Superior Industries Authorizes Repurchase of Up to an Additional 4M Shares

20 March 2000

Superior Industries Authorizes Repurchase of Up to an Additional 4 Million Shares And Regular Quarterly Dividend

    VAN NUYS, Calif.--March 20, 2000--Superior Industries International, Inc. announced today that its Board of Directors has authorized the repurchase of up to an additional 4 million shares of its common stock. The Company may make purchases from time to time in the open market. Superior has completed the repurchase of 4 million common shares since late 1995 under earlier buy-back authorizations. There are approximately 26.1 million common shares outstanding.
    "Superior has reported substantial earnings growth in recent years, a trend we expect to continue in 2000. With more than $350 million in new orders in just the past twelve months, the outlook in our OEM aluminum wheel business is extremely promising. We are optimistic about the growth prospects for our new aluminum suspension and related components business in the years ahead. We are winning new customers and gaining share of our target markets, and are aggressively expanding capacity to support continued growth," a spokesman said.
    "We believe that these developments are not properly reflected in Superior's current stock price. Accordingly, the Board has decided to dramatically expand the Company's stock repurchase program. We believe our own stock represents one of the most attractive investment opportunities available to us, so we are investing aggressively in our future to enhance shareholder value, while preserving financial flexibility," the spokesman added.
    In addition, the Board announced today that it will distribute a regular quarterly cash dividend on the common stock of the Corporation in the amount of $.09 per share payable April 21, 2000 to shareholders of record as of April 7, 2000.

    About Superior Industries

    Superior supplies aluminum wheels and other aluminum components to Ford, General Motors, DaimlerChrysler, BMW, Volkswagen, Audi, Rover, Toyota, Mazda, Mitsubishi, Nissan and Isuzu.

    The statements contained in this release which are not historical facts may be deemed to constitute forward-looking statements. Actual results might differ materially from those projected in such statements due to a number of risks and uncertainties, including, without limitation, demand and competition for the Company's products, and other risks or uncertainties detailed in the Company's filings with the Securities and Exchange Commission.