Kenneth L. Way, Lear Chairman and Chief Executive Officer

- Record first quarter sales - Up 32 percent
- Record first quarter earnings - $.75 per share
- Purchase agreement UT Automotive - Adds $3 billion in sales
- Introduced PVI Method(TM) - Ergonomic total interiors
- Unveiled vehicle for maturing baby boomers - TransG
- Expanded European presence
- Acquired Peregrine Windsor

Net income for the quarter ended April 3, 1999 was $50.3 million, or $.75 per share, compared with $47.3 million, or $.69 per share, in the first quarter of 1998. Operating income for the quarter was $120.4 million, versus $110.7 million for 1998's first quarter. For the most recent quarter, the Company had approximately 900,000 fewer shares outstanding on a weighted average basis.

Net sales for the first quarter of 1999 rose over 32 percent to approximately $2.7 billion, as compared to approximately $2.0 billion in the first quarter of 1998. The $655 million first quarter sales increase was almost evenly split between incremental revenues from Lear's recent acquisitions and internal growth.

Geographically, almost 33 percent of the first quarter's sales increase was attributable to Lear's operations outside of the U.S. and Canada. Sales for Lear's European operations rose 37 percent to $851 million, while sales in the U.S. and Canada increased 36 percent to approximately $1.7 billion. Due to softness in the South American market, first quarter sales in the Rest of World region declined from 182 million to $168 million.

A Fortune 500 Company, Lear Corporation is a top ten automotive supplier, with 1998 sales of $9.1 billion. The Company's world-class products are designed, engineered and manufactured by more than 60,000 employees in over 200 facilities located in 28 countries.