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Venture Holdings Trust Announces First Quarter Results

7 May 1999

Venture Holdings Trust Announces First Quarter Results

    FRASER, Mich., May 6 -- Venture Holdings Trust announced
today that consolidated net sales for the quarter ended March 31, 1999, were
$166.0 million, a decrease of $0.6 million, or 0.4% from the first quarter of
1998.  Net sales were relatively flat due primarily to lower tooling sales in
the first quarter of 1999, compared to the first quarter of 1998, offset by
increased component sales.  Income from operations increased $0.5 million to
$18.7 million.  Net income for the first quarter of 1999 was $8.1 million, a
decrease of $1.4 million, or 15.0%, from the first quarter of 1998.
    In March 1999, Venture announced that it had entered into an agreement to
acquire Peguform GmbH, a leading international designer and manufacturer of
complete interior modules, door panels and dash boards; and of exterior
modules and other structural plastic body parts, including bumper fascias and
hatchback doors.  Venture intends to finance a portion of the purchase price
of the acquisition with an offering of $250.0 million of unsecured Senior
Subordinated Notes and $125.0 million of unsecured Senior Notes.  The net
proceeds from the offerings, together with the proceeds from secured
borrowings to be made available from a commercial bank group, will be used for
the acquisition, to redeem Venture's 9-3/4% Senior Subordinated Notes due 2004
at a redemption price of 104.875%, to repay amounts outstanding under
Venture's existing secured credit facility, and for working capital and other
general corporate purposes.  Venture expects the Notes to be privately placed
to a group of institutional investors pursuant to Rule 144A of the Securities
Act of 1933.  The Notes being offered have not been registered and will not be
registered under the Securities Act of 1933 and may not be offered or sold in
the United States absent registration or applicable exemption from the
registration requirements.
    Venture is a leading systems integrator, designer and manufacturer of high
quality molded and painted parts for North American automotive original
equipment manufacturers and other direct or Tier 1 suppliers to the OEMs.