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Bank of America Completes Financing for Dura Operating Corp.

24 March 1999

Bank of America Completes Financing for Dura Operating Corp.

    CHICAGO, March 23 -- Bank of America today completed
$1.15 billion in senior credit facilities for Dura Operating Corp., a
subsidiary of Dura Automotive Systems, Inc. (DRRA), a Rochester Hills,
Mich.-based designer and manufacturer of driver control systems, engineered
mechanical components and cable-related systems for the global automotive
industry.
    NationsBanc Montgomery Securities LLC served as Sole Lead Arranger and
Book Manager and Bank of America's Automotive Group served as Administrative
Agent on the facilities, proceeds of which were used to finance the
acquisitions of Excel Industries, Inc. (EXC) and Adwest Automotive Plc.  Excel
is a leading supplier of mechanical components and systems, modular doors and
a variety of window assemblies.  Adwest is a top European supplier of driver
and engine control products.  The facilities were also used to refinance
existing debt and will provide for working capital and other general corporate
purposes, including permitted acquisitions.
    Bank of America's Automotive Group is a leading provider of specialized
financial solutions to companies in the automotive manufacturing and supply
industries, focusing on capital raising and financial advisory services.
    NationsBanc Montgomery Securities LLC, a subsidiary of Bank of America
Corp., is a full-service investment bank and brokerage firm with approximately
$2.7 billion of regulatory capital.  The company provides research, trading
and issuance in the equity and fixed-income markets (high-yield, emerging,
high-grade and mortgage-backed). Other services include M&A advisory,
financial buyer coverage, loan syndications, global investment banking, real
estate finance, mortgage finance, money markets and a primary dealer.
    NationsBanc Montgomery Securities is a registered broker-dealer with the
Securities and Exchange Commission and is a member of the National Association
of Securities Dealers and the New York Stock Exchange.
    Bank of America, with $618 billion in total assets, is the largest bank in
the United States, with full-service consumer and commercial operations in 22
states and the District of Columbia.  Bank of America provides financial
products and services to 30 million households and two million businesses, as
well as international corporate financial services for transactions in 190
countries.  Bank of America stock is listed on the New York,
Pacific and London stock exchanges and certain shares are listed on the Tokyo
Stock Exchange.