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Dura Announces Completion of Senior Subordinated Notes Offering

23 April 1999

Dura Automotive Systems, Inc., Announces Completion of Senior Subordinated Notes Offering

    MINNEAPOLIS, April 23 -- Dura Automotive Systems, Inc.
, today announced that its principal operating subsidiary, Dura
Operating Corp., has completed an offering of $300 million and Euro 100
million of senior subordinated notes to qualified institutional buyers in a
private placement pursuant to Rule 144A under the Securities Act of 1933, as
amended (the "Securities Act").  The notes bear interest at 9 percent per year
and mature in May 2009.  NationsBanc Montgomery Securities LLC acted as lead
manager and Donaldson, Lufkin & Jenrette served as co-manager.
    The net proceeds from the offering will be used by the company to repay a
portion of the indebtedness outstanding under its new credit facility incurred
to fund the acquisitions of Adwest Automotive Plc and Excel Industries, Inc.,
as well as for general corporate purposes.
    Dura Automotive Systems, Inc., is a leading designer and manufacturer of
driver control systems, engineered mechanisms and cable-related systems for
the global automotive industry.  The company's products include parking brake
systems, automotive cables, transmission shifter systems, latches, underbody
tire carriers, jacks, brake, clutch and accelerator pedals and other
mechanical assemblies.  The company's products are sold to major North
American original equipment manufacturers (OEMs), including Ford, General
Motors and DaimlerChrysler, as well as Japanese OEMs, including Toyota and
Honda.  The company's European and Latin American facilities support Ford, GM,
Volkswagen, Mercedes, BMW, PSA (Peugeot and Citroen) and various other OEMs.
Dura's operating headquarters is in Rochester Hills, Mich., and its corporate
office is in Minneapolis, Minn.