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Standard Motor Products Teams with Stern Stewart to Implement Economic Value Added (EVA) Program

14 July 1997

Standard Motor Products Teams with Stern Stewart to Implement Economic Value Added (EVA) Program

    NEW YORK, July 14 -- Standard Motor Products, Inc.
, announced today that it has committed to fully implementing an
Economic Value Added (EVA) financial management system.  The implementation
process has begun, with the initial phase expected to be completed in January
1998.  To assist with the implementation of EVA, Standard Motor Products has
employed Stern Stewart & Co., the New York-based firm which developed the EVA
framework over the past 20 years.
    Larry Sills, president, said, "The Company is committed to increasing
returns to the shareholders of Standard Motor Products, focusing both on
improving operating margins and reducing the assets required to run the
business.  The EVA system will aid in our creating true value added for our
shareholders in the future and will be the guiding measure in our decision
process.  Not only are we implementing the EVA measurement system, but we also
are linking the compensation system directly to improved EVA performance, to
truly align stockholders and employee interests.  EVA will be a new and more
effective way of managing our businesses.  All of our management team will
operate under the system."
    Mr. Sills added, "Stern Stewart & Co. is the pioneer in the EVA concept
and has a proven track record of successfully assisting companies in
application of the EVA framework.  We want to succeed in the implementation
and choose the world leaders in this field to assist us."
    Standard Motor Products, Inc. is a manufacturer and distributor of
automotive replacement parts.

SOURCE  Standard Motor Products, Inc.