Dana Corporation Intends to Sell its Marion, Ohio,

Forging Facility TOLEDO, Ohio (PROTEXT) - Dana Corporation (NYSE: DCN) todayannounced its intention to sell its Marion, Ohio, forgingfacility, which was acquired in Dana's 1998 acquisition of EatonCorporation's heavy axle and brake business. The 258,000-square-foot facility, which had sales of more than$50 million in 1998, produces fully machined axle shafts and avariety of forgings, such as ring gears and helical gears, forheavy-duty truck applications. The facility employs approximately300 people. Rick Clayton, president of Dana's Heavy Truck Group, said,"Dana has realized tremendous synergies since it purchased theEaton heavy axle and brake businesses. As a result, the forgingoperation no longer fits within our manufacturing strategies. Thedecision to sell this important business is not a reflection onour people there or on the business opportunities for that plantin the future." The proposed sale is consistent with Dana's previouslyannounced Five- Point Plan for continued growth and increasedprofitability, and it comes in response to interest frompotential buyers. "These are difficult decisions, but another clear example ofDana's resolve to divest operations that are either non-strategicor under-performing -- which is one of the tactics of our Five-Point Plan," said Joe Magliochetti, Dana president and CEO. "Infact, in the last two months, we have announced our intention tosell business with sales of more than $700 million." Dana's Five-Point Plan is a tactical link to the company'soverall strategic plan, and includes the following five tactics: * Grow while focusing on returns and maintaining financial

discipline; * Seek strategic, bolt-on acquisitions at reasonablevaluations; * Divest non-strategic and non-performing operations; * Repurchase stock as the company generates cash; and * Complete integration efforts and realize synergy savings. Dana has retained the investment-banking firm of CIBC WorldMarkets to assist in the transaction. Dana Corporation is one of the world's largest independentsuppliers to vehicle manufacturers and their relatedaftermarkets. Founded in 1904 and based in Toledo, Ohio, thecompany operates some 330 major facilities in 32 countries andemploys more than 86,000 people. The company reported sales of$12.5 billion in 1998. Dana's Internet address is www.dana.com .ots Original Text Service: Dana Corporation Internet:http://www.newsaktuell.de Contact: Gary Corrigan of DanaCorporation, (in the USA) 419-535-4813 Company News On-Call:http://www.prnewswire.com/comp/226839.html or fax, (in the USA)800-758-5804, ext. 226839 Web site: http://www.dana.com

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