Lear Corporation Acquires United Technologies Automotive

    SOUTHFIELD, Mich., May 4 /PRNewswire/ -- Lear Corporation (NYSE:   LEA)
 today announced that it has completed the acquisition of United Technologies
 Automotive, the former subsidiary of United Technologies Corporation, for $2.3
 billion.  UT Automotive has 46,000 employees operating from 145 locations and
 had 1998 revenues of $3.0 billion.
     "UT Automotive is a great strategic fit for Lear -- it enhances our
 instrument panel, headliner and door panel capabilities in North America, and
 positions Lear as the third largest supplier in the $20 billion global
 automotive electrical distribution systems market," said Ken Way, Lear
 Chairman and Chief Executive Officer.  "Not only will the acquisition expand
 our market opportunities, but it is accretive right out of the box and we
 expect it to create excellent financial returns on a long-term basis.
     "It also positions Lear as the ultimate automotive interior integrator,"
 Way added.  "Lear now has the unique capability to provide all interior
 modules and link them through an electrical and electronic 'neural network.'"
     Lear Corporation, a Fortune 200 company headquartered in Southfield,
 Michigan, is the world's largest supplier of automotive interiors, with 1998
 proforma sales of $13 billion.  The company's world-class products are
 designed, engineered and manufactured by more than 100,000 employees in over
 300 facilities located in 33 countries.  Information about Lear and its
 products is available on the Internet at http://www.lear.com.
     This Lear Corporation news release contains forward-looking statements
 within the meaning of the Private Securities Litigation Reform Act of 1995.
 Actual results may differ materially from the anticipated results due to
 certain risks and uncertainties, including but not limited to general economic
 conditions in the markets in which Lear operates, fluctuations in the
 production of vehicles for which the Company is a supplier, labor disputes
 involving the Company or its significant customers, risks associated with
 conducting business in foreign countries and other risks detailed from time to
 time in the Company's Securities and Exchange Commission filings.
 
 

SOURCE Lear Corporation

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