Modine Leverages Brazilian Acquisition, Bringing in Proven Technical Designs and Processes to Cut Costs and Add More Global Products

RACINE, Wis.--July 25, 2006--Modine Manufacturing Company , a world leader in designing and developing heating and cooling solutions for a diversified group of markets, including agriculture, construction and material handing, announced today that it is bringing proven technical designs and processes for making aluminum bar-plate products into Modine's Radiadores Visconde facility in Sao Paulo, Brazil. Radiadores Visconde had been a joint venture of Modine, since 1998, until Modine bought the remaining 50 percent of the company that it did not own, in May 2006. Adding these proven, mature product lines from Europe to Brazil is part of Modine's strategy to support global products and offer customers technical solutions.

"This expansion of the aluminum bar-plate lines to Brazil represents a commitment to invest in new products and processes," said Scott Bowser, Managing Director-Brazil. "This acquisition in Brazil allowed us to use a low cost manufacturing base for high labor content products that can be used in Brazil, North America, Europe, or across the world. This technology transfer and winning incremental business opportunities were exactly what we had planned when we acquired the rest of Radiadores Visconde."

Aluminum bar-plate heat exchangers - constructed with a series of bars and plates that form heavy wall tubes, are able to withstand extreme pressures and survive in the most demanding operating environments. This technology is commonly used in radiators, oil coolers, and charge-air-coolers in the agriculture and construction markets on applications such as tractors, crawlers, excavators, and skid steer loaders. Because of its ability to cool a variety of fluids - including ethylene glycol, engine oil, hydraulic or transmission fluid, and air, this product line lends itself to the integration of multiple bar-plate heat exchangers and supply of complete cooling packages or individual components. These products are highly scalable and incorporate global design and manufacturing standards that enable Modine to supply already validated, identical products across multiple vehicle platforms - from either Germany or Brazil. Modine will manufacture and supply these products to various global industry leaders in the agriculture, construction and material handling markets.

"Brazil has a reputation for quality and a highly-trained workforce. Producing bar-plate products in South America opens up new opportunities for the rest of the company. It will give Brazil a new line of quality products for use in Brazil, and allow us to export those products around the globe. Our customers are asking for global product capability. They're also demanding more module applications, and this is a way we are providing solutions to both," said Charles Katzfey, Group Vice President in charge of Brazil.

To produce the new aluminum bar-plate technology, Modine is expanding its aluminum vacuum brazing capability to its Brazilian operation. "Modine is currently pursuing programs that include the use of aluminum bar-plate products that could yield $45.0 million in sales from our North American customers alone. We have already secured $6.5 million of that, in pre-production orders," added Bowser.

In addition, Modine will be leveraging its existing local Brazilian supply base, and this new manufacturing capability to support programs and complimentary product needs in other regions of the world. "We are executing our strategy to bring the best systems solutions, with the highest quality designs, as cost effectively as possible to our customers," said Bowser.

About Modine

Founded in 1916, with fiscal 2006 revenues from continuing operations of $1.6 billion, Modine specializes in thermal management systems and components, bringing highly engineered heating and cooling technology and solutions to diversified global markets. Modine products are used in light, medium and heavy-duty vehicles, HVAC (heating, ventilating, air conditioning) equipment, industrial equipment, refrigeration systems, fuel cells, and electronics. Based in Racine, Wisconsin, the company has approximately 8,000 employees at 34 facilities in 15 countries worldwide. For information about Modine, visit www.modine.com.

Statements made in this press release regarding future matters are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements, including those regarding a positive impact from new business programs, exploitation of technology, expansion into niche markets, incremental business and continuing market strength are based on Modine's current expectations. Modine's actual results, performance or achievements may differ materially from those expressed or implied in these statements because of certain risks and uncertainties including, but not limited to, market acceptance and demand for products and technologies; successful launch by Modine of the above described products; the ability of Modine to achieve projected sales and production levels and avoid unanticipated product or manufacturing difficulties; the manufacture of a quality product acceptable to the applicable market; and other factors affecting Modine's business prospects discussed in filings made by Modine, from time to time, with the SEC including the factors discussed in the "Cautionary Factors" section in Item 7 of the Company's most recent Annual Report on Form 10-K and its periodic reports on Form 10-Q. We undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise.