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Stoneridge Expects Full-Year 2000 Sales and Earnings Will Increase Less Than Previously Anticipated

29 June 2000

Stoneridge Expects Full-Year 2000 Sales and Earnings Will Increase Less Than Previously Anticipated

    WARREN, Ohio - Stoneridge, Inc. today announced it anticipates that sales 
revenues and earnings for 2000 will be less than consensus estimates primarily 
as a result of softening market conditions for commercial vehicles and passenger 
cars, and the weak Euro.  The Company's strategic decision to withdraw from a 
low-margin production contract is also a factor in the lowered revenue 
expectations.

    The Company said earnings for the year are expected to be in the range of
$1.85 to $1.95 per share, compared with a current consensus estimate of $2.12
per share.  Full-year financial results are anticipated to be slightly higher
than in 1999, when the Company had annual sales of $675.2 million and EPS of
$1.84.  The Company expects the impact on sales and earnings to be felt
beginning with the second quarter and last at least through the remainder of
the year.  Stoneridge is due to report its second quarter results in late
July.

    "We anticipate that our 2000 revenues will be less than originally
forecasted as a result of several factors," said Cloyd J. Abruzzo, president
and chief executive officer.  "Since the beginning of 2000, we have seen a
gradual slowing of vehicle sales in all of our markets, especially commercial
vehicles.  Recent increases in interest rates and gasoline prices appear to be
contributing to the acceleration of this trend.  In addition, we made a
business decision to withdraw from the price competition related to one of our
power distribution contracts when it became apparent that the return
on investment would be unacceptable.  Revenues have been impacted to a lesser
extent by the weakness of the Euro and customer delays in certain new vehicle
launches."

    Abruzzo said, "Stoneridge has received significant new business awards
during the first half of 2000 requiring increased levels of product
development spending, which is having a short-term impact on earnings.
However, we expect this increased product development spending to result in
additional growth in the years ahead as these new products move into
production for model years 2002-2004.  Stoneridge remains committed to
investing aggressively in those new business opportunities that will
strengthen our future strategically and financially."

    Stoneridge, Inc., headquartered in Warren, Ohio, is a leading independent
designer and manufacturer of highly engineered electrical and electronic
components, modules and systems principally for the automotive, medium and
heavy-duty truck, agricultural and off-road vehicle markets.  Sales in 1999
were approximately $675 million.