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Titan declares dividend

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Titan International Inc., through its board of directors, has approved a cash dividend of $.005 (one-half cent) per common share for the third quarter of 2002.

The cash dividend is payable Oct. 15, 2002, to stockholders of record on Sept. 30, 2002.

Titan's stock was selling for $3.44 a share as of Sept. 9. Over the last 52 weeks, the stock price has reached a high of $6.10 and a low of $2.63 per share.

Titan recorded net sales of $125.8 million for the second quarter, compared with $120.3 million for the second quarter of 2001. Year-to-date net sales were $249.6 million compared with $256.4 million for the first half of 2001.

Income from operations for the quarter was $4 million compared with a loss of $4.6 million in the second quarter of 2001. Year-to-date income was $5.1 million compared with a loss of $0.7 million for the 2001 period.

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