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Modine Completes Initial Stock-Buyback Program, Intends to Continue

15 March 2000

Modine Completes Initial Stock-Buyback Program, Intends to Continue

    RACINE, Wis.--March 15, 2000--Modine Manufacturing Company completed a stock buyback program announced Oct. 20, 1999, with an initial commitment to repurchase 300,000 shares.
    The company believes that the present price does not take into account Modine's value and the substantial growth expected during the next several years and, therefore, will continue to buy more stock as circumstances dictate.
    Modine is a world leader at solving heating and cooling problems in vehicles, buildings, and off-highway and industrial equipment. Modine has annual sales of more than $1 billion and has about 8,500 employees worldwide. Modine can be found on the Internet at www.modine.com.