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Standard Motor Products and Cooper Industries Complete Swap of Businesses

31 March 1998

Standard Motor Products and Cooper Industries Complete Swap of Businesses

    NEW YORK, March 31 -- Standard Motor Products, Inc.
announced today that it has completed its previously announced
exchange of the brake business of Standard Motor Products for the Moog
Automotive temperature control business of Cooper Industries .  The
two businesses produced 1997 revenues of approximately $160 million and
$123 million respectively.  The brake business of Standard Motor Products
includes a line of hydraulic and friction products, drums and rotors and
hardware distributed under the EIS, Cali-Blok, Traffic King, TruTech and
private label brand names.  The temperature control business of Moog
Automotive includes heating and cooling system parts and electric motors
distributed under the Everco, Murray, Frostemp, Automotive Components and
private label brand names.  Terms of the transaction were not disclosed.
    Mr. Lawrence Sills, President said, "Our due diligence confirmed this is a
win-win situation for both parties.  Standard Motor Products will now be able
to achieve higher levels of customer service, growth and profitability in its
temperate control business.  Now that the swap is complete, we can focus our
attention on achieving the significant levels of operating and marketing
efficiencies from the combination of our expanded temperature control
business.  This transaction ties in directly with our focus on improving
economic value added (EVA) and enhancing shareholder value."
    Standard Motor Products, Inc. is a manufacturer and distributor of
automotive replacement parts in North America and Europe.

SOURCE  Standard Motor Products, Inc.