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Vertical Market Exchange to Become Neutral; Meritor Not to Participate in Venture

17 April 2000

Vertical Market Exchange to Become Neutral; Meritor Not to Participate in Venture

    TROY, Mich., April 14 Meritor Automotive, Inc. (NYSE: MRA)
today announced it will not go forward with its participation in the recently
announced FleetWorks.com.
    According to Meritor Chairman and Chief Executive, Larry D. Yost:
"Complete neutrality is key to the success of any vertical exchange concept.
As an industry supplier and majority partner, appropriate neutrality in this
case could not be reached, based on the broad industry feedback that we've
received since FleetWorks.com was announced.  As such, Meritor has decided not
to participate in this venture."
    Meritor, with 1999 sales of $4.5 billion, is a global supplier of a broad
range of components and systems for commercial, specialty and light vehicle
OEMs and the aftermarket.  Meritor consists of two businesses: Light Vehicle
Systems, a major supplier of roof, door, automotive body, access control and
suspension systems and wheel products for passenger cars, light trucks and
sport utility vehicles, and Heavy Vehicle Systems, a leading supplier of
complete drivetrain systems and components for medium- and heavy-duty trucks,
trailers and off-highway equipment and specialty vehicles, including military,
bus and coach, and fire and rescue.