DRRA Dura Automotive Systems

DURA Automotive Systems, Inc. (Nasdaq:DRRA), today announced that it has completed the divestiture of DURA Automotive Systems K�hler GmbH, based in Lippstadt, Germany, to an entity controlled by HANNOVER Finanz Group, headquartered in Hanover, Germany. The divestiture is part of DURA�s evaluation of strategic alternatives for select German operations, as previously announced on February 9, 2006. The DURA K�hler business employs approximately 255 people and generated annual revenues of approximately $58.2 (EUR 45.8) million. The business is a leading automotive supplier of decorative stainless and mild steel parts, including components and assemblies for hinge and door reinforcements, fuel systems, gear and steering assemblies and corrosion testing equipment. �Although DURA K�hler has been an important contributor to DURA Automotive for many years, we believe this divestiture is in the best interests of the company and our stakeholders, as we focus on achieving our restructuring goals,� said Larry Denton, chairman and chief executive officer of DURA. About HANNOVER Finanz Group The HANNOVER Finanz Group, founded in 1979, is a sought-after private equity partner for medium-sized enterprises of all industries. The private equity company ranks among the top providers of venture capital in Germany. Well-known businesses have made use of its management consultancy services. Medium-sized and owner-managed enterprises choose HANNOVER Finanz for its long-term commitment. Transactions up to 150 million Euros can be financed. As the Group�s funds are �evergreens� with unlimited duration, there is no pressure to divest the holdings in the short or medium term. The capital is supplied by large institutional investors in the banking and insurance sectors. Currently, the HANNOVER Finanz Group has capital investments of about 450 million Euros, spread across 60 companies. Since its foundation the group has invested an accumulated total of over 1 billion Euros, and has successfully completed more than 150 projects. About DURA Automotive Systems, Inc. DURA Automotive Systems, Inc., is a leading independent designer and manufacturer of driver control systems, seating control systems, glass systems, engineered assemblies, structural door modules and exterior trim systems for the global automotive industry. The company is also a leading supplier of similar products to the recreation vehicle (RV) and specialty vehicle industries. The company had 2005 sales of $2.35 billion. DURA sells its automotive products to every North American, Asian and European original equipment manufacturer (OEM) and many leading Tier 1 automotive suppliers. DURA is headquartered in Rochester Hills, Mich. Information about DURA and its products is available on the Internet at www.duraauto.com. NOTE TO EDITORS: The "o" in K�hler should have an umlaut. This symbol may not appear properly in some systems. DURA Automotive Systems, Inc. (Nasdaq:DRRA), today announced that it has completed the divestiture of DURA Automotive Systems Kohler GmbH, based in Lippstadt, Germany, to an entity controlled by HANNOVER Finanz Group, headquartered in Hanover, Germany. The divestiture is part of DURA's evaluation of strategic alternatives for select German operations, as previously announced on February 9, 2006. The DURA Kohler business employs approximately 255 people and generated annual revenues of approximately $58.2 (EUR 45.8) million. The business is a leading automotive supplier of decorative stainless and mild steel parts, including components and assemblies for hinge and door reinforcements, fuel systems, gear and steering assemblies and corrosion testing equipment. "Although DURA Kohler has been an important contributor to DURA Automotive for many years, we believe this divestiture is in the best interests of the company and our stakeholders, as we focus on achieving our restructuring goals," said Larry Denton, chairman and chief executive officer of DURA. About HANNOVER Finanz Group The HANNOVER Finanz Group, founded in 1979, is a sought-after private equity partner for medium-sized enterprises of all industries. The private equity company ranks among the top providers of venture capital in Germany. Well-known businesses have made use of its management consultancy services. Medium-sized and owner-managed enterprises choose HANNOVER Finanz for its long-term commitment. Transactions up to 150 million Euros can be financed. As the Group's funds are "evergreens" with unlimited duration, there is no pressure to divest the holdings in the short or medium term. The capital is supplied by large institutional investors in the banking and insurance sectors. Currently, the HANNOVER Finanz Group has capital investments of about 450 million Euros, spread across 60 companies. Since its foundation the group has invested an accumulated total of over 1 billion Euros, and has successfully completed more than 150 projects. About DURA Automotive Systems, Inc. DURA Automotive Systems, Inc., is a leading independent designer and manufacturer of driver control systems, seating control systems, glass systems, engineered assemblies, structural door modules and exterior trim systems for the global automotive industry. The company is also a leading supplier of similar products to the recreation vehicle (RV) and specialty vehicle industries. The company had 2005 sales of $2.35 billion. DURA sells its automotive products to every North American, Asian and European original equipment manufacturer (OEM) and many leading Tier 1 automotive suppliers. DURA is headquartered in Rochester Hills, Mich. Information about DURA and its products is available on the Internet at www.duraauto.com. NOTE TO EDITORS: The "o" in Kohler should have an umlaut. This symbol may not appear properly in some systems.