Document k9jvQMyG58vgnwEbLEm6vn5wJ

Dana Corporation Page 106 of 176 Table of Contents Fees are paid to the banks for providing committed lines, but not for uncommitted lines. We paid fees of $5 in 2003 and $6 in 2002 in connection with our committed bank lines. Of such fees, $4 was amortized to expense in 2003 and $9 in 2002. Selected details of consolidated short-term borrowings are as follows: Amount Weighted Average Interest Rate Balance at December 31, 2003 Average during 2003 Maximum during 2003 (month end) Balance at December 31, 2002 Average during 2002 Maximum during 2002 (month end) $ 54 307 397 $ 163 698 1,057 2.5% 1.8 2.2 3.9% 3.2 3.7 Note 9. Long-Term Debt Since 1998, we have issued various unsecured notes with maturities extending out as far as March 1, 2029. A default under these indentures may result in defaults under the long-term bank credit facilities or the accounts receivable securitization program. During 2001, Dana issued $575 and 200 of 9% unsecured notes due August 15, 2011. During 2002, we issued $250 of 10.125% unsecured notes due March 15, 2010. The indenture agreements related to these notes place certain limits on the borrowings, payments and transactions that we can undertake. During the third quarter of 2003, we paid $140 to repurchase certain of our unsecured notes with a total face value of $158. Specifically, we repurchased $19 of the March 2004 notes, $32 of the March 2028 notes and $107 of the March 2029 notes. Other income in 2003 includes the $15 pre-tax gain realized on these transactions after considering the unamortized issuance costs and original issuance discount. At December 31, 2003, notes totaling $275 were outstanding under a $500 Medium-Term Note Program established at DCC during 1999. Notes under the program are offered on terms determined at the time of issuance. These notes are general, unsecured obligations of DCC. DCC has agreed that it will not issue any other notes which are secured or senior to notes issued under the program, except as permitted by the program. Interest on the notes is payable on a semi-annual basis. Nonrecourse obligations represent debt collateralized by the assignment of contracts and a security interest in the underlying assets. In the event of a default under the nonrecourse debt obligation, the lender's recourse is limited to the collateral with no further recourse against DCC. 54 http://www.sec.gOv/Archives/edgar/data/26780/000095015204001384/105571ael0vk.htm 8/1/2004