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Lear Corporation Confirms Participation in Covisint Internet Exchange

13 June 2000

Lear Corporation Confirms Participation in Covisint Internet Exchange

    SOUTHFIELD, Mich. - Lear Corporation today confirmed that it has signed a 
letter of intent to join Covisint, the planned global Internet-based business-
to-business communication exchange being formed by General Motors, Ford, Daimler
Chrysler, Renault and Nissan, pending all governmental and legal approvals of 
the new venture.

    Lear participated in the early stages of Covisint's development as a
supplier advisor to the Internet-based automotive marketplace and decided
early on to use it as the primary exchange for conducting electronic
transactions with customers and suppliers.  Lear is one of the world's largest
suppliers, and purchases more than $8.5 billion worth of goods and services
annually.

    "Joining Covisint demonstrates our commitment to be an industry leader in
e-business initiatives," said Kenneth L. Way, Lear Chairman and Chief
Executive Officer.  "Through our participation in Covisint, we'll be able to
develop the exchange to the benefit of the entire automotive industry, take
waste out of the system and improve our ability to communicate with our
customers and suppliers."

    According to executives at Covisint, having one of the largest automotive
suppliers join the exchange validates the direction of the venture and
highlights the potential benefits to the entire automotive industry.  Customer
input is critical during the development phase and active participation from
Lear and other major partners will help ensure its success.

    Officially named Covisint last month, the new venture will be established
as an independent company and will offer products and services designed to
help auto makers and suppliers alike achieve unprecedented efficiencies
throughout the supply chain.  Currently, Commerce One and Oracle are the two
primary technology providers to the planned venture.  Covisint will integrate
best-of-breed technology to provide solutions for its customers.

    Lear Corporation, a Fortune 150 company headquartered in Southfield,
Michigan, USA, is one of the world's largest automotive suppliers, with 1999
sales of $12.4 billion.  The company's world-class products are designed,
engineered and manufactured by more than 120,000 employees in over 300
facilities located in 33 countries.