Tenneco Automotive Amends Pricing of Senior Credit Facility

LAKE FOREST, Ill., Feb. 24, 2005 -- Tenneco Automotive announced today that the company has amended the Term Loan B and Tranche B-1 Letter of Credit/Revolving Loan under its senior credit facility to reduce the pricing on these portions of the facility by three-quarters of a percentage point.

As previously announced, the company also made a voluntary $40 million cash pre-payment on its $396 million Term Loan B credit facility, which matures in December 2010. This voluntary pre-payment will reduce the amortization of the Term Loan B in forward order, thus eliminating the $1 million quarterly payments that would have been due beginning March 31, 2005 to December 31, 2009, and reduce the $94 million payment to $74 million due March 31, 2010. The pre-payment will not affect the remaining $94 million quarterly payments due on June 30, September 30 and December 12, 2010.

The amended credit facility is expected to reduce interest expense by $4 million annually and the cash pre-payment is expected to reduce the company's annual interest expense by about $2 million, beginning immediately.

"Amending our senior credit facility provides additional financial flexibility and reflects the progress we have made in improving our operations and performance," said Mark P. Frissora, chairman and CEO, Tenneco Automotive. "We believe our consistent and proven strategies for growing our businesses, reducing costs and improving operational flexibility and efficiency will continue to drive our No. 1 goal of generating cash to pay down debt."

Tenneco Automotive is a $4.2 billion manufacturing company with headquarters in Lake Forest, Illinois and approximately 18,400 employees worldwide. Tenneco Automotive is one of the world's largest designers, manufacturers and marketers of emission control and ride control products and systems for the automotive original equipment market and the aftermarket. Tenneco Automotive markets its products principally under the Monroe(R), Walker(R), Gillet(R) and Clevite(R) Elastomer brand names. Among its products are Sensa-Trac(R) and Monroe Reflex(R) shocks and struts, Rancho(R) shock absorbers, Walker(R) Quiet-Flow(R) mufflers, Dynomax(R) performance exhaust products, and Clevite(R) Elastomer noise, vibration and harshness control components.

This press release contains forward-looking statements. Words such as "continue," "goal," "anticipate," "will," "estimate" and similar expressions identify forward-looking statements. These forward-looking statements are based on the current expectations of the company (including its subsidiaries). Because these forward-looking statements involve risks and uncertainties, the company's plans, actions and actual results could differ materially. Among the factors that could cause these plans, actions and results to differ materially from current expectations are: (i) the company's continued success in cost reduction and cash management programs and its ability to execute restructuring and other cost reduction plans and to realize anticipated benefits from these plans and (ii) changes in capital availability or costs, including increases in the company's costs of borrowing (i.e., interest rate increases), the amount of the company's debt, the ability of the company to access capital markets and the credit ratings of the company's debt. The company undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date of this press release. Additional information regarding these risk factors and uncertainties is detailed from time to time in the company's SEC filings, including but not limited to its report on Form 10-K for the year ended December 31, 2003. Further information can be found on the company's web site at http://www.tenneco-automotive.com/ .