WEBASTO ROOF SYSTEMS, INC. ANNOUNCES PLANS FOR A THIRD KENTUCKY FACILITY

Frankfort, KY – Governor Ernie Fletcher and Economic Development Cabinet Secretary Gene Strong, along with officials from Murray-Calloway Economic Development Corporation and TVA, announced today that Webasto Roof Systems will establish its third Kentucky manufacturing facility in the Murray community.

Due to significant growth, the company plans to construct a 105,000 square-foot expandable building in the Murray-Calloway County Industrial Park. The new plant will be dedicated to the stamping division of their company. It will supply products both to their assembly plants and directly to their customers.

Webasto Roof Systems, Inc. (WRSI), located in Rochester Hills, Michigan, is a subsidiary of Webasto AG, located in Stockdorf, Germany. WRSI is the largest roof system manufacturer in North America. The automotive industry supplier established a presence in Kentucky with their first assembly plant in Lexington in 1998. In 2002, the company announced their decision to add a second facility in Lexington. Its newest plant in Murray will have an employment base of 150 within two years bringing their total Kentucky employment to approximately 575. Initial capital investment for the Murray plant will be approximately $14 million.

"Economic development in the Commonwealth is crucial to the well-being of all Kentuckians, and I am pleased that Webasto has decided to locate a new facility in the Murray-Calloway County Industrial Park," stated Governor Ernie Fletcher. "This will deliver much-needed jobs to western Kentucky and our administration will continue to promote job growth and economic opportunity in Kentucky."

"The state and local government support provided since we opened our first Kentucky facility in 1998 has been excellent. The employee work ethic and commitment to quality has contributed greatly to Webasto's reputation for high-quality, innovative products. We appreciate Kentucky's continued interest in our business and we trust this third facility will further contribute to Webasto's North America success as a market leader," stated Mark Wallace, Vice President of Operations for Webasto Roof Systems, Inc.

"As Chairman of the EDC and a Board member of KEDFA, I can honestly say that I have never seen such an important project come together so quickly and so well," stated Melvin Henley. "Webasto is the first automotive industry to locate in Calloway County and it shows that we can do business in the international arena. I can not say enough good things about the Company or the Cabinet for Economic Development and Secretary Strong. In my mind, this completes the process of recovering from the Mattel closure and builds momentum for future growth."

Mark Manning, President of Murray-Calloway Economic Development Corporation added, "We are absolutely delighted to have such a world-class company choose Murray to locate a new facility. Based upon my interaction with the company, I am convinced that this excellent company will provide high quality emloyment opportunities in the region for many years to come."

"TVA is proud to partner with the Murray-Calloway Economic Development Corporation, West Kentucky Rural Electric Cooperative and the State of Kentucky to attract quality jobs to Murray," said TVA Senior Vice President of Economic Development John Bradley.

Webasto Roof Systems, Inc. has received preliminary approval from the Kentucky Economic Development Finance Authority (KEDFA) for tax incentives under the Kentucky Industrial Development Act (KIDA), an incentive program aimed at increasing manufacturing employment in the Commonwealth.

The Kentucky Cabinet for Economic Development is the primary state agency in Kentucky responsible for creating new jobs and new investment in the state. New business investment in Kentucky in 2003 totaled more than $1.56 billion with the creation of just over 13,800 new jobs. Information on available development sites, workforce training, incentive programs, community profiles, small business development and other resources is available at http://www.thinkkentucky.com/.