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ArvinMeritor Board Authorizes $100 Million for Share Repurchase Program

19 July 2000

ArvinMeritor Board Authorizes $100 Million for Share Repurchase Program

    TROY, Mich. - ArvinMeritor, Inc.'s board of directors today authorized up to 
$100 million for the purchase of the new company's common stock, beginning 
immediately.  Under the repurchase program, the company expects to purchase 
shares periodically in the open market or through privately negotiated 
transactions, as market conditions warrant and in accordance with Securities and 
Exchange Commission rules.  ArvinMeritor's stock price closed at $15.44 on July 
18, 2000.  There are approximately 71.0 million shares outstanding.

    Predecessor companies Arvin Industries, Inc. and Meritor Automotive, Inc.
merged into ArvinMeritor, Inc. on July 7, 2000.  When the former companies
announced the proposed merger on April 6, 2000, each suspended a common share
buyback program then in place: Arvin to repurchase up to one million of its
shares, and Meritor to repurchase up to $75 million of its stock.

    ArvinMeritor Chairman and Chief Executive Officer Larry Yost said,
"ArvinMeritor, through its predecessor companies, achieved outstanding results
including sustained sales and earnings growth.  The combined company provides
a significant platform from which we expect to accelerate that growth by
expanding our addressable markets, capitalizing on customer positioning, and
enlarging our product and services portfolio.  Given this strong past and
promising future, we believe our company's stock is undervalued and offers an
excellent investment opportunity."

    "Our stock repurchase program is just one of several strategies we will
continue to use in our ongoing efforts to enhance shareowner value.  We are
also focused on growing our existing business base, as well as expanding
profit margins, through market share gains and new product introductions;
business alliances and joint ventures; selective acquisitions; restructuring
and aggressive cost-reduction efforts to boost operating performance; and
divestment of non-core product lines.  In support of our long-term financial
goals, ArvinMeritor has established, through the merger, an enviable business
portfolio that reflects strength, balance and diversity in product scope,
customer base and geographic markets.  We believe that we are well positioned
to take full advantage of industry trends and expand our leadership market
shares, which contribute to our company's long-term growth."

    Yost concluded, "ArvinMeritor's solid financial position and strong cash
flow support our stock repurchase program, and provide a basis for exploring
future strategic opportunities."

    ArvinMeritor, Inc. is a premier $7.5-billion global transportation
industry supplier of a broad range of integrated systems, modules and
components, serving light vehicle, commercial truck, trailer and specialty
original equipment manufacturers and related aftermarkets.  In addition, the
company is the leader in coil coating applications, including those for the
transportation, appliance, construction and furniture industries.
Headquartered in Troy, Mich., ArvinMeritor employs 36,500 people at more than
120 facilities in 25 countries.  The company's common stock is traded on the
New York Stock Exchange under the ticker symbol ARM.