American Axle & Manufacturing Holdings, Inc. and American Axle & Manufacturing, Inc. Announce Agreements to Sell Senior Notes and Convertible Senior Notes DETROIT, Feb. 6 /PRNewswire-FirstCall/ -- American Axle & Manufacturing Holdings, Inc. (Holdings), which is traded as AXL on the NYSE, and its wholly-owned subsidiary, American Axle & Manufacturing, Inc. (AAM) announced today that it has entered into an agreement to sell $250.0 million of 5.25% Senior Notes of AAM and $130.0 million of 2.00% Convertible Senior Notes of Holdings in previously announced private offerings pursuant to Rule 144A under the Securities Act of 1933, as amended. In addition, the initial purchasers have the option to purchase up to an additional $20.0 million of the Convertible Senior Notes. Concurrently with the offerings, Holdings purchased approximately $63.0 million of its common stock in privately negotiated transactions. The Senior Notes will mature on February 11, 2014. The Convertible Senior Notes will mature on February 15, 2024 and will be convertible under certain circumstances into the Company's common shares at a conversion rate of 18.0421 shares per $1,000 principal amount of notes, subject to adjustment. The notes will be redeemable at the Company's option on or after February 20, 2011 and will be subject to repurchase on February 20, 2011 and on certain other dates. The offering is expected to close on February 11, 2004, subject to customary closing conditions. The senior notes and the convertible senior notes have been offered in the United States only to qualified institutional buyers pursuant to Rule 144 under the Securities Act of 1933, as amended. The notes have not been registered under the Securities Act and may not be offered or sold in the United State absent an applicable exemption from the registration requirements of the Securities Act. This press release does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities, in any state in which such an offer, solicitation, or sale would be unlawful. American Axle & Manufacturing is a world leader in the manufacture, design, engineering, and validation of driveline systems and related components and modules, chassis systems and forged products for trucks, sport utility vehicles and passenger cars. In addition to its 14 locations in the United States (in Michigan, New York and Ohio), AAM also has offices and facilities in Brazil, England, Germany, Japan, Mexico and Scotland. Certain statements contained in this press release which are not historical facts contain forward-looking information with respect to the Company's plans, projections or future performance, the occurrence of which involves risk and uncertainties that could cause the company's actual results or plans to differ materially from those expected by the company which include risk factors described in the Company's filings with the Securities and Exchange Commission. For more information ... Media relations contact Investor relations contact Carrie L.P. Gray Richard F. (Rick) Dauch Director, Corporate Relations Vice President, Investor Relations (313) 758-4880 (313) 758-4767 Or visit the AAM website at http://www.aam.com/ DATASOURCE: American Axle & Manufacturing Holdings, Inc. CONTACT: Media, Carrie L.P. Gray, Director, Corporate Relations, +1-313-758-4880, or , or Investors, Richard F. (Rick) Dauch, Vice President, Investor Relations, +1-313-758-4767, or , both of American Axle & Manufacturing Holdings, Inc. Web site: http://www.aam.com/ Company News On-Call: http://www.prnewswire.com/comp/033813.html

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