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Dana Board Promotes Joseph Magliochetti to Chief Executive Officer

8 February 1999

Dana Board Promotes Joseph Magliochetti to Chief Executive Officer

    TOLEDO, Ohio, Feb. 8 -- The Board of Directors of Dana
Corporation today announced the promotion of Joseph Magliochetti
to the position of president and chief executive officer of the company,
effective immediately.  Magliochetti, a 32-year Dana veteran, most recently
had been president and chief operating officer of the company.
    Southwood J. Morcott will continue as Dana's chairman of the board, a
position he has held since 1990.
    Morcott said, "This change is a result of Dana's focused growth over the
last year and the success of our organization by Strategic Business Units,
which serve as our principal operating units.
    "To have a separate chairman and CEO is becoming more common in our
industry.  We evolved Dana's organization around Strategic Business Units
about 18 months ago.  Likewise, this move is a natural evolution for our
company.  It complements our existing organization, and it allows the
president and CEO to place greater emphasis on growth and the strategic
integration of new operations," he added.
    Magliochetti, in commenting on the announcement, said, "Dana has grown
significantly in the last year.  We began 1998 as a company with 49,000 people
generating sales of $8.3 billion.  We begin 1999 with 86,000 people expecting
sales of more than $13 billion.  This organization allows us to execute our
strategic plan with an increased emphasis on exceeding customer expectations
and improving shareholder value."
    Magliochetti joined the Victor Manufacturing Company of Chicago in 1966.
Following Dana's acquisition of Victor in 1967, he served in a variety of
sales, engineering, and manufacturing positions at several divisions.  In
1978, he was promoted to general manager of the Spicer Clutch Division.  He
was appointed president of Dana Europe in 1980 and lived in London for five
years, heading the company's operations in Europe and the Middle East.
    In 1985, Magliochetti returned to the United States as a group vice
president of North American Operations.  He was named president of Automotive
- North American Operations in 1990 and president of North American operations
in 1992.  He was promoted to president of Dana in 1996 and elected to its
board of directors later that year.  He was named president and chief
operating officer in 1997.
    Magliochetti was educated at the University of Illinois.  He has completed
the Harvard Advanced Management Program and the Hillsdale College Management
Development Program.
    One of the world's largest independent suppliers to vehicle manufacturers
and the aftermarket, Dana Corporation produces components and systems used on
more than 95 percent of the world's 700 million motor vehicles.  Founded in
1904 and based in Toledo, Ohio, the company operates some 330 major facilities
in 32 countries and employs more than 86,000 people.  The company reported
sales of $12.5 billion in 1998.  Dana's Internet address is http://www.dana.com.