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Harvard Industries Announces Share Repurchase

6 October 1999

Harvard Industries Announces Share Repurchase

    LEBANON, N.J., Oct. 5 -- Harvard Industries, Inc.
today announced its board of directors has authorized the
Company to repurchase up to $5 million of its common stock.
    As a result, the Company purchased 762,000 shares of its common stock
today in a private transaction at an aggregate cost of $4.95 million.  The
source of funds was a portion of the net proceeds from the recently completed
sale of the assets of its Kingston-Warren subsidiary.
    According to Roger Pollazzi, chairman and chief executive officer, "Our
board of directors has felt for some time that the market price of the
Company's stock did not reflect the intrinsic value of our Company and offers
an exceptional opportunity to increase shareholder value through the
repurchase of our shares."
    Pollazzi noted that "based on the general undervaluation of auto supplier
stocks and current market conditions, this transaction should enhance
shareholder value."
    As of September 30, 1999, the Company had 10,234,222 shares of common
stock outstanding.
    Headquartered in Lebanon, N.J., Harvard Industries designs, develops and
manufactures a broad range of components for OEM manufacturers, the automotive
aftermarket, aerospace and industrial and construction equipment applications
worldwide.  The Company employs approximately 3,000 employees at 10 plants in
the United States and Canada.
    Statements herein regarding the Company's future performance, including
the Company's ability to consummate transactions, constitute forward-looking
statements within the meaning of the Securities Act of 1933 and the Securities
Exchange Act of 1934.  Such statements are subject to certain risks and
uncertainties that could cause actual results to differ materially from those
projected.  With respect to the Company's long-term business strategies,
management has made certain assumptions regarding the Company's performance
which may change or be affected by, among other things, customer demand for
the Company's products, and adverse changes in general, market and industry
conditions.  In addition, there can be no assurance that the Company will be
able to successfully identify, negotiate or complete any acquisitions or
divestiture transaction, which the Company may be currently contemplating.
Management believes that forward-looking statements are reasonable, however
undue reliance should not be placed on such forward-looking statements, which
are based on current expectations.