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Dana Reaches Agreement to Sell Commercial Vehicle Cab Systems Group DANA CORPORATION LOGO Dana Corporation logo. (PRNewsFoto)[DM] TOLEDO, OH USA 09/03/1999    

13 March 2000

Dana Reaches Agreement to Sell Commercial Vehicle Cab Systems Group DANA CORPORATION LOGO Dana Corporation logo. (PRNewsFoto)[DM] TOLEDO, OH USA 09/03/1999    

    TOLEDO, Ohio, March 13 Dana Corporation
announced today that it has signed a definitive agreement to sell its
Commercial Vehicle Cab Systems Group to an affiliate of Hidden Creek
Industries, Inc.
    (Photo:  Newscom:  http://www.newscom.com/cgi-bin/prnh/19990903/DANA )
    Terms of the transaction, which is subject to regulatory approval, were
not disclosed.  The sale is expected to close within the next four weeks.
    Commercial Vehicle Cab Systems, which came to Dana through the acquisition
of Echlin Inc., manufactures mirrors and mirror systems, windshield wiper
motors, and HVAC controls for medium- and heavy-duty trucks.  Its products are
marketed primarily under the Moto Mirror? and Sprague? brand names.  The group
had sales of $104 million in 1999 and employs approximately 580 people at
facilities in Canby, Ore.; Canton, N.C.; and Michigan City, Ind.
    "The sale of this business is consistent with our announcement last June
of our intent to divest non-strategic or non-core operations," said Joe
Magliochetti, Dana president and chief executive officer.  "While supporting
the divestiture element of our Five-Point Plan, this sale, when completed,
will allow us to progress further on other elements of our plan, such as share
repurchases, debt reduction, and strategic acquisitions.
    Dana unveiled its Five-Point Plan last April.  A tactical link to the
company's overall strategic plan, the plan provides five elements for
continued growth and increased profitability:

    * 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 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 320 major facilities in 33
countries and employs more than 82,000 people. The company reported sales of
$13.2 billion in 1999. Dana's Internet address is http://www.dana.com .