Lear Corporation Acquires United Technologies Automotive

Southfield, Mich. (PROTEXT) - Lear Corporation (NYSE: LEA)today announced that it has completed the acquisition of UnitedTechnologies Automotive, the former subsidiary of UnitedTechnologies Corporation, for $2.3 billion. UT Automotive has46,000 employees operating from 145 locations and had 1998revenues of $3.0 billion. "UT Automotive is a great strategic fit for Lear -- itenhances our instrument panel, headliner and door panelcapabilities in North America, and positions Lear as the thirdlargest supplier in the $20 billion global automotive electricaldistribution systems market," said Ken Way, Lear Chairman andChief Executive Officer. "Not only will the acquisition expandour market opportunities, but it is accretive right out of thebox and we expect it to create excellent financial returns on along-term basis. "It also positions Lear as the ultimate automotive interiorintegrator," Way added. "Lear now has the unique capability toprovide all interior modules and link them through an electricaland electronic 'neural network.'" Lear Corporation, a Fortune 200 company headquartered inSouthfield, Michigan, is the world's largest supplier ofautomotive interiors, with 1998 proforma sales of $13 billion.The company's world-class products are designed, engineered andmanufactured by more than 100,000 employees in over 300facilities located in 33 countries. Information about Lear andits products is available on the Internet at http://www.lear.com. This Lear Corporation news release contains forward-lookingstatements within the meaning of the Private SecuritiesLitigation Reform Act of 1995. Actual results may differmaterially from the anticipated results due to certain risks anduncertainties, including but not limited to general economicconditions in the markets in which Lear operates, fluctuations inthe production of vehicles for which the Company is a supplier,labor disputes involving the Company or its significantcustomers, risks associated with conducting business in foreigncountries and other risks detailed from time to time in theCompany's Securities and Exchange Commission filings. otsOriginal Text Service: Lear Corporation Internet:http://www.newsaktuell.de Contact: Media: Karen Stewart,Director - Corporate Communications (USA) 248-447-1651, orAnalyst: 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.lear.com

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