Dana Corporation (NYSE: DCN - news) announced today that it has been awarded a significant contract to supply a wide range of axles to a major North American automotive manufacturer.

The contract calls for Dana to produce at least three size ranges of axles for passenger and cargo vans. Dana expects to supply the axles beginning in model year 2003.

"We are extremely excited to support the light axle needs of this important new program," said Bill Carroll, President of Dana's Automotive Systems Group. "This new Spicer® axle business incorporates advanced gear designs and manufacturing processes to meet the requirements of this demanding application."

The axles, which will be outfitted with disc brakes, will be produced at Dana's Columbia, Mo., Spicer Light Vehicle Axle Division facility and Dana's Buena Vista, Va., Spicer Light Truck Axle Division facility.

Spicer Light Axle Group is part of Dana's Automotive Axle Products Group, which consists of more than 25 manufacturing, assembly, and research and development facilities in 16 nations. The axle operations are part of Dana's Automotive Systems Group, which provides under-the-vehicle technologies and integrated modules and systems to customers anywhere in the world. The Automotive Systems Group encompasses advanced innovations in driveline systems including Spicer® axles and driveshafts, Parish® structures and technologies in chassis systems sub-structures incorporating engine and axle cradles, Nakata® steering and suspensions, FTE® automotive brake and clutch systems, and a systems engineering integration and logistics unit.

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 320 major facilities in 32 countries and employs more than 82,000 people. The company reported sales of $13.2 billion in 1999. Dana's Internet address is www.dana.com.