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Standard Products Increases Quarterly Dividend To $.18 Per Share

9 December 1998

Standard Products Increases Quarterly Dividend To $.18 Per Share

    DEARBORN, Mich., Dec. 8 -- Directors of The Standard Products
Co. today voted to increase the quarterly dividend by six percent
to $.18 per share, or $.72 per share on an annualized basis.
    The increased dividend is payable January 22, 1999 to shareholders of
record  January 8, 1999.  Standard Products had been paying $.17 per share
since 1994.
    Ronald L. Roudebush, Standard Products vice chairman and chief executive
officer, called the dividend increase "a solid demonstration of the Board's
and management's confidence in the Company's future."
    Roudebush pointed out that Standard Products has made substantial progress
across a broad spectrum of activities since the beginning of its 1999 fiscal
year in July.  "Emphasis on continuous improvement in our manufacturing
operations continues to strengthen our competitive position," Roudebush
explained.  "In addition, the recently announced realignment of our North
American Operations into separate business units will allow us to create
efficiencies that we expect will result in lower operating costs.  Efforts to
bring about those cost reductions have already begun and will continue for the
remainder of the year.  Finally, we have initiated specific operating changes
to improve our performance on new model launches."
    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.

    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.