Dana Corporation Increases Dividend to 12 Cents Per Share

Dana Corporation Increases Dividend to 12 Cents Per Share 


TOLEDO, Ohio, Feb. 10  /PRNewswire-FirstCall/ -- Citing continued confidence in
the company's performance and direction, the Board of Directors of Dana
Corporation  today declared a dividend on the company's common stock of 12 cents
per share, an increase of 6 cents per share from the previous payment.  The
dividend is payable on March 15, 2004, to shareholders of record on March 1,
2004.

(Logo:  http://www.newscom.com/cgi-bin/prnh/19990903/DANA )

"We are pleased that Dana's improving performance and stronger balance sheet
have enabled us to provide our shareholders with another significant dividend
increase," said Dana Chairman Glen Hiner.  "Coming on the heels of the increase
made in the fourth quarter, this increase brings Dana's dividend payout more in
line with levels typical of the sector, while also reflecting our continued
confidence in the company's direction."

He continued, "Dividends remain an important component of the returns we provide
to Dana shareholders.  Looking ahead, all future dividends will be considered by
striking an appropriate balance between Dana's performance, our relative
financial position, and the continued need to invest in the growth of our core
businesses."

Dana Corporation is a global leader in the design, engineering, and manufacture
of value-added products and systems for automotive, commercial, and off-highway
vehicle manufacturers and their related aftermarkets.  The company employs
approximately 60,000 people worldwide.  Founded in 1904 and based in Toledo,
Ohio, Dana operates hundreds of technology, manufacturing, and customer service
facilities in 30 countries.  The company reported 2002 sales of $9.5 billion.

Certain statements contained in this release constitute "forward-looking"
statements within the meaning of the Private Securities Litigation Reform Act of
1995.  These statements represent Dana's expectations based on our current
information and assumptions.  Forward-looking statements are inherently subject
to risks and uncertainties.  Dana's actual results could differ materially from
those that are anticipated or projected due to a number of factors.  These
factors include national and international economic conditions; adverse effects
from terrorism or hostilities; the strength of other currencies relative to the
U.S. dollar; the cyclical nature of the global vehicular industry; changes in
business relationships with our major customers and in the timing, size and
continuation of their and our programs; the ability of our customers and
suppliers to achieve their projected sales and production levels; competitive
pressures on our sales and pricing; increases in production or material costs
that cannot be recouped in product pricing; the continued success of our cost
reduction and cash management programs and of our long-term transformation
strategy for the company; the success and timing of the contemplated divestiture
of the Automotive Aftermarket business unit; andother factors set out in our
public filings with the Securities and Exchange Commission.  Dana does not
undertake to update any forward-looking statements in this release. 

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DATASOURCE: Dana Corporation



CONTACT:  Michelle Hards of Dana Corporation, [phone], or





Web site:  http://www.dana.com/



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