Dana Corporation Chairman Proposes 10 Strategic Changes to Stimulate Improved Automotive Industry Performance

    TRAVERSE CITY, Mich., Aug. 7 /PRNewswire-FirstCall/ -- Dana Corporation
(NYSE: DCN) Chairman and CEO Joe Magliochetti yesterday implored automotive
industry leaders to accelerate the pace of change, and suggested 10 strategic
changes to help return the industry to the zenith it previously enjoyed.  Mr.
Magliochetti delivered his remarks to automotive industry leaders attending
the 38th annual University of Michigan Management Briefing Seminars in
Traverse City, Mich.
    (Logo:  http://www.newscom.com/cgi-bin/prnh/19990903/DANA )
    "The speed of change is greater today than at any time in the 100-year-
plus history of the automotive industry," he said.  "And yet, if you consider
our industry's recent results, it's clear that we still have a great distance
to travel with regard to performance."
    Mr. Magliochetti said the need for change is even more pronounced from a
domestic standpoint.  "The 'domestic' product is arguably better than it has
ever been," he said.  "But, the market says it's still not good enough.  From
an American perspective, we must all strive to rekindle the creativity,
ingenuity, and enthusiasm that bred those classic American vehicles and the
innovative accessories that once set the pace in our industry.
    "We need to compete differently in this marketplace," he added.  "We must
chart a new course."
    As part of his presentation, Mr. Magliochetti suggested 10 strategic
changes the industry should adopt to improve today's business model.
    His suggested changes were:

     1.  Work to move from a provincial viewpoint to a truly global
         perspective;
     2.  Acknowledge and address the global demands on suppliers;
     3.  Widen our perspective on global competition;
     4.  Accelerate the pace of change, or face the consequences;
     5.  Grow industry relationships to make collective advances;
     6.  Take advantage of the power of strategic alliances and partnerships;
     7.  Sharpen our focus by pursuing depth, rather than breadth, for
         improved performance;
     8.  Adopt global best practices to meet ever-rising demands;
     9.  Speed technology development to deliver enhanced efficiency and
         value; and
     10. Embrace the modular trend to provide OEMs with comprehensive,
         holistic solutions.

    "Our problems are not OEM problems, labor problems, or supplier problems,"
Mr. Magliochetti added.  "We all have a critical role in the success of our
industry."
    Mr. Magliochetti shared his insights during a presentation titled, "The
New Business Model: Are We Changing Fast Enough?"  The session was part of the
week-long Management Briefing Seminars, a premier gathering of global
automotive industry leaders.
    Dana Corporation is a global leader in the design, engineering, and
manufacture of value-added products and systems for automotive, commercial,
and off-highway vehicle manufacturers and their related aftermarkets. The
company employs approximately 60,000 people worldwide. Founded in 1904 and
based in Toledo, Ohio, Dana operates hundreds of technology, manufacturing,
and customer service facilities in 30 countries. The company reported 2002
sales of $9.5 billion.

SOURCE Dana Corporation

Web Site: http://www.dana.com

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