Document rx1adM06rGdOo9Rdq1E2dRZGJ

Dana Corporation Page 34 of 176 interest rate swaps accounted for a substantial majority of the remaining inflows in both 2003 and 2002. Managing our cash remains a high priority. Our estimate of cash outlays related to restructuring activities is $80 for 2004 and we expect to reduce working capital, exclusive of our restructuring activities, by $100 based on the projected levels of production for 2004. Within our investing activities, we expect the proceeds from the divestiture of the Automotive Aftermarket business to exceed its book value. Achieving these targets would enable us to reduce debt, invest in other business opportunities and contribute to our pension plans. 16 http ://www. sec .gov/Archives/edgar/data/26780/000095015204001384/105571 ae 10vk.htm 8/1/2004