Dana Board Elects President Joseph Magliochetti Chief Operating Officer; Company Announces Evolution to Market-Focused Business Unit Organization

Dec 8, 1997

    TOLEDO, Ohio, Dec. 8 /PRNewswire/ -- The Board of Directors of Dana
Corporation (NYSE: DCN) today announced that it has expanded the
responsibilities of President Joseph Magliochetti by electing him to the
position of President and Chief Operating Officer of the company.
    Magliochetti, a 31-year Dana veteran, will assume direct operating
responsibility for all domestic and international operations of the company,
except Leasing Services.  Previously, some of the international operations
reported to Executive Vice President Carl Hirsch, who will retire during the
first quarter of 1998.
    Dana Chairman and Chief Executive Officer Southwood J. Morcott will
maintain responsibility for the company's strategic direction, financial,
legal, administrative, and public affairs functions.
    This change further supports a reorganization into six customer- and
market-focused global business units, which took place during the fourth
quarter of 1997.  These units encompass the company's key market areas:
automotive components, engine components, heavy truck components, off-highway
components, industrial components, and leasing services.  These business units
will report to Magliochetti, with the exception of Dana Commercial Credit, the
company's leasing services unit, which will continue to report directly to
    "The appointment of Joe Magliochetti to Chief Operating Officer is a very
positive, natural step for both Joe and Dana," Morcott said.  "We are now
organized into a more classic business structure.  This positions the
operations of Dana, under Joe's leadership, to be more focused, agile, and
better aligned with our global customers and markets."
    Commenting on the new global structure, Magliochetti said, "I'm excited
about our new global business unit organization because it better enables us
to be more responsive to our customers and provide more complete support for
their global growth plans.  We can now better leverage our total resources to
provide customers with greater speed to market, coordinated and innovative
system and product solutions, and our hallmark quality and customer service
anywhere in the world."
    Magliochetti joined the Victor Manufacturing Company of Chicago in 1966.
Following Dana's acquisition of Victor in 1967, he served in a variety of
sales, engineering, and manufacturing positions at several divisions.  In
1978, he was promoted to general manager of the Spicer Clutch Division.  He
was appointed president of Dana Europe in 1980 and lived in London for five
years, heading the company's operations in Europe and the Middle East.
    In 1985, he returned to the U.S. as a group vice president of North
American Operations with a focus on industrial and off-highway customers.  He
was named president of Automotive - North American Operations in 1990 and
president of North American operations in 1992.  He was promoted to president
of Dana Corporation in 1996, and elected to its Board of Directors later that
year.  Magliochetti attended the University of Illinois, and completed the
Harvard Advanced Management Program, and the Hillsdale College Management
Development Program.
    Dana's six global Strategic Business Units are:

    Automotive Components Group - Bill Carroll, President
    The Automotive Components Group serves the global passenger car and light
truck markets with 91 facilities and four engineering centers located in
22 countries.
    * The Group provides global vehicle manufacturers with product and system
      support.  Products include Spicer(R) light axles, Spicer(R) driveshafts,
      and Parish (R) structural components.
    * The Group also includes a modular systems team that combines these
      components into an array of modules and systems providing further value
      to Dana customers.
   The Automotive Components Group is headed by Bill Carroll, a 26-year Dana
veteran who has served in a wide variety of roles, including an international
assignment as President of Dana Canada.

    Engine Components Group - Chuck McNamara, President
    The Engine Components Group provides engine components and systems for a
broad range of power sources, including engines for on- and off-highway
vehicles, and marine and aviation applications.
    * The Group accomplishes this with people located in 65 facilities and
      eight R&D centers in 16 nations.  Its products include Perfect Circle(R)
      piston rings, pistons, liners, and camshafts; a series of filtration
      products, including Wix(R) oil, air, fuel, hydraulic, and specialty
      filters; and sealing products, including Victor Reinz(R) gaskets and
      other sealing products.
    * With this product diversity, the Engine Components Group is the only
      single entity that can approach global engine manufacturers and offer to
      seal the entire engine with its own products.
    With 34 years of Dana experience, Group President Chuck McNamara has
served in a variety of sealing products and aftermarket posts, including an
international assignment in Mexico City.

    Heavy Truck Components Group - Rick Clayton, Vice President
    The Heavy Truck Components Group serves the global market for Class 6, 7,
and 8 trucks.
    * The Group currently serves these worldwide customers through
      16 facilities and two technical centers in five countries.
    * Products include heavy axle and brake products, drivetrain components,
      including power take-offs, trailer products, and a heavy systems
      assembly division.
    * Upon completing its purchase of Eaton's global heavy axle and brake
      operations, currently undergoing regulatory review, the Group expects to
      achieve further diversity and technology in the heavy axle and brake
    Group head Rick Clayton is a 14-year Dana veteran with experience in five
Dana divisions and an international assignment in Germany.

    Off-Highway Components Group - Nick Cole, President
    Dana's Off-Highway Components Group serves more than 700 global customers
by providing products for the agricultural, mining, forestry, leisure/utility,
material handling, construction, specialty chassis, and outdoor power
equipment markets.
    * Following its 1997 acquisition of Clark-Hurth Components and recent
      addition of Dana's Gresen Hydraulics, the Group now has more than
      4,500 people and 19 manufacturing operations in seven countries.
    * Dana's key components for these markets are Spicer(R) and Spicer Clark-
      Hurth(R) off-highway axles, powershift transmissions, transaxles,
      electronic controls, and Gresen(R) hydraulic valves and pumps.
    The Group is headed by Nick Cole, a 30-year Dana veteran with experience
in the structural, engine, and off-highway arenas.  Cole currently splits his
time between the United States and Italy managing Dana's global off-highway

    Industrial Components Group - Mike Plumley, Vice President
    Diversity is the hallmark of Dana's Industrial Components Group, which
serves more than 9,600 customers in 56 nations.
    * The Group manufactures an incredibly diverse range of components and
      systems with operations in 18 countries.
    * Products include Warner Electric(R) clutches, brakes, linear actuators,
      motors, speed drives, lighting controls, and motion/voltage control and
      conditioning products.  In addition, it includes Boston(R) and
      Weatherhead(R) industrial products, which encompass a wide array of
      hoses and couplings for the transfer of fluids and other materials.
    Group head Mike Plumley, a 25-year veteran of the rubber products industry
who came to Dana through its 1995 acquisition of Plumley Companies, is an
internationally-recognized expert in Japanese business.

    Dana Commercial Credit - Ed Shultz, President
    Dana Commercial Credit, a 1996 winner of the Malcolm Baldrige National
Quality Award, serves customers in the United States, Canada, United Kingdom,
and Continental Europe.
    * Its products include Capital Markets, Dealer Products, Diversified
      Capital, Asset Management, Shannon Properties, and Technology
    * Dana Commercial Credit serves its selected global customers with
      11 facilities and approximately $1.8 billion in assets.
    With 31 years at Dana, DCC President Ed Shultz served in several Dana
divisions - including international service with Dana's Canadian operations -
prior to establishing the leasing company that became Dana Commercial Credit.

    Dana Corporation is a global leader in the engineering, manufacture, and
distribution of products and systems for the automotive, engine, heavy truck,
off-highway, and industrial markets.  It also operates a leasing services
business which, in 1996, received the 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.
The Internet address for Dana's home page is www.dana.com.

SOURCE  Dana Corporation

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