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Tower Automotive, Inc. Announces Offering of 5% Convertible Subordinated Notes

29 July 1997

Tower Automotive, Inc. Announces Offering of 5% Convertible Subordinated Notes

    MINNEAPOLIS, July 29 -- Tower Automotive, Inc. ,
announced today that it has completed the sale of $200,000,000 of 5%
Convertible Subordinated Notes (Notes) pursuant to a Rule 144A private
offering.  The Notes are due on August 1, 2004 and are convertible into Tower
Automotive common stock at a conversion price of $51.75 per share.  Proceeds
from the Notes will be used to repay outstanding bank indebtedness.  Neither
the Notes nor the common stock issuable upon the conversion of the Notes have
been registered under the Securities Act of 1933 (the "Act") and may not be
offered or sold in the United States absent registration or an applicable
exemption from the registration requirements of the Act.
    Tower Automotive, Inc. produces a broad range of stamped and welded
assemblies for vehicle body structures and suspension systems for the
automotive manufacturers, including Ford, Chrysler, General Motors, Honda,
Toyota, Nissan, Mazda and Fiat.  Products include body pillars, package trays,
control arms, engine cradles and full frame assemblies.  The Company has its
operating headquarters in Grand Rapids, Mich., and a corporate office in
Minneapolis, Minn.

SOURCE  Tower Automotive, Inc.