Lear Corporation Signs a Definitive Agreement To Sell

Lear Corporation (NYSE: LEA) announced today that it has signed a definitive purchase agreement with Johnson Electric Holdings Limited (OTC Bulletin Board: JELCY; SEHK: 179) to sell its recently acquired Electric Motor Systems (EMS) business for US $310 million. Lear acquired the EMS business in its May 4, 1999 acquisition of United Technologies Automotive. EMS is a global supplier of industrial and automotive electric motors and starter motors for small gasoline engines. EMS had 1998 sales of $351 million. The business has approximately 3,300 employees operating at locations in 10 countries. "Divesting the motors business will allow us to focus on the interior and electronic systems that are core to our role as an interiors integrator serving automotive manufacturers worldwide," said Ken Way, Lear Chairman and Chief Executive Officer. "This move further demonstrates our strong commitment and focus on our automotive customers." Consummation of the acquisition is contingent upon expiration or termination of applicable waiting periods provided under the Hart-Scott-Rodino Antitrust Improvements Act and applicable foreign competition act approvals. 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 http://www.lear.com. Johnson Electric is a world leader in the design, development and delivery of a broad range of micro motor products. Johnson micro motors are used in a variety of consumer and business product applications, including Automobile Components, Home Appliances, Power Tools, Personal Care and Business Equipment/Multimedia. Information about Johnson Electric and its products is available on the Internet at http://www.johnsonmotor.com. ots Original Text Service: Lear Corporation Internet: http://www.newsaktuell.de Contact: Media: Karen Stewart, Director - Corporate Communications (USA) 248- 447-1651, or Analyst: Jonathan Peisner, Director - Investor Relations (USA) 248-447-1624, both of Lear Company News On- Call: http://www.prnewswire.com/comp/518304.html or Fax, (USA) 800-758-5804, ext. 518304 Web site: http://www.johnsonmotor.com Web site: http://www.lear.com

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