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Hayes Lemmerz Reports Record Earnings in 1998

4 March 1999

Hayes Lemmerz Reports Record Earnings in 1998 Despite Lower Fourth Quarter Results

    ROMULUS, Mich., March 4 -- Hayes Lemmerz International, Inc.
, today announced that 1998 fourth quarter diluted earnings per
share were 31 cents, as compared to pro forma diluted earnings per share of
31 cents in the fourth quarter of 1997.  This compares to the First Call
consensus of 56 cents per share.  For full year 1998, earnings per share were
$1.60, before the effects of extraordinary charges, which is 90% higher than
1997 pro forma earnings per share of 84 cents.  The fourth quarter earnings
were adversely affected by the economic turmoil in developing markets,
primarily Brazil, and equipment downtime issues in the steel wheel business in
North America.
    "Overall, 1998 was a record year for Hayes Lemmerz that resulted in
dramatic profit improvement and a near doubling of earnings over 1997," said
Ron Cucuz, Chairman and C.E.O.  "We were able to post these strong results
despite the downturn in developing markets, a production issue in our North
American steel wheel business and the impact of the General Motors strike in
the second quarter.  We have taken actions to reduce costs and increase
exports in Brazil.  We have also implemented the necessary steps to correct
the equipment downtime issue in our steel wheel business and expect to see
steady improvement throughout 1999.  We remain confident that both 1999 and
2000 will continue to show significant sales and earnings growth."
    "The 1998 profit growth was driven by strong results in all of our
European businesses, and the positive impact of cost reduction programs,
especially in our brake business and our North American and European aluminum
wheel businesses," said Mr. Cucuz.  "We also saw continued market share gains
across all of our businesses.  Now with the CMI acquisition, we have expanded
our aluminum product line and gained suspension module capabilities.  Coupled
with the impacts of continued cost reductions, we remain extremely confident
that we will continue to deliver strong results in the future."
    The Hayes Lemmerz International, Inc. fourth quarter earnings release
conference call is scheduled for 11:00 a.m. (E.S.T.) on Wednesday, March 10,
1999, to review the fourth quarter and full year financial results, as well as
the outlook for the company.
    Hayes Lemmerz International Inc., with the completion of its acquisition
of CMI International, is one of the world's leading global suppliers of
automotive and commercial highway wheels, brakes, suspension, structural and
other light weight components.  Together, the company has pro forma sales of
close to $2.5 billion with 36 plants, eleven joint ventures and over 15,000
employees worldwide.
    For more information about Hayes Lemmerz International, please be sure to
visit the web site at http://www.hayes-lemmerz.com.