Cooper-Standard Automotive Announces First Quarter 2007 Results

NOVI, Mich., May 14, 2007 -- Cooper-Standard Holdings Inc., the parent company of Cooper-Standard Automotive Inc., today announced its first quarter 2007 financial results. Its primary businesses include Body and Chassis Systems, consisting of sealing, noise, vibration, and harshness control parts, and Fluid Handling Systems, consisting of subsystems and components that direct, control, measure, and transport fluids and vapors throughout a vehicle. For the first quarter 2007 it reported sales of $576.3 million, and net income of $4.7 million.

  A summary of the unaudited financial results for the quarter follows:

  $ Millions                 Q-1              Q-1
                            2006             2007

  Net Sales               $540.4           $576.3
  Earnings Before Taxes     $7.9             $9.5
  Net Income                $5.5             $4.7

Sales in the first quarter 2007 were 6.6 percent higher than the same period in 2006. The increase resulted primarily from the full quarter impact of the FHS acquisition and favorable foreign exchange. Sales in Europe and South America in the first quarter of 2007 were higher than the first quarter 2006 offsetting the impact of volume declines in North America.

Net income was $4.7 million, down $0.8 million from 2006 driven by restructuring charges and by the change in the effective tax rate which increased compared to the same quarter of 2006. This was due primarily to non- recognition of income tax benefits on operating losses in the U.S. and certain foreign jurisdictions. Earnings before taxes (EBT) were $9.5 million, which was an increase of $1.6 million compared to the same period in 2006. First quarter 2007 net interest expense was $21.8 million compared to 2006 net interest expense of $20.3 million due to the full quarter impact of the additional debt associated with the FHS acquisition in the first quarter of 2006, and the impact of higher interest rates.

"Our results for the first quarter demonstrate our continued strong operating performance in a difficult automotive environment," said Jim McElya, chairman and CEO, "and we again produced solid operating margins and de- levered the business further, indicating that our emphasis on operational excellence and cash generation is working. We remain confident that our strategies to offset the challenging conditions within the industry are effective and will continue to provide value to our stakeholders."

  Highlights of the First Quarter 2007

   -- Key Launches:  Some of the new products and programs the company
      launched during the first quarter 2007 included:

       -- Audi (A4)
       -- Ford (Escape, F-250 Super Duty, Mariner and Mondeo)
       -- General Motors (Chevy Silverado and GMC Sierra)
       -- Renault (Second generation Twingo)

   -- Awards & Recognitions:

       -- Toyota Certificate of Achievement for Quality
       -- Selected by Toyota to join the Bluegrass Automotive Manufacturing
          Association (BAMA)

   -- New Business Awards: During first quarter 2007, the Company was
      awarded business of $74.8 million in new, replacement, or conquest
      business.

   -- Acquisitions:

       -- Completed the purchase of Automotive Components Holdings, LLC
          (ACH) El Jarudo fuel rail operations in Juarez, Mexico on
          March 31, 2007.

   -- Significant Financial Accomplishments:

       -- Sustained strong Adjusted EBITDA margins (11.4%)
       -- Continued cash generation from operations ($42.3 million)
       -- Debt repayments of $20.4 million ($17 million voluntarily)
       -- Cash purchase of ACH El Jarudo fuel rail operations

 
                                               Three Months Ended March 31,
                                                       (in millions)
                                                     2006              2007
         Net income                                  $5.5              $4.7
         Provision for income tax expense             2.4               4.8
         Interest expense, net of
          interest income                            20.3              21.8
         Depreciation and amortization               32.4              29.9
             EBITDA                                 $60.6             $61.2
         Restructuring                                2.2               4.7
         Foreign exchange loss (1)                    0.1              (0.3)
         Inventory write-up(2)                        2.1               -
                                                    $65.0             $65.6

         (1) Unrealized foreign exchanges loss on indebtedness/(gain)
             related to 2004 Acquisition.

         (2) A write-up of inventory to fair value at the date of the
             acquisition.

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. Its primary businesses include Body and Chassis Systems, consisting of sealing, noise, vibration, and harshness control parts, and Fluid Handling Systems, consisting of subsystems and components that direct, control, measure, and transport fluids and vapors throughout a vehicle. Cooper-Standard Automotive Inc. employs more than 16,000 across 62 facilities in 15 countries. For more information, visit the company's Web site at: www.cooperstandard.com.

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