LOUISVILLE, Ky.--(BUSINESS WIRE)--Oct. 20, 2004--Sypris Solutions, Inc. (Nasdaq/NM:SYPR) today announced that Dana Corporation ("Dana") has extended the term for three separate supply agreements to December 31, 2014. The contracts, which currently represent approximately $160 million of annual revenue for Sypris, previously contained expiration dates that ranged from May and December 2011 to June 2012.

Under the terms of the agreements, Sypris provides Dana with a wide range of components for use in its final axle assemblies, which are in turn distributed by Dana to the leading medium and heavy-duty truck manufacturers in the world. The contracts cover Dana-related production at Sypris plants located in Marion, Ohio, Morganton, North Carolina and Toluca, Mexico.

Commenting on the announcement, Jeffrey T. Gill, president and chief executive officer of Sypris Solutions, said, "We are pleased to have this opportunity to extend our long-term relationship with Dana and in so doing, establish a common expiration date for all three of the contracts. We will continue to support Dana with investments in technology and state-of-the-art manufacturing processes to insure that the cost, quality and reliability of Dana's components remain competitive on a global scale for years to come."

Sypris Solutions is a diversified provider of technology-based outsourced services and specialty products. The Company performs a wide range of manufacturing and technical services, typically under multi-year, sole-source contracts with major corporations and government agencies in the markets for aerospace and defense electronics, truck components and assemblies, and for users of test and measurement equipment. For more information about Sypris Solutions, visit its Web site at www.sypris.com.

This release, and oral statements referring hereto, contain "forward-looking statements," from which actual results may differ materially due to factors such as: cost and supply of raw materials such as steel, components, or utilities; growth, reduction or competitive pressures in our markets; cost, efficiency and yield of our operations; our ability to improve results of acquired businesses; inventory valuation risks; product mix; changes in government or other customer programs; reliance on major customers or suppliers; revised estimates of major contract costs; dependence on management; labor relations; risks of foreign operations; currency exchange rates; costs and supply of debt, equity capital, or insurance; pension valuation risks; changes in licenses, security clearances, or other legal rights to operate, manage our work force or import and export as needed; compliance costs; regulatory actions or sanctions; litigation, including customer, creditor, stockholder, environmental or asbestos-related claims; war, terrorism or political uncertainty; disasters; unknown risks and uncertainties; or risk factors in our SEC filings.

CONTACT: Sypris Solutions, Inc., Louisville
David D. Johnson, 502-329-2000
www.sypris.com

SOURCE: Sypris Solutions, Inc.