FOR IMMEDIATE RELEASE CONTACTS:
LEAR SEATING CORPORATION
LEAR SEATING CORPORATION AND AUTOMOTIVE INDUSTRIES
HOLDING, INC. ENTER INTO DEFINITIVE MERGER AGREEMENT
SOUTHFIELD, MI, JULY 17, 1995 -- Lear Seating Corporation (NYSE: LEA) and Automotive Industries
Holding, Inc. (NASDAQ: AIHI) announced today that they have entered into a definitive merger agreement. The
agreement calls for Lear, the world's leading supplier of seating systems, to acquire Automotive Industries, a
major supplier of high quality interior systems and under the hood components. The combination makes Lear the
largest independent supplier able to provide seating and interior systems to automobile manufacturers worldwide.
Under the merger agreement, AIHI Acquisition Corporation, a wholly-owned subsidiary of Lear, will promptly
commence a cash tender offer for all of the outstanding shares of Automotive Industries common stock for
$33.50 per share. Any shares not purchased in the tender offer will be acquired for the same price in cash in a
second-step merger. Automotive Industries has approximately 18.7 million fully diluted shares outstanding.
Commenting on the acquisition, Kenneth L. Way, Chairman and CEO of Lear Seating Corporation stated, "The
purchase of Automotive Industries, with its excellent people, products and plants, is consistent with our strategy
of broadly expanding Lear's product lines in the light vehicle interior market. This acquisition will position Lear as
the largest fully integrated automotive interior supplier in the world. As the automotive and light truck interior
market in North America and Europe alone exceeded $22 billion in 1994, we are extremely pleased with the
long-term growth opportunities afforded us by this transaction."
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Way continued, "Lear's market leadership, expertise and established relationships with European automobile
manufacturers should allow us to further expand the penetration of Automotive Industries product lines into the