Lear Corporation Signs Letter of Intent to Acquire 100%

Donnelly Corporation (NYSE: DON) and Lear Corporation (NYSE: LEA) today signed a letter of intent for Lear to acquire Donnelly's 50-percent stake in Lear-Donnelly Overhead Systems, L.L.C. (LDOS), the joint venture in which the two automotive suppliers are currently equal partners. The transaction is subject to regulatory approval and is expected to be completed by late summer. Terms of the transaction were not released. LDOS designs and manufactures overhead systems for the automotive industry. The joint venture was formed in 1997 by Donnelly and Lear, with each company contributing certain assets. The LDOS product line includes headliners, sun visors, lighting and overhead consoles. Lear Corporation, a Fortune 200 company headquartered in Southfield, Michigan, is the world's largest supplier of automotive interiors, with 1998 proforma sales of more than $12 billion. The company's world-class products are designed, engineered and manufactured by more than 100,000 employees in over 300 facilities located in 33 countries. Information about Lear and its products is available on the Internet at www.lear.com. Donnelly Corporation is an international automotive supplier dedicated to serving customers around the globe with industry- leading components and systems in automotive mirrors, windows and handle products. Through its various product lines, Donnelly is a supplier to every major automotive manufacturer in the world. The company has been based in Holland, Michigan since 1905, and today has approximately 5,500 employees in 12 countries worldwide. In addition, Donnelly in nationally recognized as a leader in the application of participative management principles and systems. Additional information is available on the company's website at www.donnelly.com. ots Original Text Service: Lear Corporation Internet: http://www.newsaktuell.de Contact: Analysts, Jonathan Peisner, 248-447-1624, or Media, Karen Stewart, 248-447-1651, both of Lear; or Randy Boileau of Donnelly, 616-786-6145 Company News On-Call: http://www.prnewswire.com/comp/518304.html or fax, 800-758-5804, ext. 518304 Web site: http://www.donnelly.com Web site: http://www.lear.com


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