Dana Comments on Third-Quarter Performance

Sep 25, 2001

    TOLEDO, Ohio, Sept. 25 /PRNewswire/ -- Dana Corporation (NYSE: DCN) today
revised its expectations for the third quarter.
    (Photo:  http://www.newscom.com/cgi-bin/prnh/19990903/DANA )
    "In the wake of recent events, several of our major customers have
significantly reduced their production schedules," said Chairman and CEO Joe
Magliochetti.  "While we had been performing in line with expectations, on
lower volume we now expect to incur a small loss from operations for the
quarter.  However, net income for the quarter is expected to remain positive
when you include the gains from our previously announced divestitures.
    "We will continue to work diligently at improving those factors that are
within our control and to do whatever it takes to meet our customers' needs
during this challenging period," he added.
    Dana will discuss its third-quarter results during its quarterly
conference call beginning at 10 a.m. EDT on Wednesday, Oct. 17.  The call may
be accessed via Dana's website ( http://www.dana.com ), where it will be accompanied
by a slide presentation, or by dialing (800) 275-3210.  Please dial into the
conference 15 minutes prior to the call.  A recording of this conference call
will be available after 4 p.m. (EDT) on Oct. 17.  To access this recording,
please dial (800) 537-8823 if calling from within the U.S. and Canada, or
(800) 472-8810 if calling from anywhere within Ohio.
    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
75,000 people.  The company reported sales of $12.3 billion in 2000.  Dana's
Internet address is http://www.dana.com .
    Certain statements contained herein constitute "forward-looking"
statements within the meaning of the Private Securities Litigation Reform Act
of 1995.  These statements involve assumptions, uncertainties, and risks; and
Dana's actual future results, performance, or achievements may differ
materially from those expressed or implied in these statements.  Among the
factors that could affect Dana's actual results are the ability of various
vehicular customers and suppliers to achieve projected sales and production
levels, the cyclical nature of the vehicular industry, and international
economic conditions.  Additional factors are detailed in Dana's public filings
with the Securities and Exchange Commission.  Dana does not undertake to
update any forward-looking statements contained herein.

SOURCE Dana Corporation

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

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