Dana Chief Financial Officer John S. Simpson Announces Retirement Toledo, Ohio (ots-PRNewswire) - Dana Corporation (NYSE: DCN)announced today that John S. "Jack" Simpson, Dana executive vicepresident and chief financial officer, will retire from thecompanyDec. 31, 1999. Simpson has served as CFO since 1997 and waspromotedto the position of executive vice president in 1998. Robert C.Richter, who currently serves as Dana's vice president forfinanceand administration, will succeed him. Simpson is retiring after a 26-year career with Dana thatincludedservice as vice president of finance and treasurer of the companyandpresident of Dana Asia Pacific. "Jack is a man of great personal integrity, who has helpedleadDana Corporation through some of the most successful years in itshistory," said Dana Chairman Southwood J. Morcott. "His extensiveanddiversified financial background, his first-hand experience, andhisdemonstrated business acumen have been tremendous assets to Danaasthe company entered a period of unprecedented growth and change." "Jack has provided Dana Corporation with stellar leadershipandcounsel amid a period of tremendous growth and change," said DanaPresident and Chief Executive Officer Joe Magliochetti. "He hashad atremendous impact on Dana's merger, acquisition, and divestiturestrategy. In fact, our company has grown from sales of $7.6billion,when he was appointed treasurer, to a company projecting sales ofmore than $13 billion in 1999 -- all with a sharpened focus oncorecompetencies." Simpson joined Dana in 1973 as controller of its SecoElectronicsoperation in Lancaster, S.C. In 1976, he moved to Dana'sIndustrialPower Transmission Division as treasurer and, in 1978 he wasappointed controller of the Perfect Circle Products Division inRichmond, Ind. Simpson became director of international financeforDana in 1982 and vice president of finance for Warner Electric in1985. He was named president of Dana's Diamond Savings & Loan in1987. In 1992, Simpson was promoted to president of Dana AsiaPacific. He was appointed vice president of finance and treasurerofDana effective Jan. 1, 1996. He was promoted to chief financialofficer and named to the Dana Policy Committee in January 1997. Simpson is a graduate of the University of Minnesota and hascompleted the Harvard Business School Advanced ManagementProgram, aswell as management programs at the University of Wisconsin andtheUniversity of California. In addition, he served in the UnitedStatesArmy, first in Korea and then as a combat veteran in Vietnam. Heis amember of the Board of Trustees of Siena Heights University,Adrian,Mich., and serves on the Council for International BusinessEducationat the University of Michigan. Dana Corporation is one of the world's largest independentsuppliers to vehicular manufacturers and their relatedaftermarkets.Founded in 1904 and based in Toledo, Ohio, the company operates338major facilities in 32 countries and employs more than 86,000people.The company had sales of $12.5 billion in 1998. Dana's Internetaddress is www.dana.com . Biographical Information Robert C. Richter Vice President - Finance and Administration Dana Corporation Bob Richter is a 25-year Dana veteran whose diverse backgroundincludes experience in a variety of financial and operatingresponsibilities. In 1983 he was elected assistant treasurer ofDanaCorporation. He was appointed senior vice president of Hayes-Dana,Inc. in Canada in 1985, and in 1987 he returned to the UnitedStatesas corporate controller. He relocated to France to become vicepresident and general manager of Perfect Circle Europe in 1994andbecame general manager of the combined division of Perfect CircleSealed Power Europe after the acquisition of Sealed Power in1997.Later in the year, he was named vice president - administration.In1998, Richter was promoted to vice president - finance andadministration, assuming responsibility for a variety ofcorporatefinancial functions. "Bob has broad experience and has demonstrated strongleadershipin all aspects of financial management. He will be workingcloselywith Jack Simpson during this transitional period," said JoeMagliochetti, president and CEO. Southwood J. Morcott, chairman of the board, said, "Bob willbe astrong contributor to Dana's global growth. Along with hisbreadth offinancial and operational experience, he has spent 20 percent ofhisDana career outside of the United States, has lived on threecontinents, and has foreign language capabilities." A native of Heidelberg, Germany, Richter received a bachelor'sdegree from Miami University and an MBA from Bowling Green StateUniversity. He also has completed Harvard's Advanced ManagementProgram. Richter is a member of Dana's World Operating Committee, andinthe past has served as a member of Dana's European OperatingCommittee and the South American Operating Committee and aschairmanof the Investment Committee. He is currently a member of theFinancial Executives Institute, the Strategic Planning Council oftheManufacturers' Alliance for Productivity and Innovation (MAPI),andthe International Business Advisory Committee for the School ofBusiness Administration of Bowling Green State University. He isapast member of the Advisory Council for the School of AppliedScienceof Miami University, the Board of Directors of Flower MemorialHospital, and the Young Leader's Council of the United Way ofGreaterToledo.ots Original Text Service: Dana CorporationInternet: http://www.newsaktuell.deContact:Gary Corrigan of Dana(USA) 419-535-4813Company News On-Call:http://www.prnewswire.com/comp/226839.html orfax, (USA) 800-758-5804, ext. 226839Web site: http://www.dana.come-mail:

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