Tower Automotive Provides Update on First-Quarter Outlook; Company to Present At the Morgan Stanley Dean Witter Global Automotive Conference Today

Apr 11, 2001, 01:00 ET from Tower Automotive, Inc.

    GRAND RAPIDS, Mich., April 11 /PRNewswire/ --
     Tower Automotive, Inc. (NYSE:   TWR) will make a presentation in connection
 with the 16th Annual Global Automotive Week Conference today and in connection
 with such presentation will provide a general update on the outlook for
 first-quarter operating results for the period ended March 31, 2001.
     The company believes that revenues and operating earnings for the first
 quarter will be similar to fourth-quarter 2000 revenues of $629 million and
 operating earnings of $38 million, excluding the fourth-quarter restructuring
 charge.  Operating earnings for the first quarter of 2001, as compared to the
 first quarter of 2000, were impacted by lower than anticipated Ford Explorer
 sales and higher related launch costs incurred during the 2001 period.  In
 addition, other weaknesses in North American revenues contributed to a
 reduction in operating earnings when compared to the first quarter of 2000.
 The company plans to release first-quarter 2001 results on April 19.
     Based upon the preliminary estimates of earnings for the period, the
 company estimates availability under its revolving credit facility to be
 between $85 million and $95 million.  Overall revolver capacity, unlimited by
 covenants under the revolving credit facility, is approximately $400 million.
     Tower Automotive, Inc. produces a broad range of assemblies and modules
 for vehicle structures and suspension systems for the automotive
 manufacturers, including Ford, DaimlerChrysler, GM, Honda, Toyota, Nissan,
 Auto Alliance, Fiat, Kia, Hyundai, BMW and Volkswagen.  Products include body
 structural assemblies such as pillars and package trays, control arms,
 suspension links, engine cradles and full frame assemblies.  The company is
 based in Grand Rapids, Mich., and has its corporate office in Minneapolis,
 Minn.
     This 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 as a result of certain risks
 and uncertainties, including but not limited to the finalization and standard
 review of the first-quarter results, and other risks detailed from time to
 time in the company's Securities and Exchange Commission filings.
 
 

SOURCE Tower Automotive, Inc.
    GRAND RAPIDS, Mich., April 11 /PRNewswire/ --
     Tower Automotive, Inc. (NYSE:   TWR) will make a presentation in connection
 with the 16th Annual Global Automotive Week Conference today and in connection
 with such presentation will provide a general update on the outlook for
 first-quarter operating results for the period ended March 31, 2001.
     The company believes that revenues and operating earnings for the first
 quarter will be similar to fourth-quarter 2000 revenues of $629 million and
 operating earnings of $38 million, excluding the fourth-quarter restructuring
 charge.  Operating earnings for the first quarter of 2001, as compared to the
 first quarter of 2000, were impacted by lower than anticipated Ford Explorer
 sales and higher related launch costs incurred during the 2001 period.  In
 addition, other weaknesses in North American revenues contributed to a
 reduction in operating earnings when compared to the first quarter of 2000.
 The company plans to release first-quarter 2001 results on April 19.
     Based upon the preliminary estimates of earnings for the period, the
 company estimates availability under its revolving credit facility to be
 between $85 million and $95 million.  Overall revolver capacity, unlimited by
 covenants under the revolving credit facility, is approximately $400 million.
     Tower Automotive, Inc. produces a broad range of assemblies and modules
 for vehicle structures and suspension systems for the automotive
 manufacturers, including Ford, DaimlerChrysler, GM, Honda, Toyota, Nissan,
 Auto Alliance, Fiat, Kia, Hyundai, BMW and Volkswagen.  Products include body
 structural assemblies such as pillars and package trays, control arms,
 suspension links, engine cradles and full frame assemblies.  The company is
 based in Grand Rapids, Mich., and has its corporate office in Minneapolis,
 Minn.
     This 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 as a result of certain risks
 and uncertainties, including but not limited to the finalization and standard
 review of the first-quarter results, and other risks detailed from time to
 time in the company's Securities and Exchange Commission filings.
 
 SOURCE  Tower Automotive, Inc.