Cooper Standard Automotive Sale to The Cypress Group and Goldman Sachs is Complete

New York, NY and Novi, MI, December 23, 2004 - The Cypress Group, the New York-based private equity firm, and Goldman Sachs Capital Partners announced today that they have completed their previously announced acquisition of Cooper-Standard Automotive from Cooper Tire & Rubber Co. (NYSE: CTB). The transaction was valued at $1.165 billion.

With 2003 net sales of approximately $1.6 billion, Cooper Standard Automotive is a leading manufacturer of engineered components serving the automotive OEM market. Cooper-Standard is a global leader in each of its product lines, which include fluid handling systems, body sealing systems, and active and passive vibration control systems.

Jim McElya, CEO of Cooper Standard Automotive, said, "We are delighted to have concluded this transaction and are pleased to welcome our partners as we begin this new chapter in Cooper Standard's growth as an independent company. Both Cypress and Goldman have a thorough understanding of our business and a deep commitment to continuing our traditions of excellence and innovation in the service of our customers."

David Spalding, Vice Chairman of Cypress, said, "Cooper-Standard has distinguished itself as a world leader in each of its core product areas. We look forward to working with Jim McElya, his management team, and Cooper Standard's employees to build upon the Company's current success and create a strong future by executing on the Company's growth plan."

Terry O'Toole, Managing Director of GS Capital Partners, said, "Cooper Standard has a highly experienced, seasoned team in place and is well positioned in the increasingly competitive automotive parts sector. We are pleased that the transaction is now complete and will turn our attention to supporting Cooper-Standard as it seeks to expand current relationships with customers and forge new ones."

The Cypress Group is a New York based private equity group which manages two private equity funds with more than $3.5 billion in commitments. Cypress invests in privately negotiated transactions, targeting operating businesses and investing with management to foster continued growth. Investments made by Cypress include Cinemark, Inc.; AMTROL, Inc.; Williams Scotsman, Inc.; WESCO International, Inc.; ClubCorp, Inc.; Danka Business Systems PLC; MedPointe Inc.; Montpelier Re Holdings, Ltd.; Republic National Cabinet Corp.; Catlin Group Ltd.; The Meow Mix Company; Financial Guaranty Insurance Company (FGIC); and Communications & P ower Industries, Inc.; Affinia Group Inc.; and Stone Canyon Entertainment Corporation. The Cypress website address is: www.cypressgp.com.

Goldman Sachs is a global leader in corporate equity and mezzanine investing. To date, Goldman Sachs has formed ten investment vehicles aggregating over $17 billion of capital. With $5.25 billion in committed capital, GS Capital Partners 2000 is the current primary investment vehicle for Goldman Sachs to make privately negotiated equity investments. GS Capital Partners 2000 seeks long-term capital appreciation by committing equity to high-quality companies with superior management in a variety of situations, including leveraged buyouts, recapitalizations, and growth investments to fund acquisition or expansion. The Fund invests across a broad range of industries and creates value through meaningful involvement with portfolio companies' strategic d ecision-making and operating philosophy. For more information, please visit www.gs.com/pia

Cooper Standard is a leading global manufacturer of fluid handling systems, body sealing systems, and active and passive vibration control systems, primarily for the automotive original equipment manufacturing markets. The company is headquartered in Novi, Michigan, and generated net sales of approximately $1.6 billion in 2003.


About Cooper-Standard Automotive
Cooper-Standard Automotive Inc., headquartered in Novi, Mich., is a leading global automotive supplier specializing in the manufacture and marketing of systems and components for the automotive industry. Products include body sealing systems, fluid handling systems, and NVH control systems. Cooper-Standard Automotive Inc. employs approximately 19,000 people globally with more than 70 facilities throughout the world. For more information, visit the company's Web site at: www.cooperstandard.com.

Cooper-Standard is a privately-held portfolio company of The Cypress Group and Goldman Sachs Capital Partners Funds.

The Cypress Group is a private equity investment firm managing more than $3.5 billion of capital. Cypress has an extensive track record of making growth-oriented investments in targeted industry sectors and building equity value alongside proven management teams.

Founded in 1869, Goldman Sachs is one of the oldest and largest investment banking firms. Goldman Sachs is also a global leader in private corporate equity and mezzanine investing. Established in 1991, the GS Capital Partners Funds are part of the firm's Principal Investment Area in the Merchant Banking Division. Since 1986, Goldman Sachs' Principal Investment Area has formed 13 investment vehicles aggregating $56 billion of capital to date.