Titan buys $15 million of its own stock

Titan International Inc. -- whose operations returned to "profitable levels" during the first quarter of 2004, according to Titan CEO and President Morry Taylor -- has purchased 4.9 million shares of its common stock for $15 million.

The stock had been owned by Citicorp Venture Capital Ltd.

Citicorp had been Titan's largest stockholder, according to Taylor.

"Titan is positioned for growth."