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ArvinMeritor Comments on Fourth-Quarter Outlook

15 September 2000

ArvinMeritor Comments on Fourth-Quarter Outlook

    TROY, Mich., Sept. 15 ArvinMeritor, Inc.
announced today that it expects fourth-quarter earnings per share to be below
current consensus estimates of $0.60 per share, as reported by First Call
Thomas Financial.  The company anticipates fourth-quarter earnings per share
to be in the $0.40 to $0.45 range.  ArvinMeritor will report its year-end
results on Nov. 8, 2000.
    "Several factors have had a significant impact on our financial
performance in the current quarter, including the downturn in North American
Class 8 vehicle production and in the global light vehicle aftermarket," said
Larry Yost, chairman and chief executive officer of ArvinMeritor.  "We have
also been affected by the weakening euro, as well as by customer plant
shutdowns."
    In a proactive move during the month before the July 2000 merger between
Arvin and Meritor, Meritor announced several restructuring actions designed to
significantly reduce costs and improve operational efficiencies.  Those
actions are now in the process of being implemented and will have a positive
impact on the new ArvinMeritor organization.  In addition, ArvinMeritor
expects to announce further cost-reduction initiatives by the end of the
calendar year, including resource and asset rationalization, tax efficiencies
and other synergies created by the merger.
    "We have been relentless in our efforts to drive down fixed costs and
create powerful operational and functional synergies wherever we can," Yost
continued.  "We have made tremendous progress in integrating the operations of
Arvin and Meritor into one efficient organization.  I am confident in our
ability to create long-term value for our shareowners, as we continue to
deliver quality products and superior service to our customers.  Further, we
are comfortable with the current consensus earnings per share of $3.85 for
fiscal 2001."
    In July of this year, in an ongoing effort to deliver long-term value to
shareowners, ArvinMeritor authorized a stock repurchase program of up to
$100 million.  To date, ArvinMeritor has repurchased 2.7 million shares at a
total cost of $47 million.