The wheels will be made for the successor to the C-Class mid sized sedan that is expected to begin production in May 2000. The wheels will be shipped to DaimlerChrysler's plants in Bremen and Sindelfingen, Germany.

The wheels are expected to be made at the Hayes Lemmerz facility in Konigswinter, Germany, the headquarters of Hayes Lemmerz's European Fabricated Wheels division. The facility makes fabricated steel wheels for passenger cars, vans, recreational vehicles, passenger car trailers, light and heavy trucks, and trailers.

"We are proud to be a member of the DaimlerChrysler team and look forward to building the wheels for this next generation vehicle," said Klaus Unger, President of the European Fabricated Wheels division. "We look forward to making these wheels and millions of others for DaimlerChrysler as we venture into the new millennium.

"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.'"

In March 1999, Venture announced that it had entered into an agreement to acquire Peguform GmbH, a leading international designer and manufacturer of complete interior modules, door panels and dash boards; and of exterior modules and other structural plastic body parts, including bumper fascias and hatchback doors. Venture intends to finance a portion of the purchase price of the acquisition with an offering of $250.0 million of unsecured Senior Subordinated Notes and $125.0 million of unsecured Senior Notes. The net proceeds from the offerings, together with the proceeds from secured borrowings to be made available from a commercial bank group, will be used for the acquisition, to redeem Venture's 9-3/4% Senior Subordinated Notes due 2004 at a redemption price of 104.875%, to repay amounts outstanding under Venture's existing secured credit facility, and for working capital and other general corporate purposes. Venture expects the Notes to be privately placed to a group of institutional investors pursuant to Rule 144A of the Securities Act of 1933. The Notes being offered have not been registered and will not be registered under the Securities Act of 1933 and may not be offered or sold in the United States absent registration or applicable exemption from the registration requirements.