Tower Automotive Receives Approval of First Day Motions; Company Operating Normally

NOVI, Mich.--Feb. 4, 2005--Tower Automotive, Inc. today announced that it has received approval of its "first day motions" relating to employee, financing and other operational matters from the U.S. Bankruptcy Court for the Southern District of New York. The motions encompass a number of issues related to the continued operation of the company in the normal course.

Among the motions approved by the Court yesterday include those relating to the continued payment of employee salaries, wages and benefits, the continued honoring of warranties and other obligations to customers, and the continued use of the company's existing cash management systems. Additionally, the company received approval of its request to immediately access $125 million of the $725 million debtor-in-possession financing it arranged with JPMorgan. The company expects to receive approval to access the full amount of its financing commitment at a hearing scheduled on February 28, 2005.

Kathleen Ligocki, Tower Automotive's President and Chief Executive Officer, said, "We are pleased to have received Court approval for all of our motions related to financing and employees, which enable us to operate our business as usual. I am also pleased to report that our operations have continued running during the first two days since our reorganization filing. Tower's customers have been supportive of the company during this difficult period, and we will continue to work hard to meet their needs. I also had the opportunity to meet with many Tower colleagues, and I feel they understand why we have taken this action and know the key role they play in the future success of the company."

About Tower Automotive

Tower Automotive, Inc. is a global designer and producer of vehicle structural components and assemblies used by every major automotive original equipment manufacturer, including BMW, DaimlerChrysler, Fiat, Ford, GM, Honda, Hyundai/Kia, Nissan, Toyota, Volkswagen and Volvo. Products include body structures and assemblies, lower vehicle frames and structures, chassis modules and systems, and suspension components. Additional company information is available at www.towerautomotive.com.

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