Cooper Standard Automotive Reports First Quarter 2005 Results

NOVI, Mich., May 16, 2005 -- Cooper-Standard Holdings Inc., the parent of Cooper-Standard Automotive Inc., today reported results for its first full quarter as a stand-alone company. The company posted revenue of $470.1 million for the first quarter ended March 31, 2005, compared to a record $497.0 million for the prior year same quarter.

Cooper Standard's EBITDA was $41.1 million for the first quarter 2005 compared to $59.1 million for the same period in 2004. Adjusting for restructuring, one-time inventory write-up, and unrealized foreign exchange losses on acquisition-related indebtedness, Adjusted EBITDA was $53.5 million, or 11.4% of sales in 2005, compared to $68 million for the same period in 2004. The company generated after-tax cash flow of $24.3 million in the first quarter before transaction-related payments.

"Cooper Standard continues to achieve double-digit EBITDA margins in a difficult environment," said Jim McElya, CEO. "We have managed to effectively transition to stand-alone status amidst industry challenges, and we are optimistic about our prospects for growth, as well as the continued diversification of our product lines and customer base. We are looking forward to building on what has been a solid beginning to 2005."

Net income for the first quarter was a loss of $0.5 million, which included $19.2 million in non-cash expenses representing accounting adjustments related to the purchase of the company in December 2004. These items consist of a $9.8 million one-time inventory write-up, $7.1 million impact on depreciation and amortization from adjusting fixed assets and recording other intangibles in purchase accounting, and $2.3 million of unrealized foreign exchange losses on acquisition-related indebtedness. In addition, the first quarter loss included $15.9 million of interest expense on the acquisition-related debt. Cooper Standard had net income of $26.5 million for the first quarter of 2004.

  First Quarter Highlights

   *  Incremental new business awards -- Cooper Standard was awarded
      $112 million of annualized sales in new and replacement business.  The
      company successfully obtained net new business of $53 million after
      considering business scheduled to phase out.  Approximately two-thirds
      of this new business was awarded by customers other than the Big
      Three.

   *  Significant model launches on schedule -- Cooper Standard is in the
      process of launching new programs and products such as:

        Audi (Q7 SUV)
        Ford (Expedition refresh and Mondeo)
        General Motors (Impala and Tahoe/Suburban)
        Land Rover (LR3)
        Nissan (Armada and Pathfinder)
        Volkswagen (Golf, Passat and T5)

   *  Union contract renewals -- Cooper Standard reached early and
      successful agreements with the United Steelworkers at two of its U.S.
      plants.

   *  Received Quality Award -- Cooper Standard was a Silver winner of
      Ford's World Excellence Award for quality, cost and delivery.

  Adjusted EBITDA Reconciliation

                                    Qtr-1             Qtr-1
  $Millions                          2004              2005

  Net Income                        $26.5             $(0.5)

  Provision for Income Taxes         10.9              (0.1)

  Interest Expense (Net)              1.1              16.1

  EBIT                              $38.5             $15.5

  Depreciation and Amortization      20.6              25.6

  EBITDA                            $59.1             $41.1

  Restructuring                       4.4               0.3
  Inventory Write-up (1)                                9.8
  Production Move (2)                 1.8
  Foreign Exchange Loss (3)                             2.3
  Corporate/Pension Charges (4)       2.7

  Adjusted EBITDA                   $68.0             $53.5

  (1)  A one-time write-up of inventory to fair value at the date of
       acquisition

  (2)  Non-recurring costs from the movement of Cleveland facility OEM
       production to other facilities

  (3)  Unrealized foreign exchange losses on acquisition-related
       indebtedness

  (4)  Pro Forma adjustment for prior corporate charges and amortized
       pension losses

Management uses Adjusted EBITDA as a measure of performance and to demonstrate compliance with debt covenants. The Adjusted EBITDA may vary slightly from the amount used in calculating covenant compliance due to the classification of joint venture equity earnings. EBITDA should not be construed as income from operations or net income, as determined by generally accepted accounting principles. Other companies may report EBITDA differently.

For further detail, refer to the company's quarterly report on Form 10-Q filed with the Securities and Exchange Commission and posted on the company's website at: http://www.cooperstandard.com/

About Cooper Standard Automotive

Cooper-Standard Automotive Inc., headquartered in Novi, Mich., specializes in the manufacture and marketing of systems and components for the global automotive industry. Products include body sealing systems, NVH control systems and fluid handling systems. Cooper-Standard Automotive Inc. employs more than 14,000 across 46 facilities in 14 countries. For more information, visit the company's Web site at: http://www.cooperstandard.com/.

Cooper Standard is a privately-held portfolio company of The Cypress Group and Goldman Sachs Capital Partners V, L.P.

The Cypress Group is a private equity investment firm managing more than $3.5 billion of capital. Cypress has an extensive track record of making growth-oriented investments in targeted industry sectors and building equity value alongside proven management teams. Selected investments made by Cypress include Cinemark, Inc.; Williams Scotsman, Inc.; WESCO International, Inc.; ClubCorp, Inc.; MedPointe Inc.; Montpelier Re Holdings, Ltd.; Republic National Cabinet Corp.; Catlin Group, Ltd.; The Meow Mix Company; Financial Guaranty Insurance Company; Communications & Power Industries, Inc.; Affinia Group Inc.; Stone Canyon Entertainment Corporation; Scottish Re Group, Limited; and Cooper Standard Automotive.

GS Capital Partners V, L.P. and affiliated funds (collectively, "GSCP V") currently serves as Goldman Sachs' primary investment vehicle for direct private equity investing. GSCP V was raised in April 2005 with $8.5 billion of capital commitments and is managed by the Principal Investment Area of Goldman Sachs. The GS Capital Partners V family is one of the investment vehicles of Goldman Sachs for making long term investments in equity and equity-related securities in privately negotiated transactions, leveraged buyouts and acquisitions. Goldman Sachs, directly and indirectly through its various Principal Investment Area managed investment partnerships, has invested over $16 billion in over 500 companies since 1986, and manages a diversified global portfolio.