Lear Corporation Completes Sale of Electric Motor

Systems Business Southfield, Michigan (PROTEXT) - Lear Corporation (NYSE: LEA)today completed the sale of its recently acquired Electric MotorSystems (EMS) business to Johnson Electric Holdings Limited (OTCBulletin Board: JELCY; SEHK: 179) for US $310 million. Lear willuse the proceeds from the sale to pay down debt under itsexisting credit facilities. Lear acquired the EMS business in its May 4, 1999 acquisitionof United Technologies Automotive (UTA). EMS is a global supplierof industrial and automotive electric motors and starter motorsfor small gasoline engines. EMS had 1998 sales of $351 million.The business has approximately 3,300 employees operating atlocations in 10 countries. "We're pleased that we were able to so quickly complete thesale of the motors business," said Kenneth L. Way, Lear Chairmanand Chief Executive Officer. "We're also moving quickly inintegrating our core interior and electronic systems business inorder to advance our role as the industry's leading automotivesystems integrator." Lear Corporation, a Fortune 200 company headquartered inSouthfield, Michigan, is the world's largest supplier ofautomotive interiors, with 1998 proforma sales of more than $12billion. The company's world-class products are designed,engineered and manufactured by more than 100,000 employees inover 300 facilities located in 33 countries. Information aboutLear and its products is available on the Internet athttp://www.lear.com. Johnson Electric, which is headquartered in Hong Kong, is aworld leader in the design, development and delivery of a broadrange of micro motor products. Johnson micro motors are used in avariety of consumer and business product applications, includingAutomobile Components, Home Appliances, Power Tools, PersonalCare and Business Equipment/Multimedia. Information about JohnsonElectric and its products is available on the Internet athttp://www.johnsonmotor.com. ots Original Text Service: LearCorporation Internet: http://www.newsaktuell.de Contact: Media:Karen Stewart, Director, Corporate Communications Tel.: (in theUSA) 248-447-1651, or Analysts: Jonathan Peisner, Director,Investor Relations Tel.: (in the USA) 248-447-1624 Company NewsOn-Call: http://www.prnewswire.com/comp/518304.html or fax, 800-758-5804, ext. 518304 Web site: http://www.johnsonmotor.com Website: http://www.lear.com

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