Lear Corporation Signs a Definitive Agreement To Sell

Its Electric Motor Systems Business Southfield, Mich. (PROTEXT) - Lear Corporation (NYSE: LEA)announced today that it has signed a definitive purchaseagreement with Johnson Electric Holdings Limited (OTC BulletinBoard: JELCY; SEHK: 179) to sell its recently acquired ElectricMotor Systems (EMS) business for US $310 million. Lear acquiredthe EMS business in its May 4, 1999 acquisition of UnitedTechnologies Automotive. EMS is a global supplier of industrial and automotive electricmotors and starter motors for small gasoline engines. EMS had1998 sales of $351 million. The business has approximately 3,300employees operating at locations in 10 countries. "Divesting the motors business will allow us to focus on theinterior and electronic systems that are core to our role as aninteriors integrator serving automotive manufacturers worldwide,"said Ken Way, Lear Chairman and Chief Executive Officer. "Thismove further demonstrates our strong commitment and focus on ourautomotive customers." Consummation of the acquisition is contingent upon expirationor termination of applicable waiting periods provided under theHart-Scott-Rodino Antitrust Improvements Act and applicableforeign competition act approvals. 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 is a world leader in the design, developmentand delivery of a broad range of micro motor products. Johnsonmicro motors are used in a variety of consumer and businessproduct applications, including Automobile Components, HomeAppliances, Power Tools, Personal Care and BusinessEquipment/Multimedia. Information about Johnson Electric and itsproducts 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 (USA) 248-447-1651, or Analyst: Jonathan Peisner, Director - InvestorRelations (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.comWeb site: http://www.lear.com

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