in the United States. More information about Modine can be found at www.modine.com.