ALLEN PARK , MI -- Meridian Automotive Systems today announced that the United States Bankruptcy Court for the District of Delaware has confirmed the company's Plan of Reorganization. The company's confirmed Plan will become effective after certain conditions are satisfied including closing and funding of a proposed $175 million exit financing facility.

Meridian has already received a fully underwritten commitment letter from Deutsche Bank and Deutsche Bank is currently in the process of finalizing the syndication of the exit financing facility. Meridian expects that its confirmed Plan will become effective by the end of December 2006.

Richard Newsted, Meridian 's president and CEO, said, "The Bankruptcy Court's confirmation of our Plan of Reorganization is a significant accomplishment for our company. We are pleased to have court approval of a Plan that deals fairly and equitably with all of our creditors. I would like to personally thank all of the Meridian associates for their hard work and our valued customers, suppliers and creditors for their unwavering support during our reorganization. We will emerge as a stronger company with significantly less debt and increased liquidity, two very positive factors which will contribute to our long-term success in the automotive industry."