National Press Release

- Fourth Quarter Sales Down Substantially Over Prior Year

- 2008 Net Sales Increased to $2.59 Billion

- 2008 Net New Business Awards Increase 67 Percent to $378.7 Million

NOVI, Mich., April 2 /PRNewswire/ -- Cooper-Standard Holdings Inc., the parent company of Cooper-Standard Automotive Inc., today announced Cooper-Standard Automotive's fourth quarter and full year 2008 earnings.

Net sales for 2008 increased to $2.59 billion, compared to $2.51 billion in 2007, an increase of $83.4 million. The increase resulted primarily from the full year impact of the 2007 acquisitions of the Metzeler Automotive Profile Systems (MAPS) businesses in Germany, Italy and India, and the Automotive Components Holdings' El Jarudo fuel rail operations in Mexico, as well as favorable foreign exchange rates, partially offset by lower sales volume in North America particularly in the second half of the year. For the fourth quarter of 2008, net sales were $473.3 million compared to $708.3 million for the same period in 2007.

Gross profit for 2008 was $334.5 million, or 12.9 percent of sales, as compared to $397.1 million, or 15.8 percent of sales, in 2007. This decrease is primarily the result of reduced North American volume, unfavorable mix and higher raw material prices. For the quarter, gross profit was $34.9 million compared to $113.4 million for the same quarter of 2007.

Cooper-Standard posted a $121.5 million net loss for 2008 compared to a net loss of $151 million in 2007. The company reported a $116.1 million net loss for the fourth quarter of 2008 compared to a net loss of $152.6 million for the same period of 2007. This change is primarily due to the impairment charges of $146.4 million in 2007, compared to $36 million in 2008, offset by reduced volumes, increased material costs and unfavorable foreign exchange. Operating profit in 2008 was $0.1 million compared to a $29.6 million operating loss reported in 2007.

"The significant and rapid decline in worldwide auto production, especially in the fourth quarter of 2008, is reflected in our financial results," said Jim McElya executive chairman and chief executive officer of Cooper-Standard Automotive. "We are taking appropriate measures to realign our operations to effectively operate in the extremely challenging industry conditions that we see continuing for the foreseeable future."

Net new business awarded during 2008 was $378.7 million, an increase of 66.9 percent, from 2007 net new business of $226.9 million. This includes new contracts for virtually every major global automaker.

Key Launches:

During the fourth quarter of 2008, the company launched production on several new customer vehicles, as well as next-generation models for existing platforms, including:

    --  Chery (M11, M12);
    --  Ford (Fiesta global program);
    --  General Motors (Insignia);
    --  Honda (Fit);
    --  Porsche (911); and

    --  VW (engine on various models).

The company continues to expand its global reach, with approximately 52% percent of net sales in 2008 originating outside of North America. This was the first year the majority of the company's sales were outside North America.

Adjusted EBITDA, a measure of operating performance which excludes certain non-cash and non-recurring items, was $210.2 million in 2008, compared to $285.7 million in 2007. A table reconciling Adjusted EBITDA, a measure not recognized under Generally Accepted Accounting Principles (GAAP), can be found in this news release.

Adjusted EBITDA reconciliation for the full year 2008 is presented in the table below.

                                       Year Ended      Year Ended
                                       December 31,    December 31,
                                          2007            2008
                                          ----            ----

    Net loss                           $(151.0)        $(121.5)
    Provision for income tax expense      32.9            29.3
    Interest expense, net of
     interest income                      89.6            92.9
    Depreciation and amortization        136.0           140.1
                                         -----           -----
      EBITDA                            $107.5          $140.8
    Restructuring                         26.4            30.6
    Canadian voluntary retirement            -             1.8
    Impairment charges(1)                146.4            36.0
    Other                                  5.4             1.0
                                           ---             ---
      Adjusted  EBITDA                  $285.7          $210.2

    (1)  2008 - Impairment charges related to goodwill ($23.1 million),
    certain intangibles ($3.9 million), fixed assets ($6.4 million), and
    Guyoung impairment ($2.6 million).  2007- Impairment charges related to
    North American Fluid reporting unit of $146.3 million.

