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Tower Automotive Buys IMAR and OSLAMT

7 July 1998

Tower Automotive, Inc. Completes Acquisition of IMAR, s.r.l. and OSLAMT S.p.A.

    MINNEAPOLIS, July 6 -- Tower Automotive, Inc. ,
today announced that it has completed the acquisition of IMAR, s.r.l. (IMAR),
headquartered in Caserta, near Naples, Italy, and OSLAMT S.p.A. (OSLAMT),
headquartered in Turin, Italy.
    IMAR has manufacturing facilities in Caserta and Melfi, Italy, with annual
revenues of approximately $55 million.  IMAR designs and manufactures
structural parts and assemblies for the automotive market.  IMAR's primary
customer is Fiat.  OSLAMT has a manufacturing facility in Turin, with annual
revenues of approximately $10 million.  OSLAMT designs and manufactures tools
and assemblies for the automotive market.
    Tower Automotive President and Chief Executive Officer Dugald K. Campbell
said, "The acquisitions of IMAR and OSLAMT are an important step in expanding
our European base and in solidifying our position with Fiat.  IMAR has an
excellent management team with strong manufacturing capabilities in their two
plants with are located near Fiat's assembly operation, and OSLAMT allows us
to strengthen our European technical center in Beinasco, Italy."
    Tower Automotive, Inc. produces a broad range of stamped and welded
assemblies for vehicle body structures and suspension systems for automotive
manufacturers, including Ford, Chrysler, General Motors, Honda, Toyota,
Nissan, Mazda, Fiat and BMW, Volkswagen and Mercedes.  Products include body
structural assemblies such as pillars and package trays, control arms,
suspension links, engine cradles and full frame assemblies.  The company has
its operating headquarters in Grand Rapids, Mich. and a corporate office in
Minneapolis, Minn.