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Lear Details Previously Announced Restructuring Plan

7 December 1998

Lear Details Previously Announced Restructuring Plan

    SOUTHFIELD, Mich., Dec. 7 -- Lear Corporation
disclosed today the details of the Company's restructuring plan that was
previously announced in October.  Implementation of the plan will result in
one-time pre-tax restructuring and other charges of approximately $133
million, or $1.37 per share in the fourth quarter of 1998.  The cash portion
of the charge is estimated at approximately $85 million.
    The planned restructuring is designed to significantly reduce future
operating costs primarily through the closure and or consolidation of 18
manufacturing facilities and the reduction of approximately 2,800 employees,
or four percent of the Company's workforce.  Associated with the restructuring
program, the Company has targeted annual cost savings exceeding $40 million
commencing in the year 2000.
    Of the 18 closures, 15 are located in Europe, two are in North America and
one is in South America.  In terms of the employee reductions, about 1,700
will occur in Europe and about 1,100 will occur in North America.  It is
anticipated that the restructuring activities will be completed by the year
2000.
    Commenting on the restructuring, Kenneth L. Way, Chairman and Chief
Executive Officer of Lear Corporation stated, "As previously announced, we are
implementing this restructuring plan to lower our cost structure and improve
our long-term competitive position.  While the actions we are taking are
difficult, we believe these steps are consistent with our strategy of
improving value for our customers as well as putting us back on track to
achieving 15 percent earnings per share growth annually."
    A Fortune 500 Company, Lear Corporation is one of the world's largest
automotive suppliers, with 1997 sales of $7.3 billion.  The Company's world
class products are designed, engineered and manufactured in 28 countries.
Information about Lear and its products is available on the Internet at
http://www.lear.com.
    This news release contains forward-looking statements within the meaning
of the Private Securities Litigation Reform Act of 1995.  Actual results may
differ materially from the anticipated results as a result of certain risks
and uncertainties, including but not limited to general economic conditions in
the markets in which Lear operates, fluctuations in the production of vehicles
for which the Company is a supplier, labor disputes involving the Company or
its significant customers, risks associated with conducting business in
foreign countries and other risks detailed from time to time in the Company's
Securities and Exchange Commission filings.