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Continental Teves Receives Role Model Award From DaimlerChrysler

15 December 1998

Continental Teves Receives Role Model Award From DaimlerChrysler For Extended Enterprise(TM)

    AUBURN HILLS, Mich., Dec. 14 -- Continental Teves has
received its second prestigious Chrysler Role Model Award.  The award
recognizes Continental Teves for significantly advancing Chrysler's Extended
Enterprise(TM) program and driving continuous improvement through its supplier
partners.  About 11,000 suppliers are eligible for these notable awards.
Continental Teves, formerly ITT Automotive, received the first-ever Role Model
Award for supplier relations in 1995.
    Continental Teves was recognized in conjunction with two other Chrysler
suppliers in the Extended Enterprise(TM) category for reducing variations.
Continental Teves merited the award by continuously improving cost and quality
performance, efficiently managing supply chain relations and integrating Tier
II and III suppliers into Chrysler's development process.  That effort has
resulted in a significant reduction in manufacturing process variation
throughout the Extended Enterprise(TM) and contributed to brake warranty
reduction.
    "Continental Teves is pleased to receive this second Role Model Award and
our employees are proud that they are adding value for Chrysler and our
supplier partners as well as for consumers," said William Kozyra, President,
Continental Teves, North America.
    Chrysler and Continental Teves have worked closely together to design and
produce superior brake and chassis systems while continuously improving cost,
quality and performance.  Continental Teves is one of Chrysler's leading
suppliers of four-wheel anti-lock brakes and related chassis systems.
    The award is the second honor from Chrysler that Continental Teves has
received in recent months.  In August, Continental Teves was recognized for
being the largest contributor of cost savings under Chrysler's Supplier Cost
Reduction Effort (SCORE) program for the 1998 model year.  As part of the
growing partnership between the two companies, Continental Teves has generated
more than $150 million in SCORE cost savings over the last four years.
    Continental Teves, based in Auburn Hills, is a unit of the Continental
Automotive Systems division of Continental AG.  Continental Teves is a leading
supplier of brake and electronic chassis systems for the global automotive
industry, and Continental AG is the world's fourth largest tire manufacturer.