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Standard Automotive Reports Revenues and Earnings

8 November 2000

Standard Automotive Corporation Reports Revenues of $38.0 Million Operating Income of $3.6 Million and Earnings Per Share of $0.05

    HILLSBOROUGH TOWNSHIP, N.J.--Nov. 7, 2000--STANDARD AUTOMOTIVE CORPORATION (AMEX:AJX, AJX.PR) ("Standard") announced revenues of $37,980,000 for the quarter ended September 30, 2000, a decrease of 15% from the comparable 1999 period.
    The shortfall was primarily attributable to a reduction in trailer and truck body orders, stemming from increased interest rates and fuel prices that are broadly impacting the transportation industry. The decrease was partially offset by strong revenues reported by our Critical Components Division.
    Operating Income of $3,577,000 for the quarter ended September 30, 2000 represents a decrease of 5% from the comparable 1999 quarter. Fully diluted earnings per share for the quarter ended September 30, 2000 was $0.05 versus $0.26 for the comparable 1999 quarter.
    Steven Merker, Chairman and Chief Executive Officer of Standard Automotive Corporation commented, "Although revenues are lower in certain sectors of our business due primarily to market conditions, we do not want this to obscure the fact that we are experiencing significant sales growth in several of our companies. We are encouraged by the continued growth of our Critical Components Division and will continue our strategy of growing our businesses internally and through accretive acquisitions."