Cooper-Standard Automotive Obtains Interim Approval of Debtor in Possession Financing

- May Immediately Access Up to $50 Million in Debtor-in-Possession Financing in the U.S. and Canada, of $175 Million Facility - All "First Day" Motions Approved - Employees Will Continue to be Paid as Normal - Operations Continue Without Interruption; No Impact on Customers

NOVI, Mich., Aug. 6 -- Cooper-Standard Holdings Inc., the parent company of Cooper-Standard Automotive Inc., announced today that the Company and its subsidiaries in the U.S. and Canada received interim court approval of their $175 million debtor in possession financing.

Judge Peter J. Walsh of the U.S. Bankruptcy Court in Wilmington, Del. and Justice Lederman of the Ontario Superior Court of Justice in Toronto, Ontario, Canada granted the Company interim authority to access up to $50 million in debtor-in-possession financing in the U.S. and Canada. The Company will use the financing, along with its current cash balance and future cash flow, to pay normal operating expenses and formulate and implement a restructuring plan.

Additionally, Judge Walsh granted the Company first day relief, including authority to pay employee wages and benefits as usual.

Under the Canadian filing, the Company was granted authority to continue paying trade vendors in the ordinary course.

"The relief granted today ensures Cooper-Standard can continue to serve all customers without delay as the Company takes decisive steps to restructure its balance sheet," said James S. McElya, Chairman and Chief Executive Officer of Cooper-Standard. "Cooper-Standard's employees will continue to receive salary and benefits, suppliers will be paid on time during the bankruptcy case, and shipments will be delivered as expected."

"Perhaps most important, the Company's commitment to operational excellence will not be compromised," McElya added. "Cooper-Standard will continue to be a leader in innovation and technology in the automotive industry."

Cooper-Standard and its U.S. subsidiaries filed voluntary petitions to effectuate a balance sheet restructuring under Chapter 11 of the U.S. Bankruptcy Code in the U.S. Bankruptcy Court in Wilmington, Del. on August 3, 2009. The Company's Canadian subsidiary, Cooper-Standard Automotive Canada Limited, on August 4, 2009 sought relief under the Companies' Creditors Arrangement Act in the Ontario Superior Court of Justice in Toronto, Ontario, Canada.

As previously announced, Cooper-Standard has been engaged in negotiations with its lenders and other constituents regarding a consensual restructuring plan. Under the most recent proposal supported by holders of a majority of the Company's senior secured debt, the Company's balance sheet would be significantly deleveraged, as the Company would reduce its approximately $1.1 billion of bank and bond indebtedness to approximately $350 million. In addition, the lenders' proposal contemplates an exit financing facility of $100 million to $150 million.

More information about the Company's restructuring is available at www.cooperstandard.com. Additionally, the Company has set up a toll-free restructuring hotline at 888-329-3159.

About Cooper-Standard Automotive

Cooper-Standard Automotive Inc., headquartered in Novi, Mich., is a leading global automotive supplier specializing in the manufacture and marketing of systems and components for the automotive industry. Products include body sealing systems, fluid handling systems and NVH control systems, which are represented within the company's two operating divisions: North America and International. Cooper-Standard Automotive employs approximately 16,000 people globally with more than 70 facilities throughout the world. For more information, visit the company's Web site at: www.cooperstandard.com.

This news release includes forward-looking statements, reflecting current analysis and expectations, based on what are believed to be reasonable assumptions. Forward-looking statements may involve known and unknown risks, uncertainties and other factors, which may cause the actual results to differ materially from those projected, stated or implied, depending on many factors, including, without limitation: the effects of the chapter 11 cases on the company; risks and uncertainties relating to approval by the Bankruptcy Court and the Canadian Court of the DIP financing; the ability to obtain court approval of motions in the chapter 11 proceedings from time to time; the ability to maintain contracts and suppliers and customer relationships; the ability to obtain exit financing; the ability of the company to develop, prosecute, confirm and consummate one or more plans of reorganization and to consummate the transactions contemplated thereby ; limitations on flexibility in operating business contained in the company's debt agreements; the company's dependence on the automotive industry; availability and cost of raw materials; the company's dependence on certain major customers; competition in the industry; sovereign and other risks related to the company conducting operations outside the United States; the uncertainty of the company's ability to achieve expected cost reduction savings; the company's exposure to product liability and warranty claims; labor conditions; the company's vulnerability to rising interest rates; the company's ability to meet customers' needs for new and improved products in a timely manner; the company's ability to attract and retain key personnel; potential conflicts of interests between owners and the company; the company's recent status as a stand-alone company; the company's legal rights to its intellectual property portfolio; the company's underfunded pension plans; environmental and other regulations; and the possibility that the company's acquisition strategy will not be successful. There may be other factors that may cause the company's actual results to differ materially from the forward-looking statement. Accordingly, there can be no assurance that Cooper-Standard Automotive will meet future results, performance or achievements expressed or implied by such forward-looking statements. This paragraph is included to provide safe harbor for forward-looking statements, which are not generally required to be publicly revised as circumstances change, and which Cooper-Standard Automotive does not intend to update.