Dana Corporation Named Newsmaker of Year By Diesel Progress

Dec 30, 1997

    TOLEDO, Ohio, Dec. 30 /PRNewswire/ -- Dana Corporation (NYSE: DCN) has
received the inaugural Newsmaker of the Year Award from Diesel Progress
magazine.  The award was presented by magazine officials earlier this month.
    The award recognizes the person, company, product, market, or technology
that, in the opinion of the magazine's editorial board, made the most
important industry news during the previous 12 months in any or all of the
engine-powered equipment or components markets.
    In announcing the award, Diesel Progress said, "In making news, Dana Corp.
was second to none."  The magazine added that Dana's many acquisitions and
divestitures this year ". . . underscored Dana's commitment to be a Tier I
supplier to just about everything that moves, on the road or off."
    So far this year, Dana has completed the acquisition of Clark-Hurth
Components and the Sealed Power Division of SPX Corporation.  Last week, Dana
announced that it has received clearance from the Federal Trade Commission to
complete the purchase of the Heavy Axle and Brake business of Eaton
Corporation.  Additionally, Dana has entered into various joint ventures,
including a 75-percent share of Wix-Filtron, a Polish manufacturer of
filtration products.
    Dana also has announced nine divestitures this year, including the sale of
its U.S. heavy-truck structural components operation; European warehouse
distribution facilities; vehicular clutch business; transmission business;
leaf spring manufacturing assets; flat rubber products business; and its
49-percent interest in Korea Spicer Corporation.  It announced the sale of its
brake hose business last week.
    Dana Corporation is a global leader in the engineering, manufacture, and
distribution of products and systems for the automotive, heavy truck,
off-highway, engine, and industrial markets.  It also operates a leasing
services business, Dana Credit Corporation.  Founded in 1904 and based in
Toledo, Ohio, Dana operates facilities in 30 countries and employs more than
48,000 people.  The Internet address for Dana's home page is www.dana.com.

SOURCE  Dana Corporation

CONTACT: Gary Corrigan of Dana, 419-535-4813
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