Meridian Automotive Systems Receives Court Approval to Extend Interim Access to Its Debtor-In-Possession Financing

DEARBORN, Mich.--May 2, 20056, 2005--Meridian Automotive Systems, Inc. today announced that it has received approval from the U.S. Bankruptcy Court for the District of Delaware to extend interim access to $30 million of its debtor-in-possession (DIP) financing through June 30, 2005. As previously announced, interim access to the DIP financing was originally approved at a hearing held on April 27, 2005.

The Company said that its request to extend the interim access was the result of ongoing discussions with its lending group regarding revisions to its 2005 operating forecasts. These revisions were driven by recent reductions in production volumes by original equipment manufacturers (OEMs). The Company is working with its pre-petition lending group for an appropriate DIP financing that takes into account the revised 2005 operating forecast. Meridian believes that its available post-petition liquidity will not be reduced as a result of any modifications to its final DIP facility. Meridian said that it expects that the $30 million in interim DIP financing along with normal cash flow is sufficient for its current operating needs. A final hearing on the Company's DIP financing will be held by the end of June.

About Meridian Automotive Systems

Meridian Automotive Systems is a leading supplier of technologically advanced front and rear end modules, lighting, exterior composites, console modules, instrument panels and other interior systems to automobile and truck manufacturers. Meridian operates 22 plants in the United States, Canada and Mexico, supplying Original Equipment Manufacturers and major Tier One parts suppliers.

This news release contains forward-looking statements based on current assumptions and forecasts made by Meridian Automotive Systems management. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual future consolidated results, financial situation, development or performance of the company, and the estimates given here. The company assumes no liability to update such forward-looking statements or to adapt to future events or development.