Dana Commercial Credit Awarded Apple Canada's Education Finance Lease Program

    TROY, Mich., March 25 /PRNewswire/ -- Dana Commercial Credit Corporation
(DCC), one of North America's leading commercial leasing companies and an
indirect, wholly owned subsidiary of Dana Corporation (NYSE: DCN), is
administering Apple Canada Inc.'s lease program for the entire Canadian
education market.
    DCC is the exclusive lessor of the Apple Education Finance lease program
which has enabled Canadian educators to acquire Apple computer equipment for
students in grades K-12.  The lease program now covers the higher education
market, as well.  Dana Commercial Credit, Canada Inc., in Oakville, Ontario,
is administering the Apple Education Finance lease program.
    The announcement was made today by Patrick M. Moran, DCC's vice president,
Canadian operations, and J. Stephen Gagne, DCC's president and chief operating
officer.
    Adding colleges and universities to the Apple Education Finance lease
program should increase annual program lease volumes by 25 to 50 percent,
primarily because their computer equipment acquisitions are larger than those
of other educational institutions, Moran said.
    "Last year we serviced the grade K-12 market, and received numerous
inquiries from colleges and universities interested in leasing computer
equipment," Moran said.  "Apple Canada recognized that it made sense to use a
single lessor to service the entire sector, and chose DCC because of our
commitment to service and the personal attention we provided school boards.
    "Expansion of the Apple Education Finance program to include colleges and
universities is very important to us because it further strengthens our
relationship with Apple Canada, which we hope will open doors for other
opportunities in the marketplace, including commercial leasing programs."
    According to Moran, the Apple Education Finance program features the
AppleMAX lease option.  In describing this product, he said K-12 schools
typically want to obtain as many computers as possible.  At year-end, the
AppleMAX program enables a school to leverage the equity built up through a
dollar buy-out lease to acquire additional computer equipment, with the lease
terms extended.
    Headquartered in Markham, Ontario, Apple Canada Inc. is a wholly owned
subsidiary of Apple Computer, Inc.  Apple Canada has offices located in
Vancouver, Edmonton, Calgary, Winnipeg, Montreal, Quebec City, Ottawa and
Hamilton.  In Canada, Apple offers an extensive line of products and solutions
through more than 300 Apple Canada dealers.  Channels of distribution include
mainstream computer dealers, value-added resellers, mass merchandisers and
direct sales to education customers.  Apple's mission is to bring the best
personal computing products and support to students, educators, designers,
scientists, engineers, business executives and consumers in more than 140
countries worldwide.
    Dana Commercial Credit provides leasing and financing services to a broad
range of business customers in selected markets.  Activities range from
capital market transactions valued up to $250 million each to sales-aided
vendor programs with an average ticket size of $25,000 for the microcomputer
industry.  DCC has an international network of offices throughout the United
States, Canada, United Kingdom, France, Germany and Switzerland.  DCC has
assets owned or under management of $5.2 billion in original asset value.
DCC's website addresss is www.dcc.com.
    In 1996, DCC received the Malcolm Baldrige National Quality Award from the
U.S. Department of Commerce.  The award is generally recognized as the most
prestigious award an American business can receive for performance excellence.
    Dana Corporation is a global leader in the engineering, manufacturing and
distribution of products and systems for the vehicular, industrial and
off-highway markets.  Founded in 1904, Dana is based in Toledo, Ohio, and
operates facilities in 30 countries with 50,000 people.  In 1997, Dana
reported sales of $8.3 billion.

SOURCE  Dana Commercial Credit Corporation

CONTACT: Tricia Akins of Dana Commercial Credit, 248-680-4341

WEBSITE:   http: //www.dcc.com