Dana Corporation Names Kenneth A. Hiltz Chief Financial Officer

TOLEDO, Ohio, March 7 -- Dana Corporation announced today that Kenneth A. Hiltz has been named Chief Financial Officer for the company. Mr. Hiltz will report to Dana Chairman and CEO Mike Burns in this role with direct responsibility for leading the advancement of Dana's global financial organization.

"Ken possesses a strong leadership background in corporate turnarounds, restructurings, and reorganizations that will benefit Dana as we work to position our company for greater financial health and operational growth," Mr. Burns said. "Among Ken's chief strengths is his ability to lead the analysis, planning, and implementation of restructuring strategies."

Mr. Hiltz's financial experience spans more than three decades in a wide variety of industries, including heavy manufacturing and automotive, contracting, distribution, retailing, and numerous service businesses. He is also a Managing Director of AlixPartners, a financial advisory firm specializing in performance improvement and corporate turnarounds. His financial leadership background includes having served as CFO at Foster Wheeler Ltd., a global provider of engineering services and products, which restructured its debt out of court. Mr. Hiltz has also provided financial leadership in successful reorganizations as Chief Restructuring Officer and CFO of Hayes Lemmerz International, Inc., a leading global supplier of automotive and commercial highway wheels, brakes, powertrain, suspension, structural, and other lightweight components; and CFO of Joy Global, Inc. (formerly Harnischfeger Industries, Inc.), a global manufacturer of mining equipment.

A Certified Management Accountant and CPA, Mr. Hiltz holds business degrees from Xavier University and the University of Detroit and is an alumnus of the Advanced Management Program at Harvard Business School.

Dana people design and manufacture products for every major vehicle producer in the world. Dana is focused on being an essential partner to automotive, commercial, and off-highway vehicle customers, which collectively produce more than 60 million vehicles annually. A leading supplier of drivetrain, chassis, structural, and engine technologies, Dana employs 46,000 people in 28 countries. Based in Toledo, Ohio, the company reported sales of $9 billion in 2004. Dana's Internet address is: www.dana.com.