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BorgWarner Announces 40 Percent Increase to Quarterly Dividend

The board of directors of BorgWarner has declared a quarterly dividend of $0.25 per share on all of the company’s issued and outstanding common stock. The dividend has been increased by 40 percent over the previous dividend amount.

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CHICAGO — The board of directors of BorgWarner has declared a quarterly dividend of $0.25 per share on all of the company’s issued and outstanding common stock. The dividend has been increased by 40 percent over the previous dividend amount.

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The dividend is payable February 17 to shareholders of record on February 2.

“Over the past two years, we have increased our quarterly dividend almost 70 percent,” said Timothy Manganello, chairman and CEO. “These increases demonstrate our confidence in BorgWarner’s long-term future and our commitment to returning value to shareholders. As we have stated, we expect 2004 to be a continuation of the strong growth that we have experienced over the past few years, and this dividend increase exemplifies that belief.”

To learn more about BorgWarner, visit: www.bwauto.com.

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