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Dana Corporation

Dana Europe Continues Business as Usual

NEU- ULM, Germany, March 6 (ots/PRNewswire)

The European operations of Dana Corporation (NYSE: DCN) opened for
business as usual today, even though their parent company in the
United States commenced a chapter 11 reorganization case last Friday,
March 3, 2006. Dana Europe is not part of the U.S. chapter 11 case,
nor are any of Dana Corporation's operations in Latin America,
Mexico, Canada, and Asia Pacific. The U.S. chapter 11 process is not
intended to have any effect on these international operations.
"We have the ability to stand on our own, independent of what
happens in the U.S.," said Ralf Goettel, President of Dana Europe.
"We will continue to act in a coordinated and global way to meet the
needs of our customers worldwide. Here in Europe our customers can
continue to rely on Dana for quality products -- delivered on time
and to exact specification. Our suppliers can expect to continue to
be paid on time for all the goods that they have shipped or will ship
to us. Nothing has changed."
Prior to the filing of the U.S. chapter 11 case, arrangements were
made to provide Dana's international subsidiaries -- including those
in Europe -- with uninterrupted access to financing for their day to
day operations, as well as access to working capital to enable them
to continue to meet their obligations to customers, suppliers,
employees, taxing authorities, and all other constituents in a timely
"Almost one third of our business comes from specialty
construction, agricultural and other specialty vehicles. Much of the
rest comes from working closely with European manufacturers. This is
a completely different market quite separate from the problems facing
the U.S. automotive supplier industry, Dana's operations in Europe
continue to be profitable and financially strong," added Mr. Goettel.
"We look forward to even greater success in the future."
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 annually. A
leading supplier of drivetrain, chassis, structural, and engine
technologies, Dana employs 46,000 people in 28 countries. Based in
Toledo, Ohio, the company reported sales of US$9 billion in 2004.
Dana's Internet address is
Forward-Looking Statements
Statements in this release which are not entirely historical
constitute "forward-looking" statements within the meaning of the
Private Securities Litigation Reform Act of 1995. These statements
represent Dana's expectations based on our current information and
assumptions. However, forward-looking statements are inherently
subject to risks and uncertainties and Dana's actual results could
differ materially from those that are anticipated or projected due to
a number of factors. These factors include the cyclical nature of the
vehicular markets we serve, particularly the heavy-duty commercial
vehicle market; changes in the competitive environment in our markets
due, in part, to outsourcing and consolidation by our customers;
changes in national and international economic conditions that affect
our markets; potential adverse effects on our operations and business
from terrorism or hostilities; the strength of other currencies in
the overseas countries in which we do business relative to the U.S.
dollar; increases in our commodity costs (including steel, other raw
materials, and energy) that we cannot recoup in our product pricing;
our success in implementing our cost-savings, lean manufacturing and
VA/VE (value added/value engineering) programs; changes in business
relationships with our major customers and in the timing, size and
continuation of their programs; the ability of our customers to
maintain their market positions and achieve their projected sales and
production levels; the ability of our suppliers to maintain their
projected production levels and furnish critical components for our
products, as well as other necessary goods and services; competitive
pressures on our sales from other vehicle component suppliers; price
reduction pressures from our customers; and other factors set out in
our public filings with the Securities and Exchange Commission.
Forward-looking statements in this release speak only as of the date
of the release. Dana does not undertake to update such
forward-looking statements.
    Chuck Hartlage
    Dana Corporation
Web site:


Chuck Hartlage of Dana Corporation, +1-419-535-4728

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