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Standard Products Adopts Shareholder Rights Plan

27 January 1999

Standard Products Adopts Shareholder Rights Plan

    DEARBORN, Mich., Jan. 26 -- The Standard Products Company
today announced that its Board of Directors has adopted a
Shareholder Rights Plan in order to protect the interests of its shareholders
in the event of an unsolicited attempt to acquire the outstanding common
shares of the Company.  Standard Products emphasized that adoption of the
Rights Plan is not in response to any acquisition proposal, nor is the Company
aware of any such proposal.
    To implement the Plan, the Board has declared a distribution of one Right
for each of the Company's outstanding Common Shares.  Each Right entitles the
holder to purchase from the Company one one-thousandth of a Series A Non-
Voting Serial Preferred Share at a purchase price of $100.00 per right,
subject to adjustment.  One one-thousandth of a Preferred Share is intended to
be approximately the economic equivalent of one Common Share.  The dividend
distribution will be made on February 16, 1999, payable to shareholders of
record on that date.
    The Rights will become exercisable, be distributed to shareholders and
begin to trade separately from the Common Shares if a person or group becomes
the beneficial owner of 15 percent or more of the then-outstanding Common
Shares or announces an offer to acquire 15 percent or more of the then-
outstanding Common Shares.  The Board of Directors may redeem the Rights in
whole, but not in part, at a price of $.01 per Right, subject to certain
conditions.  The Rights will expire on January 26, 2009.
    A summary of the Rights Plan will be mailed to all record holders of the
Common Shares following the record date and will be available on the Company's
website, located at http://standardproducts.com, prior to that time.
    The Standard Products Company produces highly engineered polymer-based
products and systems on a global basis for the automotive, appliance and
construction industries.