Continental Receives 2003 New Product Award for Electronic Brake System (EBS)

--- National Society of Professional Engineers Honors Safety System Produced at Morganton, N.C. Facility

AUBURN HILLS, Mich., July 28 -- As a testament to Continental's commitment to safety technology, the National Society of Professional Engineers (NSPE) named the MK20e/MK25 series of Electronic Brake Systems (EBS) the 2003 Best New Product Award in the Mega Company category.

The EBS systems are produced at the Morganton, N.C. facility of Continental Teves, a division of Continental AG based in Hanover, Germany. The system earned the award based on the following criteria: exceptional engineering research, design, overall impact on the U.S. national economy and societal benefits. Using these criteria, the NSPE New Product committee made its 2003 selections from a variety of innovative products.

The NSPE noted that the system, one of the many safety technologies developed by Continental AG, uses computer controlled electronic sensors to significantly enhance vehicle stability in accelerating, cornering and braking and helping keep vehicles on the road. The system can also detect severely under-inflated tires.

Working in conjunction with anti-lock brake systems and traction control technologies on vehicles as small as the Ford Focus, and as large as the Ford Expedition, the Electronic Stability Program (ESP) version of this product helps minimize the possibility of rollover and loss of vehicle control in all types of driving situations. Furthermore, the lower cost and weight of these critical safety products offer better affordability and improved fuel economy.

The Professional Engineers of North Carolina formally submitted nomination of Continental's winning product. The same systems won the state-level competition last year. The true work in preparing this latest winning submission package was conducted primarily by two Morganton team members, Gary Burrell and Kathy Pittman.

Continental Teves was invited to exhibit its winning product at the NSPE annual convention in July 2003 in San Antonio, Texas where it received the prestigious New Product Award.

Continental Teves, headquartered in Frankfurt/Main Germany, is a unit of Continental AG, Hanover, Germany. With 2002 sales of approximately $12 billion (US), the Continental Corporation is a major supplier of brake systems, chassis components, vehicle electronics, tires and technical rubber products. Continental Teves' North American operation is headquartered in Auburn Hills, Mich. For additional information, visit these websites: www.conti-online.com and www.contitevesna.com .