Dana Corporation Names Robert C. Richter Chief Financial Officer

    TOLEDO, Ohio, Sept. 21 /PRNewswire/ -- Dana Corporation (NYSE: DCN) has
announced the appointment of Robert C. Richter as vice president and chief
financial officer of the company.  Richter, a 25-year Dana veteran whose
background includes experience in a variety of financial and operating
responsibilities, most recently served as Dana's vice president -- finance and
administration.  In this new role, Richter will report directly to President
and Chief Executive Officer Joe Magliochetti.
    "Bob has broad experience and has demonstrated strong leadership in all
aspects of financial management," said Magliochetti.  "His diverse and solid
background will be a great asset to Dana Corporation as we move forward with
our Five-Point Plan for continued growth and profitability."
    In 1981 Richter was named president of Diamond Financial Holdings and was
heavily involved in the successful restructuring of that group.  In 1983 he
was elected assistant treasurer of Dana Corporation.  Richter was appointed
senior vice president of Hayes-Dana, Inc. in Canada in 1985, and in 1987 he
returned to the United States as corporate controller.  He was appointed vice
president and general manager of Perfect Circle Europe in 1994 and became
general manager of the combined division of Perfect Circle Sealed Power Europe
after the acquisition of Sealed Power in 1997.  Later in the year, he was
named vice president -- administration.  In 1998, Richter was promoted to vice
president -- finance and administration, assuming responsibility for a variety
of corporate financial functions.
    Chairman of the Board Southwood J. Morcott said, "Bob will be a strong
contributor to Dana's global growth.  Along with his breadth of financial and
operational experience, he brings a global business perspective that is
necessary for our company to grow in today's competitive environment."
    A native of Heidelberg, Germany, Richter received a bachelor's degree from
Miami University and an MBA from Bowling Green State University.  He also has
completed Harvard's Advanced Management Program.
    Richter is a member of Dana's Policy Committee and its World Operating
Committee.  In the past he has served as a member of Dana's European Operating
Committee and the South American Operating Committee and as chairman of the
Investment Committee.  He is currently a member of the Financial Executives
Institute, the Strategic Planning Council of the Manufacturers' Alliance for
Productivity and Innovation (MAPI), and the International Business Advisory
Committee for the School of Business Administration of Bowling Green State
University.  He is a past member of the Advisory Council for the School of
Applied Science of Miami University, the Board of Directors of Flower Memorial
Hospital, and the Young Leader's Council of the United Way of Greater Toledo.
    Dana Corporation is one of the world's largest independent suppliers to
vehicle manufacturers and their related aftermarkets.  Founded in 1904 and
based in Toledo, Ohio, the company operates some 330 major facilities in
32 countries and employs more than 86,000 people.  Dana's Internet address is
http://www.dana.com .

SOURCE Dana Corporation

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

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