Dana Corporation Intends to Sell English Forging Operations

    TOLEDO, Ohio, Jan. 29 /PRNewswire/ -- Dana Corporation (NYSE: DCN) today
announced its intention to sell its forging operations in Kirkstall, Leeds,
England.
    (Photo:  http://www.newscom.com/cgi-bin/prnh/19990903/DANA )
    The operations, part of Dana's Spicer Specialty Axle Division, produce
forgings for on- and off-highway axle applications and also provide complete
machining capabilities for axles and other products, including those for the
oil and gas industries.  The facility employs approximately 200 people.
    Dana's Spicer Specialty Axle Division plans to retain the engineering and
sales responsibilities for the facility's finished drive, front-steer, and
non-drive steer axle products.
    "The decision to sell the forging operation was difficult to make and is
absolutely no reflection on the talented people within the Spicer Specialty
Axle Division," said Nick Cole, president of the Off-Highway Systems Group.
"Forging is simply not a core Dana technology and has become less strategic
for us.  We believe the forging operation will have greater potential with a
company that considers forging central to its business."
    Dana has retained the investment-banking firm of CIBC World Markets to
assist in the transaction.  Dave Demeter, at (312) 750-8745, or David Lefever,
at (212) 856-6006, can be contacted for further information.
    Dana Corporation is one of the world's largest suppliers to vehicle
manufacturers and their related aftermarkets.  Founded in 1904, and based in
Toledo, Ohio, the company operates approximately 320 major facilities in
32 countries and employs more than 75,000 people.  The company reported sales
of $13.2 billion in 1999.  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 results, performance and 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 to locate a suitable buyer for
the Kirkstall operation and to negotiate mutually acceptable terms of
transfer.  Additional factors are detailed in Dana's public filings with the
Securities and Exchange Commission.

SOURCE Dana Corporation

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

Photo Notes: http://www.newscom.com/cgi-bin/prnh/19990903/DANA
Company News On Call: Company News On-Call:
http://www.prnewswire.com/comp/226839.html or fax, 800-758-5804,
ext. 226839