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LEAR ANNOUNCES RECORD SALES FOR THIRD QUARTER AND NINE MONTHS ENDED MARCH 28

 LEAR ANNOUNCES RECORD SALES FOR THIRD QUARTER
 AND NINE MONTHS ENDED MARCH 28
 SOUTHFIELD, Mich., May 8 /PRNewswire/ -- Lear Holdings Corporation (formerly LSS Holdings Corporation) announced today that its sales reached record levels in the third quarter and nine months ended March 28.
 According to Kenneth L. Way, chairman and chief executive officer, Lear's sales reached $339.2 million in the third quarter, an increase of 35 percent over the $251.1 million achieved for the comparable period in the previous fiscal year. Lear's nine-month sales totaled $982.5 million, an increase of 25 percent over the $785.8 million for the comparable period in the previous fiscal year.
 Way attributed Lear's sales increase to expanding production and increased market penetration.
 "Our operations benefited from the startup of production of seating for GM Suburban trucks, Volvo cars, and Saab in Finland. In addition, we expect to begin production at our new Opel seating plant in Eisenach, eastern Germany shortly," Way said.
 In order to support Lear's future expansion in North America and Europe, Lear also announced an agreement in principle (subject to approval of its board of directors) to sell $20.0 million in common stock of the company to its two major investors, the Merchant Banking partnerships affiliated with Shearson Lehman Brothers Inc. and FIMA Finance Management Inc., an affiliate of IFINT S.A. In addition, Lear is reviewing its current financing structure to reduce overall interest costs. These moves will support expected growth as OEM global outsourcing continues.
 Lear's fiscal year ends June 30, 1992. Lear Holdings Corporation is one of the world's leading independent manufacturers of car and light truck seats. Lear and its affiliates employ approximately 14,500 workers in 44 facilities worldwide.
 -0- 5/8/92
 /CONTACT: Tony De Lorenzo of A.G. DeLorenzo & Associates, 313-644-9150, for Lear Holdings Corporation/ CO: Lear Holdings Corporation ST: Michigan IN: AUT SU:


SB -- DE006 -- 7992 05/08/92 09:44 EDT
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Publication:PR Newswire
Date:May 8, 1992
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