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Tower Automotive Acquires Equity Interest in Yorozu Corporation

21 September 2000

Tower Automotive Acquires Equity Interest in Yorozu Corporation

    GRAND RAPIDS, Mich., Sept. 21 Tower Automotive, Inc. , announced today that it has acquired a
17 percent equity interest in Yorozu Corporation ("Yorozu"), a supplier of
suspension modules and structural parts to the Japan, Thailand, Mexico and
United States automotive markets, from Nissan Motor Co. Ltd. ("Nissan").
Yorozu is based in Japan and is publicly traded on the first tier of the Tokyo
Stock Exchange.
    Yorozu had revenues of approximately $643 million for the fiscal year
ended March 31, 2000.  Its principle customers include Nissan, Auto Alliance,
General Motors, Ford and Honda.  Yorozu presently employs over 3,300
colleagues and operates from six manufacturing facilities located in close
proximity to its major customers.
    In commenting on this investment, Dugald K. Campbell, president and chief
executive officer of Tower Automotive, said, "This strategic alliance with
Yorozu provides us with an established Tier I supplier of suspension and
related structural products in Japan that expands our manufacturing
capabilities to include Thailand and furthers our presence in North America.
Yorozu's strong customer relationships will provide global sales opportunities
and market growth."
    Tower Automotive will pay Nissan approximately $38 million over the next
2.5 years to acquire the 17 percent interest.  In addition, Tower Automotive
will have the opportunity to increase its holdings in Yorozu through the
purchase of additional Yorozu shares.