Dana Corporation Raises Second-Quarter Expectations

May 15, 2002

    TOLEDO, Ohio, May 15 /PRNewswire-FirstCall/ -- In response to a question
during a meeting with analysts today, Dana Corporation (NYSE: DCN) said that
it now expects its second-quarter earnings before non-recurring items to be in
the range of 33 to 35 cents per share.  The company had previously said it
expected earnings of 28 cents per share before non-recurring items.  The
company attributed the increase to positive results from its cost-reduction
initiatives and a stronger-than-expected rate of light-vehicle production
during the quarter.
    (Photo:  http://www.newscom.com/cgi-bin/prnh/19990903/DANA )
    Dana Corporation is one of the world's largest suppliers of components,
modules and complete systems to global vehicle manufacturers and their related
aftermarkets.  Founded in 1904 and based in Toledo, Ohio, the company operates
some 300 major facilities in 34 countries and employs approximately 70,000
people.  The company reported sales of $10.3 billion in 2001.  Dana's Internet
address is http://www.dana.com .
    The company's earnings expectations contained herein constitute "forward-
looking" statements within the meaning of the Private Securities Litigation
Reform Act of 1995.  These expectations involve certain assumptions and Dana's
actual results may differ from these expectations.  Among the factors that
could affect the company's actual results are the impact of national and
international economic conditions on Dana's production and sales and those of
its vehicular customers, changes in North American light-vehicle manufacturer
dealer incentive programs, and the success and timing of Dana's restructuring
programs.  Dana does not undertake to update these earnings expectations.

SOURCE Dana Corporation

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

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