Meritor Automotive Begins Operations as an Independent, Publicly-Held Company

1 October 1997
Meritor Automotive Begins Operations as an Independent, Publicly-Held Company

    TROY, Mich., Oct. 1 -- Meritor Automotive, Inc., ,
the new $3.1 billion company that now owns Rockwell International
Corporation's Automotive business, today begins operations as an independent,
separately-traded, publicly-held company.
    This event marks the completion of the spinoff of Meritor from Rockwell,
its former parent company.  In the spinoff, all Rockwell shareowners received
one share of Meritor common stock for every three shares of Rockwell common
stock owned on September 17, 1997.
    Meritor today begins its first day of regular way trading on the New York
Stock Exchange under the trading symbol "MRA."  The stock has been trading on
a "when issued" basis since September 15.
    "This is a very important milestone for our company and for the industry,"
said Larry D. Yost, chairman and chief executive officer of Meritor
Automotive, Inc.  "We are in an excellent position to grow Meritor's leading
market positions in our core businesses worldwide."
    Meritor joins the Fortune 500(R) list of companies and has also been named
to the Standard & Poor's MidCap 400 Index.
    "Our mission is clear.  We are committed to be the best provider of
automotive systems and technology solutions to customers who value exceptional
service.  Meritor is set to unleash its full potential combining today's
enthusiasm with a well-earned reputation for unmatched service.  Meritor is
dedicated to continuous improvement as a well-managed business -- one with a
strong emphasis on new product development and the capabilities to quickly
meet market-driven customer needs," Yost added.
    He noted, "Rockwell provided us with our proud heritage and built us into
the global leadership business we are today.  From that solid foundation,
Meritor is exceptionally well-positioned to compete effectively in global
markets."
    Meritor's Automotive business, with 1996 sales of approximately
$3.1 billion, is a world-leading supplier of a broad range of components and
systems for commercial, specialty and light vehicles.  Meritor's Automotive
business consists of two global businesses:  Heavy Vehicle Systems, a leading
supplier of drivetrain systems and components for medium- and heavy-duty
trucks, trailers and off-highway equipment and specialty vehicles including
military, bus and coach, and fire and rescue; and Light Vehicle Systems, a
major supplier of roof, door, access control and seat adjusting systems,
electric motors and electronic controls, suspension systems and wheels for
passenger cars, light trucks and sport utility vehicles.
    For more information, visit the Meritor website at
 http://www.meritorauto.com

SOURCE  Meritor Automotive, Inc.