Hayes Lemmerz International, Inc. (NYSE: HAZ), today announced results for the second quarter ended July 31, 2000. Second quarter sales were $543 million compared to $544 million in second quarter 1999. Second quarter 2000 diluted earnings per share was $.21, versus $.41 in the second quarter last year. Sales for the first six months of 2000 were $1,138 million compared to $1,132 million in first half of 1999, while 2000 diluted earnings per share for the first half was $.73 compared to $.93 per share last year.

Earnings per share for the second quarter and the first six months were impacted primarily by the drop in heavy truck production in the United States, coupled with the devaluation of the euro versus the dollar. Second quarter results also include the auto companies' model changeover period, and the company experienced certain inefficiencies in the second quarter related to new model production launches. These production inefficiencies will be eliminated as production is ramped up through the third quarter.

The company approved a stock buyback program in the second quarter, to purchase up to $30 million of its common stock outstanding. As of August 31, 2000, the company has acquired close to 1.3 million shares for approximately $18 million.

"Our second quarter global OEM sales volumes continued to remain relatively strong," said Ron Cucuz, Chairman and CEO of Hayes Lemmerz International. "However, our second quarter earnings were below last year as we continued to be impacted by lower truck production in the U.S. and the euro devaluation. We have taken actions to reduce manpower and other costs in our heavy truck business, as well as to target incremental market share, to maintain margins. We also had several new model launches in the second quarter and we experienced certain operating inefficiencies that will dissipate as these new products reach full production.

"We continue to successfully expand aluminum wheel capacity in the United States, Mexico, the Czech Republic, Thailand and South Africa to meet the strong demand for our aluminum wheels globally. Our North American steel wheel business is benefiting from the major restructuring and introduction of innovative new products the last several years, and is delivering strong results, while the restructuring program for our steel wheel business in Europe continues on target this year.

"We also continued to strengthen our strategic position as a leading supplier of suspension components," continued Ron Cucuz. "We continue to gain significant new contracts in North America. We also announced the formation of our European Chassis Components Group in late 1999 and recently announced the acquisition of the Schenk foundry in Germany, positioning ourselves to grow our aluminum suspension business in Europe as well."

Hayes Lemmerz International, Inc. is a leading supplier of automotive and commercial highway wheels, brakes, powertrain, suspension, structural and other lightweight components. The company has annual sales of $2.3 billion, with 46 plants, 6 joint venture facilities and over 15,000 employees worldwide.