Dana Acquires SPX's Global Engine Parts Business; Acquisition Makes Engine Products a Core Dana Business

    TOLEDO, Ohio, Feb. 10 /PRNewswire/ -- Dana Corporation (NYSE: DCN)
announced today that it has acquired the assets of the worldwide piston ring
and cylinder liner operations of SPX Corporation for $223 million.
    The assets purchased are SPX's Sealed Power Division in the United States,
the operating companies of Sealed Power Europe, and ownership in two North
American joint ventures.  Specifically, the acquisition involves 13 Sealed
Power Division manufacturing facilities in the U.S. and Europe, and three
affiliated manufacturing facilities in Mexico.
    Dana Chairman Southwood J. Morcott said the acquisition provides an ideal
fit with the company's Beyond 2000 strategic plan, elevating Engine Products
to core business status.
    "This is a major addition to our Engine Products Group," Morcott said.
"The excellent reputation of Sealed Power(R) brand products, combined with our
Perfect Circle(R) engine products line, gives Dana a major competitive
presence in the global engine hard parts marketplace."
    According to Hugo Ferreira, group vice president of Dana's Engine Products
Group, the international nature of the acquired operations will also provide
important new customer relationships that support Dana's global growth
initiatives.
    "The engine products of Dana and the Sealed Power Division of SPX are
essentially complementary," Ferreira said.  "Our combined engine product
resources offer efficiencies that will now enable us to better serve our
global customer base."
    Engine Products joins Dana's other core businesses, which include axles,
driveshafts, structural components, sealing products, filtration products,
industrial products and leasing.  By focusing on these core businesses, Dana
has grown them into its most competitive operations, accounting for nearly
90 percent of the company's sales.
    Dana and SPX announced the signing of a letter of intent for this
transaction in August, 1996.
    Dana Corporation is a global leader in the engineering, manufacture and
distribution of products and systems for the vehicular, industrial and
off-highway markets.  Founded in 1904 and based in Toledo, Ohio, Dana operates
facilities in 29 countries with more than 46,000 people.  Its 1996 sales were
$7.7 billion.  It has 40 product research and development centers worldwide.
Dana also owns Dana Credit Corporation, whose Commercial Credit lease
financing operation was a recipient of the 1996 Malcolm Baldrige National
Quality Award.  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