Management uses Adjusted EBITDA as a measure of the company's performance. Adjusted EBITDA varies from the amount used in calculating covenant compliance under our credit facilities due to the classification of joint venture equity earnings and certain pro forma adjustments. EBITDA and Adjusted EBITDA are not calculated according to GAAP and should not be construed as income from operations or net income, as determined by GAAP. Other companies may report EBITDA differently and therefore Cooper-Standard Automotive's results may not be comparable to other similarly titled measures of other companies.

Conference Call Details

Cooper-Standard Automotive will hold a conference call and webcast with investors on Thursday, April 2, 2009 at 9 a.m. EDT to discuss its 2008 fourth quarter and full year results, provide a general business update and respond to investor questions.

An interactive webcast will also be available via http://www.cooperstandard.com/investor_home.php or http://investor.shareholder.com/cooperstandard/eventdetail.cfm?eventid=66649.

To participate in a live question-and-answer session, North American callers should dial toll-free 877-852-6578 (international callers dial 001-719-325-4834) and provide pass code 6163124 or ask to be connected to the Cooper-Standard Automotive fourth quarter / full year teleconference. Callers should dial in at least five minutes prior to the start of the call. Financial and automotive analysts are invited to ask questions after the presentations are made. Those joining via the webcast may also submit questions electronically through the Web interface.

Individuals unable to participate during the live teleconference or webcast may visit the Investor Relations portion of the Cooper-Standard Automotive Web site (http://www.cooperstandard.com/investor_home.php) for a webcast replay of the presentation.

About Cooper-Standard Automotive

Cooper-Standard Automotive Inc., headquartered in Novi, Mich., is a leading global automotive supplier specializing in the manufacture and marketing of systems and components for the automotive industry. Products include body sealing systems, fluid handling systems and NVH control systems, which are represented within the company's two operating divisions: North America and International. Cooper-Standard Automotive employs approximately 18,000 people globally with more than 70 facilities throughout the world. For more information, visit the company's Web site at: www.cooperstandard.com.

Cooper-Standard is a privately-held portfolio company of The Cypress Group and Goldman Sachs Capital Partners Funds.

The Cypress Group is a New York-based private equity investment firm founded in 1994. Since its formation, Cypress has invested more than $3.5 billion of capital within its two funds. Cypress has an extensive track record of making growth-oriented investments in targeted industry sectors and building equity value alongside proven management teams.

The Goldman Sachs Group, Inc. is a leading global financial services firm providing investment banking, securities and investment management services to a substantial and diversified client base that includes corporations, financial institutions, governments and high-net-worth individuals. Founded in 1869, the firm is headquartered in New York and maintains offices in London, Frankfurt, Tokyo, Hong Kong and other major financial centers around the world.

This news release includes forward-looking statements, reflecting current analysis and expectations, based on what are believed to be reasonable assumptions. Forward-looking statements may involve known and unknown risks, uncertainties and other factors, which may cause the actual results to differ materially from those projected, stated or implied, depending on many factors, including, without limitation: the company's dependence on the automotive industry; the prolonged contraction in automotive sales and production volumes; the financial condition of automakers; the possible impact of automakers' financial conditions upon the company's supply base; disruptions within the financial market that adversely impact the availability and cost of credit; access and availability of cash and capital caused by the company's substantial leverage; the possibility that the company could violate certain covenants in its credit facilities; availability and cost of manufactured components and raw materials; competition in the industry; the company's operations outside the United States; the uncertainty of the company's ability to achieve expected lean savings; the company's exposure to product liability and warranty and recall claims; work stoppages or similar difficulties that disrupt operations; the company's ability to meet customers' needs for new and improved products in a timely manner; the company's ability to attract and retain key personnel; potential conflicts of interests between owners and the company; the company's legal rights to its intellectual property portfolio; the company's underfunded pension plans; and environmental, health, safety and other laws and regulations. There may be other factors that may cause our actual results to differ materially from the forward-looking statement. Accordingly, there can be no assurance that Cooper-Standard Automotive will meet future results, performance or achievements expressed or implied by such forward-looking statement. This paragraph is included to provide safe harbor for forward-looking statements, which are not generally required to be publicly revised as circumstances change, and which Cooper-Standard Automotive does not intend to update.

SOURCE Cooper-Standard Automotive Inc.