Lear Corporation Completes Sale of Electric Motor Systems Business

28 June 1999
Lear Corporation Completes Sale of Electric Motor Systems Business
    SOUTHFIELD, Mich., June 25 -- Lear Corporation
today completed the sale of its recently acquired Electric Motor Systems (EMS)
business to Johnson Electric Holdings Limited
(OTC Bulletin Board: JELCY; SEHK: 179) for US $310 million.  Lear will use the
proceeds from the sale to pay down debt under its existing credit facilities.
    Lear acquired the EMS business in its May 4, 1999 acquisition of United
Technologies Automotive (UTA).  EMS is a global supplier of industrial and
automotive electric motors and starter motors for small gasoline engines.  EMS
had 1998 sales of $351 million.  The business has approximately 3,300
employees operating at locations in 10 countries.
    "We're pleased that we were able to so quickly complete the sale of the
motors business," said Kenneth L. Way, Lear Chairman and Chief Executive
Officer.  "We're also moving quickly in integrating our core interior and
electronic systems business in order to advance our role as the industry's
leading automotive systems integrator."
    Lear Corporation, a Fortune 200 company headquartered in Southfield,
Michigan, is the world's largest supplier of automotive interiors, with 1998
proforma sales of more than $12 billion.  The company's world-class products
are designed, engineered and manufactured by more than 100,000 employees in
over 300 facilities located in 33 countries.  Information about Lear and its
products is available on the Internet at http://www.lear.com.
    Johnson Electric, which is headquartered in Hong Kong, is a world leader
in the design, development and delivery of a broad range of micro motor
products.  Johnson micro motors are used in a variety of consumer and business
product applications, including Automobile Components, Home Appliances, Power
Tools, Personal Care and Business Equipment/Multimedia.  Information about
Johnson Electric and its products is available on the Internet at
http://www.johnsonmotor.com.