Patriarch Partners Affiliates to Acquire Majority Ownership of DURA Automotive Systems

NEW YORK, December 11 - Affiliates of Patriarch Partners, LLC ("Patriarch") today announced that
they have entered into an agreement to recapitalize and acquire a majority
interest in DURA Automotive Systems, Inc. ("DURA").

Under the agreement, Patriarch will invest up to US$125 million of
capital and will take a controlling stake in DURA. This transaction completes
the transformation of DURA, a company that emerged from Chapter 11 bankruptcy
protection in June, 2008, into an automotive supplier with a strong balance
sheet, industry-leading intellectual property and a broad low-cost global
presence. The transaction is subject to customary closing conditions,
including German regulatory approval.

At the same time, Patriarch is also announcing its intention to pursue an
integration of Global Automotive Systems ("GAS"), another
Patriarch-affiliated company, with DURA. GAS has a broad range of
metal-forming, welding and assembly capabilities, with material expertise
ranging from aluminum and low-carbon steel to ultra high-strength steel. That
expertise would provide DURA with a North American-based manufacturing
footprint for expanding its Structure & Safety Systems product lines, which
include door structures, parking brakes and other components. The combined
companies would operate under the DURA brand name.

"Patriarch is committed to the preservation of jobs and the strengthening
of industry through the confluence of manufacturing and technology. This
investment exemplifies that strategy," said Lynn Tilton, CEO of Patriarch
Partners. "The strategic investment in DURA and subsequent integration with
Global Automotive Systems significantly enhances DURA's capabilities in North
America and creates a robust global supplier with the depth and breadth that
will offer rich benefits to DURA's customers and other stakeholders."

"Over the last 15 months DURA has accomplished a comprehensive business
restructuring and is now financially poised for growth," said Timothy D.
Leuliette, chairman, president and CEO of DURA. "That operational
restructuring made our company more globally competitive and is a testament
to the commitment and skills of our employees.

"That hard work drew Patriarch's interest in DURA, and we are pleased
that they recognized the untapped value in our company. We are very excited
about this transaction and about the integration of GAS and DURA. These
transactions will make DURA one of the least-leveraged suppliers in the auto
industry, expand our North American footprint and give us greater access to
capital. We look forward to a bright future together," Leuliette said.

About DURA

DURA is a leading independent designer and manufacturer of driver control
systems, seating control systems, glass systems, engineered assemblies,
structural door modules and exterior trim systems for the global automotive
industry. DURA markets its automotive products to every North American, Asian
and European original equipment manufacturer (OEM) and to many leading Tier 1
automotive suppliers. DURA is headquartered in Rochester Hills, Mich. It had
sales of US$1.75 billion in 2008 and has 9,800 employees in 33 manufacturing
operations in 16 countries. Information about DURA and its products are
available on the internet at www.DURAauto.com.

About Patriarch

Patriarch is a vertically-integrated private equity firm with robust
in-house operational turn-around expertise. Founded in 2000, Patriarch was
built upon a patented financial model designed to manage and monetize the
distressed portfolios of financial institutions. Patriarch has since evolved
into a global investment firm that concentrates on direct investments in and
the transformation of complex businesses, building integrated industry
platforms. Patriarch manages funds with over US$7 billion of equity and
secured loan assets, with equity investments in more than 70 companies and
controlling interests in approximately two-thirds of these. For more
information, please visit www.patriarchpartners.com.

Lainie Rosenthal, +1-646-784-1843, rosenthal at sunshinesachs.com, or Marge Sorge, +1-734-578-6507, msorge at twocentsmedia.com