Modine Wins New Engine Cooling Business with Freightliner & Will Partner with Parent DaimlerChrysler to Develop Solutions to Meet Tighter Heavy-Duty Truck Emission Standards.

RACINE, Wis. -- Modine Manufacturing Company (NYSE:MOD), a world leader in solving thermal challenges, announced today it has been chosen as the supplier for engine cooling modules for The Freightliner Group in North America and will also become the development partner for Mercedes-Benz Truck in Europe. The parent company of both divisions, DaimlerChrysler AG is looking for global ways to meet the tighter emissions standards worldwide on heavy-duty truck engines. The United States' Environmental Protection Agency (EPA) begins enforcing the new standards in North America in 2007 and the European EURO 6 emission regulations become effective in 2010. The total contract to Modine would be valued at up to $50 million a year.

The Freightliner Group Contract

The long-term contract between Modine and DaimlerChrysler, the world's largest commercial vehicle manufacturer will apply to heavy-duty trucks under the Freightliner brands. Modine and Freightliner engineers worked together to determine the best solution to these new emissions challenges.

"The EPA's goal to reduce North American emission particulate matter by 90% from today's levels presents a challenge for all heavy-duty truck original equipment manufacturers (OEMs)," said Chuck Katzfey, Modine Group Vice President. "To reduce emissions, heavy-duty engine manufacturers must include more parts and equipment to transfer more heat throughout the engine to keep it cool. Modine is providing an answer to this challenge by offering engine cooling modules to handle the increased heat volume."

The contract calls for Modine to supply Freightliner with thousands of engine cooling modules per year. This commitment signifies Modine's ability to provide the technologically advanced thermal solutions required to handle the increased heat loads present in all heavy-duty truck engines.

Modine will manufacture and assemble engine cooling modules beginning in the fall of 2006 at its Trenton, Missouri plant. Each module will include a radiator and charge-air-cooler from Trenton. Trucks equipped with automatic transmissions will also receive a stainless steel oil cooler from Logansport, Indiana.

Mercedes-Benz Truck Partnership

Modine has also been named as a development partner for engine cooling solutions for the heavy-duty truck business of DaimlerChryler AG. Modine was chosen based on its technical skills, cost, standardization and commonality.

"The key to our success with Freightliner and DaimlerChrysler is our intelligent globalization strategy. This strategy puts us in a position to address application-specific customer needs, while at the same time offering truly globally standardized products with the associated cost advantages to our customer," said Klaus Feldmann, Group Vice President Modine Europe.

Modine, with fiscal 2005 revenues of $1.5 billion, specializes in thermal management systems and components, bringing highly engineered heating and cooling technology and solutions to diversified global markets. Modine products are used in light, medium and heavy-duty vehicles, HVAC (heating, ventilating, air conditioning) equipment, industrial equipment, refrigeration systems, fuel cells, and electronics. The Company employs 9,400 people at 40 facilities worldwide. For more information about Modine, visit www.modine.com.

This news release contains statements, including information about future financial performance, accompanied by phrases such as "believes," "estimates," "expects," "plans," "anticipates," "will," "intends," and other similar "forward-looking" statements, as defined in the Private Securities Litigation Reform Act of 1995. Modine's actual results, performance or achievements may differ materially from those expressed or implied in these statements, because of certain risks and uncertainties, which are identified on page 31 of the Company's 2004 Annual Report to Shareholders and other recent Company filings with the Securities and Exchange Commission. Specifically, this news release contains forward-looking statements regarding the benefits of a recent acquisition, as well as incremental business and continuing market strength. These forward-looking statements are particularly subject to a number of risks and uncertainties, including international economic changes and challenges and market acceptance and demand for new products and technologies. These statements are also subject to the ability of Modine, its customers and suppliers to achieve projected sales and production levels and unanticipated product or manufacturing difficulties.

Modine does not assume any obligation to update any of these forward-looking statements.