Dana Corporation Selected by Fiat to Supply Modules for Argentine-Built Vehicles

    TOLEDO, Ohio, March 24 /PRNewswire/ -- Dana Corporation (NYSE: DCN) today
announced that it has been selected to supply modules to Fiat Auto Argentina
S.A. for its Duna and Uno passenger cars manufactured in Argentina.
    Dana expects to supply a combined 35,000 front corner and rear suspension
modules annually for the vehicles with the first shipment anticipated this
May.
    "The new business with Fiat solidifies our growing status as a leading
systems integrator in South America, adding further depth and support to
Dana's modular systems efforts in the region," said Mike Laisure, vice
president, Modular Systems.
    The Fiat modules will be assembled at Dana's affiliate in Buenos Aires,
Argentina.  Initially, Dana will supply approximately 38 percent of the module
content.  This will include constant velocity joints, drums, and disc brakes
supplied by its affiliates.
    In a second stage of the project, Dana will have the opportunity to
integrate new components, including chassis parts, steering knuckles, brake
hoses, rubber products, and stamped parts that could raise its share of the
content to more than 50 percent.
    Horacio de Giuli, president of Dana Argentina, said the Fiat business
strengthens Dana's position as a modular supply leader.  "This new program
with Fiat, along with the current business with Ford and Volkswagen, makes
Dana the leader in supplying suspension modular systems for passenger cars in
Argentina," he said.
    Added Cedomir Eterovic, president of Dana South America, "Our regional
market as a whole has been an extremely active venue for our growing modular
systems activities."
    Dana's modular activity in South America is wide ranging, involving active
projects with major original equipment manufacturers including Chrysler
Corporation, Ford Motor Company, General Motors Corporation, Toyota Motor
Corporation, Volkswagen A.G., and A.B. Volvo.  These projects range from
corner modules to the world's first rolling chassis for a light truck, which
Dana expects to begin assembling in June.
    Dana Corporation is a global leader in the engineering, manufacture, and
distribution of products and services for the automotive, engine, heavy truck,
off-highway, industrial, and leasing markets.  Founded in 1904 and based in
Toledo, Ohio, Dana operates facilities in 30 countries and employs more than
50,000 people. The company reported record sales of $8.3 billion in 1997.  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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