Cooper-Standard Automotive to Acquire ITT Industries' Auto Fluid Handling Systems

Novi, Mich., December 5, 2005 - Cooper-Standard Automotive today announced that it has signed a definitive agreement with ITT Industries Inc. whereby Cooper-Standard will acquire ITT's Fluid Handling Systems business in a transaction valued at approximately $205 million. The transaction is expected to close in the first quarter of 2006 and is subject to customary closing conditions including regulatory approvals.

With 2004 net sales of approximately $437 million, ITT's Fluid Handling Systems division is a leading manufacturer of steel and plastic tubing for fuel and brake lines and quick-connects.

Cooper-Standard Automotive is a global leader in each of its product lines, which include fluid handling systems, body sealing systems, and noise, vibration and harshness control systems.

"This transaction enables us to provide our customers with a more complete line of fluid management solutions for new vehicle platforms," stated Jim McElya, president and CEO of Cooper-Standard Automotive. "Our customers are continually searching for opportunities to work with stronger suppliers that can effectively meet their needs anywhere in the world. By combining our powerful research, development, engineering, and global manufacturing capabilities - along with our outstanding customer service and sales support - Cooper-Standard Automotive has the opportunity to better serve our global customers," said McElya.

"Both Cooper-Standard and ITT Fluid Handling Systems have talented experts in the design and manufacture of innovative fluid handling products," said Larry Beard, president of Cooper-Standard's Global Fluid Systems Division. "The combined operation will be a powerful force for innovation in cutting-edge products for both automotive and industrial applications."

About ITT Industries Fluid Handling Systems
ITT Industries Fluid Handling Systems is a leading global supplier of highly engineered plastic and metal tubing and related specialty quick connects and coatings provided both as individual components and complete integrated systems. Serving specific industry needs for 60 years, Fluid Handling Systems has more than 100 patents issued or pending and its global operations produce over one billion feet of tubing and more than 100 million quick connects annually.


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.