Dana Corporation (NYSE: DCN) has been recognized for its innovative Supply-Chain Management, Global e-Procurement Initiative, and Virtual Time Engineering(TM) programs earning top honors for the Best Application of E-Commerce at the Automotive World 2000 Global Automotive Awards.

The prestigious award, which was presented September 27 at the Paris Automotive Show, honors the most innovative use of on-line systems with tangible benefits to consumers and the supply chain in the automotive industry.

Dana is implementing a web-enabled e-purchasing and supply chain management system to enable the company to more efficiently manage its $8 billion in annual worldwide purchases. The anticipated benefits include increased value with preferred suppliers, significantly reduced transaction expenses, consolidated information on supplier performance, and reduced inventory requirements.

"Technology and innovation help to spawn more efficient methods to better serve our customers. For example, Dana has targeted significant improvements in supply-chain management as a key business objective going forward," said Joe Magliochetti, Dana's chairman and chief executive officer.

"We have developed some aggressive goals over the next four years, including an efficient consolidation in our key suppliers and significant cumulative savings in procurement cost and transaction expenses. We expect that our global e-commerce initiatives will enable Dana to utilize the Internet to gain a competitive advantage in the automotive supplier industry," he said.

Dana's Virtual Time Engineering(TM) program allows Dana to provide engineering solutions for its customers around the clock, around the world. Global technology centers enable Dana people to work on projects continuously. When engineers in Japan reach the end of their shifts, for example, the project can be forwarded to engineers in Europe, who work on it through their shifts, and pass it to engineers in North and South America, who do the same. In this way, Dana engineers are literally working around the clock to provide innovative solutions that help Dana's customers be first to market.

Dana was also a finalist in three other categories: Best use of Technology for its Robo-Clamp(TM) hydroform press; Manufacturing Award for its magnetic- pulse joining of metals and composites; and Most-Promising Technology for its sensor-embedded gaskets.

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 some 320 major facilities in 32 countries and employs more than 80,000 people. The company reported sales of $13.2 billion in 1999. Dana's Internet address is www.dana.com .