Dana Commercial Credit Closes Transaction for Properties In Illinois, Pennsylvania

    TOLEDO, Ohio, March 17 /PRNewswire/ -- Dana Commercial Credit Corporation
(DCC), one of the nation's leading leasing and finance companies and an
indirect wholly owned subsidiary of Dana Corporation (NYSE: DCN), acquired
from Pacificorp Financial Services, Inc., the stock of GSPI Corporation, which
owns two facilities on lease to Pearson plc, an international media group.
    The leased facilities include: the Glenview, IL, corporate headquarters of
Scott, Foresman (Addison-Wesley Educational Publishers), one of the leading
U.S. publishers of educational textbooks; and the Scranton, PA,
warehouse/distribution center of HarperCollins Educational Publishing.  Scott,
Foresman and HarperCollins are subsidiaries of Addison-Wesley Longman, a
Pearson subsidiary and industry leader in educational publishing.
    The Scott, Foresman headquarters facility, on a 44-acre site 18 miles
northwest of downtown Chicago, is comprised of four interconnected office
buildings with a total of 229,895 square feet of net rentable building area.
The HarperCollins warehouse is a 296,000-square-foot, interconnected facility
comprised of two, one-story warehouses and a one-story office building.  The
property is located on a 30-acre site, in the Keystone Industrial Park,
approximately three miles northeast of Scranton, PA.
    "This transaction fits in well with our strategy of purchasing quality,
long-term, credit-backed, real estate investments," said Joseph A. Beham, Vice
President and Product Group Manager of DCC's Capital Markets Group.
    Scott, Foresman is a leading U.S. educational publisher in the elementary
and high school markets.  The company also participates in international
markets through export sales to American institutions abroad and sales to
English and Spanish-speaking countries.  In September 1996, Scott, Foresman
was sold to Pearson plc, an international media and entertainment company.
    A subsidiary of Addison-Wesley, HarperCollins is a leading publisher of
general interest fiction, non-fiction texts and children's books, and one of
the world's largest English language publishers.  HarperCollins also has
operations in the U.K., Canada, Australia and New Zealand.
    Dana Commercial Credit provides leasing and financing services to a broad
range of business customers in selected markets.  Activities range from
sales-aided vendor programs with an average ticket size of $25,000 for the
microcomputer industry to capital market transactions valued up to $250
million.  DCC has an international network of offices throughout the United
States, Canada, the United Kingdom, France, Germany and Switzerland.  DCC has
assets owned or under management of $5.2 billion in original asset value.
    DCC's Capital Markets Group (CMG) is DCC's largest product group.  With
assets in excess of $850 million, CMG uses a selective investment philosophy
that focuses on complex, sophisticated financings.  These transactions require
significant financial expertise to provide value through structuring and rapid
response.  Equity investments typically range from $5 million to $45 million
per transaction, and are in the form of leveraged leases, single-investor
leases, project financings, cross-border financings, partnerships, and joint
ventures.  Total transaction size has ranged from $250 million sole DCC
participation to in excess of $2 billion through syndicate participation.
    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 Corporation is based in Toledo,
Ohio, and operates facilities in 30 countries with 50,000 people.  In 1997,
Dana Corporation reported sales of $8.3 billion.

SOURCE  Dana Commercial Credit Corporation

CONTACT: Tricia Akins of DCC, 248-680-4341