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Standard Products' Directors Authorize Stock Repurchase Program

23 February 1999

Standard Products' Directors Authorize Stock Repurchase Program

    DEARBORN, Mich., Feb. 22 -- The Standard Products Company
announced today that its Board of Directors has authorized the
repurchase of up to 5 percent of the Company's outstanding common shares over
the next three years.
    Standard Products had announced the completion of a similar stock buyback
program in October 1998, having purchased 843,6000 shares, equal to 5 percent
of its outstanding stock.
    The Company said that, like the previous repurchase program, shares would
be purchased on the open market from time to time when conditions warrant.  At
February 19, 1999, the Company had 16,078,842 common shares outstanding.
    "We are committed to our long-term strategy of growth by capitalizing on
internal development and external opportunities," explained Ronald L.
Roudebush, vice chairman and chief executive officer.  "At the same time, we
intend to take advantage of nearer-term opportunities to maximize shareholder
value."
    Standard Products manufactures sealing, trim and vibration control systems
for the automotive original equipment industry in North and South America and
Europe.  Its Holm Industries subsidiary produces seals for residential and
commercial appliances, doors and windows.  Its Oliver Rubber subsidiary
manufactures tread rubber and equipment for the retread industry.  Information
regarding this release can be found on Standard Products Internet Website at
http://www.standardproducts.com.