Dana Corporation Completes Notes Placement

    TOLEDO, Ohio, March 11 /PRNewswire-FirstCall/ -- Dana Corporation (NYSE:
DCN) announced today the completion of its private placement of $250 million
in 8-year, unsecured senior notes.
    (Photo:  http://www.newscom.com/cgi-bin/prnh/19990903/DANA )
    The notes bear a coupon of 10.125 percent and were priced at 98.659 to
yield 10.375 percent.  The company will use the proceeds from the offering to
repay outstanding indebtedness.
    The securities offered have not been registered under the Securities Act
of 1933 and may not be offered or sold in the United States absent
registration or an applicable exemption from registration requirements.
    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 .

SOURCE Dana Corporation

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

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