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Standard Products Announces Management Changes

24 November 1998

Standard Products Announces Management Changes to Increase Organizational Effectiveness and Customer Focus

    DEARBORN, Mich., Nov. 24 -- The Standard Products Company
announced a series of management changes designed to enhance
customer focus, improve new model launches and increase organizational
effectiveness.  The changes include the segmentation of the Company's North
American automotive business into three strategic business units and the
creation of new senior executive positions responsible for program management
and for research and advanced technology.
    "We are segmenting our North American automotive business into strategic
business units focused on sealing systems, vibration control components, and
exterior ornamentation," said Ronald L. Roudebush, vice chairman and chief
executive officer.  "By assigning responsibility and accountability for each
of these product lines to individual senior managers we expect to enhance our
customer focus and increase the growth potential and profitability of each
segment."
    He continued, "Program management encompasses responsibility for customer
interface on new vehicle programs.  By assigning this cross-functional
responsibility to an executive vice president of the Company, we are
demonstrating our commitment to improve our performance on new model launches
and to elevate this capability as a differentiator in the eyes of our
customers.  Similarly, the appointment of an executive vice president of
research and advanced technology is intended to help differentiate us from the
competition and enhance our value to customers."
    The management changes include the following appointments:

    *  Franklin T. Burnside is named president, North American Sealing
       Systems, with responsibility for the Company's automotive sealing
       business in the U.S., Canada and Mexico.  Burnside was previously
       president and general manager of Standard Products (Canada) Limited.
    *  Ted M. McQuade, an executive vice president of the Company, is assuming
       direction of the Company's Program Management effort, with overall
       responsibility for all vehicle launches in North America.  In addition,
       he will have responsibility for the vibration control component product
       line, also known as the NVH (noise, vibration and harshness) business,
       on a Company-wide basis.  He previously headed North American
       Automotive Operations.
    *  John Marshall, who recently joined Standard Products as vice president,
       business development and marketing, will have added responsibility for
       exterior vehicle ornamentation, which is primarily plastic bodyside
       molding and trim.  This is currently a North American operation, but
       Marshall will analyze opportunities to expand the business.
    *  James F. Keys is named executive vice president, research and advanced
       technology.  His responsibilities will encompass technology development
       in processes, materials, and new products across the business units of
       the Company.  The Standard Products Manufacturing and Technology
       Division, which develops proprietary process equipment for the Company,
       will report to Keys.  Keys was previously executive vice president,
       international operations, based in the United Kingdom.  He will
       relocate to corporate headquarters in Dearborn.

    "We made these management changes following an in-depth review of our
organizational needs, the needs of our customers, and the strengths of the
individuals on our management team," said Theodore K. Zampetis, president and
chief operating officer.  "We believe the changes will increase our overall
effectiveness and make the Company more responsive to our customers and to the
increasing demands which automotive component manufacturers must meet."
    "We have always had a strong program management philosophy in our
Company," Roudebush added, "and we have made significant progress managing
launches in recent years.  Although new programs will always be a major
challenge in the sealing systems business, by elevating this focus in our
organization we believe we can accomplish virtually transparent launches for
our customers and for Standard Products."
    The Company said that its Holm Industries and Oliver Rubber subsidiaries
and its European business units were not affected by these changes.
    Certain statements in this press release constitute "forward-looking
statements" as that term is defined under the Private Securities Litigation
Reform Act of 1995.  The achievement of the expectations and projections set
forth is subject to certain general risks and uncertainties, including
economic and industry conditions that affect all international businesses, as
well as specific risks, including but not limited to the various factors
contained in the reports filed by the Company with the Securities and Exchange
Commission.
    Standard Products produces highly engineered polymer-based products and
systems on a global basis for the automotive, appliance and construction
industries.  More information may be found on the Internet at
http://www.standardproducts.com.