The Auto Channel
The Largest Independent Automotive Research Resource
The Largest Independent Automotive Research Resource
Official Website of the New Car Buyer

Gentex Reports Expected Q3 Income

28 August 1998

Gentex Cites Impact of GM Strikes On Third Quarter, Expects Stronger Fourth Quarter, and Authorizes Share Repurchase Program
    ZEELAND, Mich., Aug. 27 -- Gentex Corporation ,
the Zeeland, Michigan-based manufacturer of automatic-dimming rearview mirrors
and commercial fire protection products, today reported that it expects the
impact of the General Motors strikes to be a reduction of approximately 3
cents per share for the third quarter ended September 30, 1998.  The Company
also expects growth in unit shipments of its automatic-dimming rearview
mirrors in the fourth quarter to be 25-30 percent compared with the fourth
quarter of 1997, and current street expectations for fourth quarter unit
shipment growth of approximately 10-15 percent.
    In addition, the Company has authorized a share repurchase program over
the next twelve months.
    Under the share repurchase program, the Company may, from time to time,
purchase up to two million shares of its common stock based on a number of
factors, including market conditions, the market price of the Company's common
stock, anti-dilutive effect on earnings, available cash and other factors as
the Company deems appropriate.
    "The long-term, solid fundamentals of Gentex have not changed, and we
believe that the recent decline in the Company's stock price does not properly
reflect those fundamentals," said Gentex Executive Vice President Kenneth La
Grand.  "This buyback program signifies our confidence in the long-term
prospects for the Company."
    La Grand said that the anticipated strength in the fourth quarter is
primarily attributable to new automotive mirror business and the shift of some
General Motors units from the third to the fourth quarter, as GM attempts to
make up some of the units it lost in the third quarter as a result of the
United Auto Workers strikes.
    Certain matters discussed in this news release are "forward-looking
statements" which involve certain risks and uncertainties, and are subject to
change based on various market, industry and other important factors.  The
Company cautions investors that numerous factors (as outlined in the Company's
Form 10-K filed with the Securities and Exchange Commission and other interim
reports) in some cases may affect in the future the Company's actual results,
and may cause those results to differ materially from those expressed in this
news release.
    Gentex Corporation is an international company that provides high-quality
products to the worldwide automotive industry and North American fire
protection market.  The Company develops, manufactures and markets proprietary
electro-optic products, including interior and exterior electrochromic,
automatic-dimming Night Vision Safety(TM) (NVS(R)) automotive rearview mirrors
that dim in proportion to the amount of headlight glare from trailing vehicle
headlamps, and an extensive line of fire protection products for commercial
applications.  Revenues from the sale of automatic-dimming mirrors represent
about 90 percent of total Company revenues.
    Gentex was the first company in the world to successfully develop and
produce a commercial electrochromic mirror for the motor vehicle industry.
The Company is the leading supplier of these mirrors to the worldwide
automotive industry.  Gentex customers include Audi, Bentley, BMW, Chrysler,
Daewoo, Fiat, Ford, General Motors, Gulf States Toyota, Honda, Hyundai,
Infiniti, Kia Motors, Lexus, Mercedes-Benz, Mitsubishi, Nissan, Opel, Porsche,
Rolls Royce, Southeast Toyota Distributors and Toyota.
    Founded in 1974, Gentex operates out of three facilities in Zeeland,
Michigan; an automotive sales and marketing office in Livonia, Michigan;
automotive sales and engineering subsidiaries in Germany and Japan; and five
regional U.S. sales offices for the Fire Protection Products Group.  The
Company is recognized for its quality products, its application of world class
manufacturing principles, for its commitment to developing and maintaining a
highly skilled workforce, and for encouraging employee ownership of the
Company's stock.