Dana Corporation Introduces New Piston-Ring Coating Technology

Barcelona, Spain -- May 24, 2004 -- Dana Corporation (NYSE: DCN) today announced the development of its new Perfect Circle® PCF-480™ piston ring coating designed to reduce emissions and oil consumption while improving the durability of light-duty diesel engines.  The announcement was made at the 2004 Fédération Internationale des Sociétés d'Ingénieurs des Techniques de l'Automobile (FISITA) World Automotive Conference here.

The new technology builds upon on the PCF-380™ piston-ring coating Dana currently supplies to several heavy-duty OEM engine manufacturers.  Taking into consideration the durability expectations and lower duty cycle of passenger car diesels, the PCF-480 piston ring coating was formulated to decrease wear on both the ring and bore surfaces – providing a superior seal that reduces oil consumption and lowers emissions.

Michael J. Burns, Dana chairman and CEO said, “Dana’s PCF-380 coating has been a huge success in the heavy-vehicle market.  This new PCF-480 technology is an example of how Dana can harness a technology we’ve developed for one market and adapt it to meet the needs of another market to provide additional value there, as well.”

“This new coating is another example of Dana’s commitment to help our customers improve emissions and durability performance,” said Mike Laisure, president of Dana’s Automotive Systems Group.  “The PCF-480 piston-ring coating is a cost-effective, extremely robust product, making it an ideal choice for the next generation of light-duty diesel engines.” 

Perfect Circle PCF-480 is a thermally applied coating, filling the groove on the piston-ring face.  Internal coating strength is improved compared to standard thermally applied coatings and optimized for light-duty applications.  The PCF-480 coating process is also friendlier to the environment than traditional electroplated coatings.

Designed to resist abrasive wear and be thermally stable, the new coating produces a 30-percent harder surface and is less porous than previous light-duty ring coatings.  Because thermally applied coatings offer more design flexibility than electroplated piston rings, the shape and sharp-edge profiles provide improved emissions performance and reduced oil consumption.

Dana Corporation is a global leader in the design, engineering, and manufacture of value-added products and systems for automotive, commercial, and off-highway vehicles.  Delivering on a century of innovation, the company's continuing operations employ approximately 45,000 people worldwide dedicated to advancing the science of mobility.  Founded in 1904 and based in Toledo, Ohio, Dana operates technology, manufacturing, and customer-service facilities in 30 countries.  Sales from continuing operations totaled $7.9 billion in 2003.  Dana’s Internet address is www.dana.com.