---

Joint Venture for Florida Production Engineering, Standard Products

2 March 1999

Florida Production Engineering, Standard Products Announce Memo of Understanding to Jointly Build Innovative Sealing Component

    DETROIT, March 1 -- The Standard Products Company
, Dearborn, Mich., and Florida Production Engineering, Inc.,
Dayton, Ohio, announced today that they have entered into a memorandum of
understanding regarding the formation of a joint venture to manufacture and
bring to market an innovative modular automotive door and glass sealing
system.  This silent sealing movable side glass assembly offers a one-piece
exterior trim surround system that softens a vehicle's interior noise levels,
while substantially reducing part complexity, installation time and assembly
labor.
    "We are proud to be partnering with Standard Products in the creation of
this innovative product," said Ernie Green, founder and president of FPE.
"This will truly be a collaborative effort, with each company involved in the
tasks of process development, manufacturing and marketing."
    Ron Roudebush, vice chairman and chief executive officer at The Standard
Products Company, said that the time is right for a joint venture between the
two well-respected suppliers.  "The collaboration with FPE combines the market
strengths of Standard Products' automotive sealing capabilities and Florida
Production Engineering's molding and coating expertise, both of which are
necessary to successfully introduce the silent sealing daylight opening
module.
    "Each of our companies has earned a reputation for delivering quality to
its customers," Roudebush continued.  "By joining forces, we create a superior
team bent on producing the best modular door glass sealing system in the
industry."
    As designed, the new side glass assembly includes all trim, fastening and
automotive door glazing.  It replaces the current multiple piece assemblies of
separate door top moldings, appliques, glass tracks, weather seals and outer
door belt moldings.  The assembly also reduces weight and regulator torque
while improving vehicle acoustics, craftsmanship, recyclability and theft
deterrence.  The assembly can be provided with a variety of surface finishes
and weather sealing options for automotive styling and function.
    Completion of the joint venture is subject to the negotiation of a
definitive agreement, which the parties expect to complete within 90 days.
    FPE supplies interior and exterior molded and painted plastic products to
original equipment automobile manufacturers and tier one customers through its
five plants in Florida, Ohio and Alabama.  FPE's product lines include:  wheel
trim, door panels, airbag covers, taillight and headlight housings, instrument
panel components and bezels.
    Standard Products produces highly engineered polymer-based products and
systems on a global basis for the automotive, appliance and construction
industries.  Standard Products has 40 locations worldwide.  More information
about the Company can be found on the Internet at
http://www.standardproducts.com.