Titan announces first-quarter dividend

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Titan International Inc.'s board of directors has approved a quarterly cash dividend of $.005 (one half cent) per common share for the first quarter of 2003.

The cash dividend is payable April 15, 2003, to stockholders of record on March 31, 2003.

Titan's stock was selling at $.80 per share at the close of yesterday's New York Stock Exchange. That compares to a low of $.60 per share and a high of $5.50 per share in the last 52 months.

On February 28, Titan announced a net loss of $35.9 million on net sales of $462.8 million in 2002. That compared to a net loss of $34.8 million on sales of $457.5 million in 2001.

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