Dana Corporation To Supply Spicer® Driveshafts For Iveco European Trucks

Toledo, Ohio -- Mar 29, 2004 -- Dana Corporation (NYSE: DCN) announced today that it has been selected to supply Spicer®driveshaft assemblies to Iveco, a company in the Fiat Group, for all of the truck manufacturer’s needs in Europe through 2007.

“We are very pleased to expand upon our valued relationship with Iveco, one of the world’s largest commercial vehicle manufacturers,” said Michael J. Burns, Dana CEO and president.  “Dana’s industry-leading technological advances, global reach, and commitment to provide solutions that meet customer needs were instrumental in securing this business.  It is another example of our commitment to being a world-class provider of advanced drivetrain solutions.”

“Dana is committed to providing our customers with the utmost level of product and process excellence.  We are pleased to continue to bring this outstanding level of product quality and professional service to Iveco,” said Nick Cole, president of Dana’s Heavy Vehicle Technologies and Systems Group.

The four-year supply agreement provides that Dana will supply Spicer Compact Series driveshafts for Iveco’s trucks built in its facilities in Italy, Spain, and Germany.

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.