Dana Corporation Names Robert C. Richter Chief Financial Officer

Dana Corporation (NYSE: DCN) has announced the appointment of Robert C. Richter as vice president and chief financial officer of the company. Richter, a 25-year Dana veteran whose background includes experience in a variety of financial and operating responsibilities, most recently served as Dana's vice president -- finance and administration. In this new role, Richter will report directly to President and Chief Executive Officer Joe Magliochetti. "Bob has broad experience and has demonstrated strong leadership in all aspects of financial management," said Magliochetti. "His diverse and solid background will be a great asset to Dana Corporation as we move forward with our Five-Point Plan for continued growth and profitability." In 1981 Richter was named president of Diamond Financial Holdings and was heavily involved in the successful restructuring of that group. In 1983 he was elected assistant treasurer of Dana Corporation. Richter was appointed senior vice president of Hayes-Dana, Inc. in Canada in 1985, and in 1987 he returned to the United States as corporate controller. He was appointed vice president and general manager of Perfect Circle Europe in 1994 and became general manager of the combined division of Perfect Circle Sealed Power Europe after the acquisition of Sealed Power in 1997. Later in the year, he was named vice president -- administration. In 1998, Richter was promoted to vice president - - finance and administration, assuming responsibility for a variety of corporate financial functions. Chairman of the Board Southwood J. Morcott said, "Bob will be a strong contributor to Dana's global growth. Along with his breadth of financial and operational experience, he brings a global business perspective that is necessary for our company to grow in today's competitive environment." A native of Heidelberg, Germany, Richter received a bachelor's degree from Miami University and an MBA from Bowling Green State University. He also has completed Harvard's Advanced Management Program. Richter is a member of Dana's Policy Committee and its World Operating Committee. In the past he has served as a member of Dana's European Operating Committee and the South American Operating Committee and as chairman of the Investment Committee. He is currently a member of the Financial Executives Institute, the Strategic Planning Council of the Manufacturers' Alliance for Productivity and Innovation (MAPI), and the International Business Advisory Committee for the School of Business Administration of Bowling Green State University. He is a past member of the Advisory Council for the School of Applied Science of Miami University, the Board of Directors of Flower Memorial Hospital, and the Young Leader's Council of the United Way of Greater Toledo. Dana Corporation is one of the world's largest independent suppliers to vehicle manufacturers and their related aftermarkets. Founded in 1904 and based in Toledo, Ohio, the company operates some 330 major facilities in 32 countries and employs more than 86,000 people. Dana's Internet address is www.dana.com . ots Original Text Service: Dana Corporation Internet: http://www.newsaktuell.de Contact: Gary Corrigan of Dana, 419-535-4813 Company News On-Call: http://www.prnewswire.com/comp/226839.html or fax, 800-758-5804, ext. 226839 Web site: http://www.dana.com

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