Lear Corporation is Y2K Ready

SOUTHFIELD, Mich. (PROTEXT) - Lear Corporation (NYSE: LEA) today issued a statement confirming the company's Year 2000 (Y2K) preparedness. "Lear is ready for the new millennium and any indication to the contrary is erroneous and without merit," said Lear Chief Information Officer and Vice President - Information Technology John Crary. "All of the company's business critical elements involving information technology - including manufacturing site computer systems - were completed and tested as of September 30, 1999. "Lear launched its Y2K readiness effort in 1996 and also was an early and active participant in the development of the Y2K program guidelines established by the Automotive Industry Action Group (AIAG), the independent organization that is directing the industry's Y2K preparedness strategy," Crary said. "Lear has played an ongoing leadership role in the AIAG's Y2K effort and Jim Lloyd, Lear Vice President - Information Technology, currently serves as AIAG Chairman of the Board. "An assessment of Lear's readiness based on a recent consultant's report in which Y2K expenditures are related to readiness, fails to account for the significant computer upgrades we have made in line with trends in the automotive industry and as part of the investments we've made over the past several years in our information technology program," he said. Lear's Information Technology staff members have been a part of the Y2K teams assembled by each of the global automotive manufacturers that make up Lear's customer base, traveling to Lear plant sites around the world to validate the company's readiness. Lear also has been instrumental in monitoring the Y2K compliance of the company's supply base. Lear Corporation, a Fortune 200 company headquartered in Southfield, Michigan, USA, 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 ots Original Text Service: Lear Corporation Internet: http://www.newsaktuell.de Contact: Media: Karen Stewart-Spica, Director of Corporate Communications, 248-447- 1651, or Analysts: Jody Glancy, Director of Investor Relations, 248-447-5906, both of Lear Corporation Company News On-Call: http://www.prnewswire.com/comp/518304.html or fax, 800-758-5804, ext. 518304 Web site: http://www.lear.com Subscribers please note that material bearing the slug "PROTEXT" is not part of CTK's news service and is not to be published under the "CTK" slug. Protext is a commercial service providing distribution of press releases from clients, who are identified in the text of Protext reports and who bear full responsibility for their contents. PROTEXT