---

Dana Corporation to Sell Australian Truckline Parts Centres

19 July 1999

Dana Corporation to Sell Australian Truckline Parts Centres

    TOLEDO, Ohio, July 19 -- Dana Corporation today
announced plans to sell its Australian Truckline Parts Centres businesses.
    With sales of $37 million in 1998, Truckline Parts Centres is Australia's
largest independent specialist distributor of heavy-duty parts, comprising
mainly truck and trailer parts for buses, coaches, trailers, four-wheel-drive
vehicles, and agricultural equipment.
    The business consists of a nationwide company-owned and -operated network
of 23 retail outlets across Australia, as well as 11 driveline repair and
remanufacturing facilities.  Additional sales are made through authorized
distribution partners and resellers across Australia.  The operations employ
190 people.
    Gerry Turek, managing director of Dana Australia, said, "Truckline is a
strong and well known brand name in the Australian heavy-duty market and to a
substantial retail customer base, including fleet operators, owner drivers,
repairers, and workshops.  Truckline's network of stores represents an
opportunity for the purchaser to gain aftermarket presence in Australia."
    The proposed sale is consistent with Dana's previously announced Five-
Point Plan for continued growth and increased profitability, and it comes in
response to interest from potential buyers.
    Dana unveiled its Five-Point Plan in April.  The plan, a tactical link to
the company's overall strategic plan, includes the following five tactics:

    * Grow while focusing on returns and maintaining financial discipline;
    * Seek strategic, bolt-on acquisitions at reasonable valuations;
    * Divest non-strategic and non-performing operations;
    * Repurchase stock as the company generates cash; and
    * Complete integration efforts and realize synergy savings.

    Dana Australia is being advised by Macquarie Bank Limited on the proposed
sale.
    Dana Corporation is one of the world's largest independent suppliers to
vehicle manufacturers and their related aftermarkets.  Founded in 1904 and
based in Toledo, Ohio, the company operates some 330 major facilities in
32 countries and employs more than 86,000 people.  The company reported sales
of $12.5 billion in 1998. Dana's internet address is http://www.dana.com .