Dana Corporation Signs Agreement with Permo-Drive Technologies to Commercialize Fuel-Saving Hybrid-Hydraulic Technology for Refuse Industry

TOLEDO, Ohio, Sept. 9, 2005 /PRNewswire-FirstCall/ -- Dana Corporation (NYSE: DCN) announced today that it has signed an agreement with Permo-Drive Technologies of Australia to globally commercialize Permo-Drive's hybrid- hydraulic Regenerative Drive System (RDS™) with an initial focus on refuse vehicles.

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The RDS technology facilitates energy savings and storage during vehicle operation. Commercial vehicles that make frequent starts and stops would realize substantial fuel savings, as well as significant reductions in brake maintenance costs and vehicle emissions. These benefits are especially applicable for refuse collection, where RDS technology captures previously wasted braking energy and reuses it during acceleration.

"Now, more than ever before, our customers are focused on ways to reduce fuel consumption, and Dana, along with Permo-Drive, is committed to delivering viable solutions to those needs," said Michael J. Burns, Dana Chairman and CEO.

"Permo-Drive's board and management are very excited with its relationship with Dana, which now extends beyond the FMTV contract that commenced in October 2003," said Willem de Vylder, Permo-Drive CEO. "What Dana brings to this relationship is a proven record of developing new technologies for the automotive industry."

Dana and Permo-Drive are building on their previous success in customizing RDS technology for the U.S. military. In 2003, Dana and Permo-Drive signed an agreement to develop and commercialize RDS technology for the U.S. Army's Family of Tactical Military Vehicles.

About Permo-Drive Technologies

Permo-Drive Technologies is the global leader in the development of hybrid-hydraulic technology and has offices in Australia and the United States, as well as in the United Kingdom through its agent, Highbury Ltd.

About Dana Corporation

Dana people design and manufacture products for every major vehicle producer in the world. Dana is focused on being an essential partner to automotive, commercial, and off-highway vehicle customers, which collectively produce more than 60 million vehicles every year. A leading supplier of drivetrain, engine, chassis, and structural technologies, Dana employs 46,000 people in 28 countries. The company is based in Toledo, Ohio, and reported sales of $9.1 billion in 2004. Dana's Internet address is http://www.dana.com/.

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SOURCE: Dana Corporation

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

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