Dana Completes European Warehouse Distribution Sale; Divestiture is Largest in Company History

    TOLEDO, Ohio, March 20 /PRNewswire/ - Dana Corporation (NYSE: DCN) has
completed the sale of its warehouse distribution operations in the U.K., the
Netherlands and Portugal to U.K.-based Partco Group plc for 103 million pounds
(U.S. $164 million).
    The divestiture is the largest in Dana history, resulting in an after-tax
gain of approximately $45 million to Dana (44 cents per share).  The
operations included in the sale encompass 135 Brown Brothers distribution
facilities in the United Kingdom, Dana Distribution B.V. (Holland), Tece
Almere (Holland), and Europecas S.A. (Portugal).  Combined 1996 sales of the
European warehouse distribution operations were $315 million.
    Dana Chairman Southwood J. Morcott said the transaction supports the
company's efforts to focus resources squarely on its core businesses to
increase shareholder value and to divest businesses which do not make the
financial objectives of the company.
    "First and foremost, Dana engineers and manufactures components and
systems for highway vehicles, off-highway vehicles, and industrial
applications all over the world," Morcott said.  "We will continue to
distribute our manufactured products in the global aftermarket, but this
divestiture moves us away from warehouse distribution of products we don't
produce."
    Dana Corporation is a global leader in the engineering, manufacture and
distribution of products and systems for the vehicular, industrial and off-
highway markets.  Its core businesses are axles, driveshafts, structural
components (frames), sealing products, filtration products, engine products,
industrial products, off-highway components and leasing.  Its leasing services
operation was a recipient of the 1996 Malcolm Baldrige National Quality Award.
Founded in 1904 and based in Toledo, Ohio, Dana operates facilities in 30
countries with more than 48,000 people.  Its 1996 sales were $7.7 billion.  It
has more than 40 product research and development centers worldwide.  The
Internet address for Dana's home page is: http://www.dana.com.

SOURCE  Dana Corporation

CONTACT: Gary Corrigan, Director-Corporate Communications, of Dana
Corporation, 419-535-4813