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Bendix-Dana Joint Venture Commences; Bendix Spicer Foundation Brake LLC Begins Operations Kishor Pendse named as President, Bendix Spicer Foundation Brake LLC ELYRIA, Ohio, July 1 /PRNewswire/ -- Bendix Spicer Foundation Brake LLC officially became operational today following corporate approvals from partners Bendix Commercial Vehicle Systems LLC and Dana Corporation (NYSE:DCN). The joint venture -- headquartered in Elyria, Ohio, and with technology centers in Elyria and Kalamazoo, Mich. -- offers a full portfolio of advanced wheel-end braking systems components and technology from the combined parent organizations. It integrates the braking systems expertise from Bendix and the Knorr-Bremse Group, with the axle and brake integration capability of Dana, for a powerful long-term partnership between the organizations. Bendix Spicer Foundation Brake LLC will continue to announce details about the new organization -- including its Web site launch and additional sales and product information -- as they develop in coming weeks. Pendse to Lead Joint Venture Bendix Spicer Foundation Brake LLC today also announced the appointment of Kishor Pendse as president of the organization. Pendse was most recently vice president and general manager, wheel-end business team for Bendix Commercial Vehicle Systems. Prior to joining Bendix in September 2003, he was vice president-Six Sigma at TRW, Inc. in Cleveland, Ohio. In his new position, Pendse will report to the management board of the joint venture and is responsible for its overall strategic leadership, including engineering, management and planning, business development, and product advancements. He will be supported by an assistant general manager who will be appointed by Dana Corporation at a later date. "Kishor is a highly accomplished and experienced professional in the transportation industry. His strong leadership abilities, large-scale project management and implementation skills, along with his vision and extensive knowledge of the automotive and commercial vehicle industry will help our foundation brake joint venture advance to new levels of achievement and innovation," said Joe McAleese, Bendix president and chief executive officer. "His broad experience in marketing, strategy and operations will provide a key ingredient in the joint venture's goal to become the leading North American foundation brake supplier," added Frank Sheehan, vice president of sales, marketing and product planning for Dana's Commercial Vehicle Systems. In his prior role at TRW, Pendse was responsible for successfully implementing the Six Sigma initiative across the worldwide organization. Pendse spent 20 years in various leadership positions in TRW's automotive business, including president of a steering gear manufacturing joint venture and other executive-level positions in technology, market planning and customer development. Pendse, a member of the Society of Automotive Engineers and Mensa, holds a master's degree in business administration from Carnegie Mellon University in Pittsburgh and a bachelor's degree in mechanical engineering from the Indian Institute of Technology in New Delhi, India. He resides in Solon, Ohio, with his wife and two teenage sons. About Dana Corporation Dana Corporation is a global leader in the design, engineering and manufacturing of value-added products and systems for automotive, commercial and off-highway vehicles. The company's continuing operations employ approximately 45,000 people worldwide dedicated to advancing the science of mobility. Founded in 1904 and based in Toledo, Ohio, Dana operates technology, manufacturing and customer-service facilities in 30 countries. Sales from continuing operations totaled $7.9 billion in 2003. Dana's Internet address is http://www.dana.com/ . About Bendix Commercial Vehicle Systems Bendix Commercial Vehicle Systems LLC, a member of the Knorr-Bremse Group, supplies air brake charging and control systems and components, vehicle modules, and leading-edge safety technologies under the Bendix(R) brand name for medium- and heavy-duty trucks, tractors, trailers, buses and other commercial vehicles in North America, Europe and Australia. Employing more than 1,800 people, Bendix is headquartered in Elyria, Ohio, with manufacturing plants in Acuna, Mexico, Frankfort, Ky., and Huntington, Ind. For more information, call 1-800-AIR-BRAKE (1-800-247-2725) or visit http://www.bendix.com/ . For more information, contact: Barbara Gould Bendix Commercial Vehicle Systems LLC (440) 329-9609 or Jim Houck Marcus Thomas LLC (888) 482-4455 or Bob Goldston Dana Corporation (269) 567-1101 DATASOURCE: Bendix Spicer Foundation Brake LLC CONTACT: Barbara Gould of Bendix Commercial Vehicle Systems LLC, +1-440-329-9609, or ; or Jim Houck of Marcus Thomas LLC, +1-888-482-4455, or ; or Bob Goldston of Dana Corporation, +1-269-567-1101, or Web site: http://www.bendix.com/ http://www.dana.com/

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