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Tower Automotive Partners with Stern Stewart & Co.

30 April 1999

Tower Automotive Partners with Stern Stewart & Co., to Establish E.V.A. Framework

 Global Supplier of Choice Affirms Commitment to Shareholder Value With Move

    MINNEAPOLIS, April 30 -- In a strong affirmation of its
commitment to shareholders, Tower Automotive, Inc. , today
announced that it has engaged Stern Stewart & Co., a New York-based consulting
firm, to assist Tower Automotive in further implementation of the Economic
Value Added (EVA) system throughout the company.
    "We are committed to being the global supplier of choice, and that
commitment must produce value for our shareholders," said Dugald K. Campbell,
president and chief operating officer of Tower Automotive.  "Our partnership
with Stern Stewart and commitment to the EVA process is a way of assuring that
our shareholders receive the value they expect from their investment in Tower
Automotive.  EVA is an excellent tool to support our disciplined global
acquisition strategy.  We also see it as the best way to continue to advance
business literacy within the enterprise so that all 9,000 colleagues are
better equipped to handle our continued rapid growth as the global supplier of
choice."
    Tower Automotive's Leadership Team believes that EVA is the financial
performance measure that comes closer than any other to capturing the true
economic profit of an enterprise.  EVA also is the performance measure most
directly linked to the creation of shareholder wealth over time.  Stern
Stewart & Co., guides client companies through the implementation of a
complete EVA-based financial management and incentive compensation system that
gives leaders superior information -- and superior motivation -- to make
decisions that will maximize shareholder wealth.
    Two new stock-market studies -- one by academic researchers and one by
Stern Stewart -- have found that the firm's EVA clients enjoy substantially
higher returns to shareholders than their competitors.  The studies compare
total returns to shareholders with those of companies in the same industries
for three and five years from the time companies began to adopt EVA.
    Tower Automotive, Inc., with 1998 revenues approaching $2 billion,
produces a broad range of vehicle structure and suspension systems for
automotive and commercial truck manufacturers.  Products include a wide
variety of body structural assemblies, control arms, suspension links, engine
cradles, frame rails, full frame assemblies and modules.  The company is based
in Grand Rapids, Mich., and has its corporate office in Minneapolis, Minn.
Tower Automotive operates 40 facilities in eight countries around the globe.
Tower Automotive's web address is http//www.towerautomotive.com