Tecumseh Products Company Announces Preliminary First Quarter Results

Tecumseh Products Company (NASDAQ: TECUA)(NASDAQ: TECUB) today announced that it expects its earnings per share for the first quarter ending March 31, 2001 to be in a range from $0.68 to $0.73. The Company had initially expected first quarter earnings to fall within the range of $.90 to $.95 per share. The lowered first quarter expectations are the result of significantly lower first quarter sales and earnings of the Company's Engine & Power Train Group which has experienced significant delays of shipments against orders from its lawn and garden customers. It is expected that shipments in April will remain at low levels. In order to control inventory levels, the Company plans to substantially curtail its U.S. engine production for at least one week in April, 2001.

In the first quarter of 2000, the Company reported consolidated sales of $476 million and earnings per share of $0.46, after restructuring charges of $1.18 per share, net of taxes.

Tecumseh Products Company will host a conference call to report on first quarter results on Tuesday, April 24 at 11 a.m. ET. The call will be broadcast live over the Internet and then available for replay through Tecumseh Products Company's website at http://www.tecumseh.com/ .

This release contains forward-looking statements within the meaning of the "Private Securities Litigation Reform Act of 1995" and are subject to the safe harbor provisions created by that Act. Actual results may differ materially from those projected as a result of certain risks and uncertainties inherent in business forecasts as more fully described in the Company's Annual Report on Form 10-K.

Tecumseh Products Company is a full-line independent global manufacturer of hermetic compressors for air conditioning and refrigeration products, gasoline engines and power train products for lawn and garden applications, and a diversified line of pumps for the retail and commercial consumer.

SOURCE: Tecumseh Products Company

Contact: Pat Walsh of Tecumseh Products Company, 517-423-8455

Website: http://www.tecumseh.com/

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