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American Axle & Manufacturing Closes on Receivables

31 March 1999

American Axle & Manufacturing Closes on Receivables And Sale/Leaseback Transactions

    DETROIT, March 31 -- American Axle & Manufacturing Holdings,
Inc. announces the closing of the resyndication of a revolving
receivables facility by AAM Receivables Corp., its indirect wholly owned
subsidiary.  In addition, this facility has been expanded from $125 million to
$153 million.
    American Axle & Manufacturing Holdings, Inc. also announces the closing of
a sale/leaseback transaction, involving approximately $49 million of machinery
and equipment.
    AAM is a world leader in the design, engineering and manufacture of
driveline systems, chassis systems and forged products for trucks, buses,
sport utility vehicles, and passenger cars.  It is headquartered in Detroit,
Michigan.  In addition to six locations in the United States (in Michigan and
New York), AAM has offices and facilities in Japan (Tokyo); Great Britain
(Lancashire); Germany (Ulm); and Scotland (Glasgow) and it is currently
constructing a manufacturing facility and business office in Mexico
(Guanajuato).
    Certain statements contained in this press release which are not
historical facts contain forward-looking information with respect to the
Company's plans, projections or future performance, the occurrence of which
involve risks and uncertainties that could cause the Company's actual results
or plans to differ materially from those expected by the Company which include
risk factors described in the Company's prospectus dated January 28, 1999 and
filed with the Securities and Exchange Commission.