Lear Seeks to Amend Credit Facility in Light of Adverse Industry Conditions

SOUTHFIELD, USA – January 7, 2009: Lear Corporation , a leading global supplier of automotive seating systems, electrical distribution systems and electronics products, today announced that it is seeking an amendment and waiver under its primary credit facility in light of current and longer-term industry conditions.

Lear has initiated discussions with co-agents under its primary credit facility and has engaged Goldman Sachs to assist in the proposed bank amendment. The Company will seek to complete the amendment and waiver prior to finalizing its 2008 financial statements.

At the end of the third quarter, Lear had more than $500 million in cash and cash equivalents. During the fourth quarter, the Company fully borrowed amounts available under its revolving credit facility in order to protect against disruptions in the capital markets and to further bolster its liquidity position. As of December 31, 2008, the Company had approximately $1.6 billion in cash and cash equivalents providing more than ample resources to satisfy ordinary course business obligations.

"Our liquidity position is strong," commented Bob Rossiter, Lear chairman, CEO and president. "However, given the very challenging external environment, we are pro-actively addressing our capital structure to maintain our financial flexibility."