DURA Automotive Announces Sale of Class A Common Stock by Onex Corporation.

Business Editors

ROCHESTER HILLS, Mich.--(BUSINESS WIRE)--April 2, 2004

DURA Automotive Systems, Inc. (Nasdaq:DRRA), announced today that Onex DHC LLC, an indirect subsidiary of Onex Corporation, has agreed to sell 1,444,913 shares of Class A common stock through a firm commitment underwritten offering by Credit Suisse First Boston LLC. Following the completion of the sale, Onex will no longer hold any shares of DURA. Prior to the offering, Onex had voting control of approximately 48% of DURA's common stock primarily as a result of its ownership of shares of Class B common stock, which were entitled to ten votes per share. All of Onex's Class B shares will automatically convert on a share-for-share basis into Class A shares in connection with the sale. Onex's original investment in DURA was made in 1990.

The sale is scheduled to close on April 7, 2004 and is subject to customary closing conditions. Following the completion of the sale, DURA will have outstanding approximately 18,435,172 shares of Class A common stock and 76,295 shares of Class B common stock. All shares of Class B common stock that remain outstanding after the sale will cease to have any voting rights in accordance with the terms of DURA's certificate of incorporation. DURA's Class A common stock will continue to have one vote per share.

Copies of the prospectus relating to the offering of the shares of Class A common stock may be obtained from Credit Suisse First Boston LLC, Eleven Madison Avenue, New York, New York 10010-3269 or through the SEC's website at www.sec.gov.

This news release does not constitute an offer to sell or the solicitation of an offer to buy any security and shall not constitute an offer, solicitation or sale in any jurisdiction in which it would be unlawful.

About DURA Automotive Systems, Inc.

DURA Automotive Systems, Inc., is the world's largest independent designer and manufacturer of driver control systems and a leading global supplier of seating control systems, engineered assemblies, structural door modules and integrated glass systems for the global automotive industry. The company is also a leading supplier of similar products to the North American recreation and specialty vehicle markets. DURA sells its automotive products to every North American, Japanese and European original equipment manufacturer (OEM) and many leading Tier 1 automotive suppliers. DURA is headquartered in Rochester Hills, Mich. Information about DURA and its products is available on the Internet at www.duraauto.com.