FOR IMMEDIATE RELEASE CONTACTS:
LEAR SEATING CORPORATION INFORMATION AGENT:
MEDIA: D. F. KING AND CO., INC. LESLIE TOUMA BANKS AND BROKERS:
LEAR SEATING CORPORATION COMMENCES CASH TENDER
OFFER FOR AUTOMOTIVE INDUSTRIES HOLDING, INC.
SOUTHFIELD, MI, JULY 20, 1995 -- Lear Seating Corporation (NYSE: LEA) announced today that AIHI
Acquisition Corp., its wholly-owned subsidiary, has commenced a cash tender offer for all outstanding shares of
Class A common stock of Automotive Industries Holding, Inc. (NASDAQ: AIHI) at $33.50 per share.
The offer is being made pursuant to the previously announced merger agreement between Lear Seating
Corporation and Automotive Industries Holding, Inc. The offer is conditioned upon, among other things, the
tender of a majority of the shares outstanding on a fully diluted basis and the receipt by Lear of sufficient financing
for the acquisition. Lear has obtained a commitment letter from Chemical Bank to provide the necessary funding
for the acquisition.
The offer and withdrawal rights are scheduled to expire at midnight, New York City time on Wednesday, August
16, 1995. Lehman Brothers, Inc. is acting as the Dealer Manager for the tender offer and D. F. King and Co.,
Inc. is serving as the Information Agent for the offer.
A Fortune 500 Company, Lear Seating Corporation is the world's leading supplier of automotive seating
systems, with annual revenues of $3.1 billion. Lear's world class products are manufactured by over 25,000
employees located in 79 facilities around the world.
(810) 746-1678 (212) 269-5550
ANALYSTS: ALL OTHERS:
JONATHAN PEISNER 1-800-848-3094