Remy Announces Overwhelming Acceptance of Prepackaged Plan of Reorganization

Remy Worldwide Holdings, Inc. today announced that it has received overwhelming acceptance of its prepackaged plan of reorganization and as previously disclosed will proceed to promptly commence voluntary proceedings under Chapter 11 of the U.S. Bankruptcy Code to seek confirmation of the plan. Specifically, in excess of 99.9 % in dollar amount and 98.1% in number of holders of 8-5/8% Senior Notes and 100% in dollar amount and 100% in number of holders of 9-3/8% Senior Subordinated Notes and 11% Senior Subordinated Notes that voted on the prepackaged plan, voted to approve the plan.

As previously disclosed, the key elements of the prepackaged plan include:

* Repayment of the Company's secured creditors in full.

* Raise $85 million in preferred equity through a backstopped rights offering to be made to holders of the Company's Senior Notes and Senior Subordinated Notes.

* Total debt reduction of $360 million through:

* Exchange of the Company's $145 million of existing 8-5/8% Senior Notes for $100 million of New Third-Lien Notes and $45 million in cash (plus an amount of cash equal to the accrued but unpaid interest through the filing date (estimated to be $10 million) and up to $2 million of new preferred stock in respect of post petition interest). In addition, these note holders will receive a $10 million consent fee for agreeing to the overall restructuring.

* Reduction of the Company's unsecured debt obligations by $315 million by converting the 9-3/8% Senior Subordinated Notes and 11% Senior Subordinated Notes into 100% of the common equity of the reorganized company.

* Cancellation of all of the Company's existing equity interests.

"We are extremely pleased with the overwhelming support we received from our noteholders and we are working expeditiously to initiate our prepackaged chapter 11 filing as planned," said John Weber, President and CEO.

About Remy

Remy International, headquartered in Anderson, Indiana, is a leading manufacturer, remanufacturer and distributor of Delco Remy brand heavy-duty systems and Remy brand starters and alternators, locomotive products and hybrid power technology. The Company also provides a worldwide components core-exchange service for automobiles, light trucks, medium and heavy-duty trucks and other heavy-duty, off-road and industrial applications.

Caution Regarding Forward-Looking Statements:

This press announcement contains statements relating to future results of the Company that are forward-looking statements. Any statements set forth in this press announcement with regard to its expectations as to financial results and other aspects of its business may constitute forward-looking statements. These statements relate to the Company's future plans, objectives, expectations and intentions and may be identified by words like "believe," "expect," "may," "will," "should," "seek," or "anticipate," and similar expressions. The Company cautions readers that any such forward-looking statements are based on assumptions that the Company believes are reasonable, but are subject to a wide range of risks including, but not limited to, risks associated with becoming a debtor in possession in a chapter 11 proceeding, with the satisfaction of the conditions to the plan support agreement, including, but not limited to, as a result of the occurrence of a termination event thereunder, the satisfaction of conditions to funding occurring under the company's current loan facility, and the occurrence of an event thereunder, future financial results and liquidity including the Company's continued ability to finance its operations in the normal course, the Company's relationship with and payment terms provided by its trade creditors, additional financing requirements, compliance with renegotiated key supplier agreements, dispositions, acquisitions and integration costs, development of new products and services, the effect of competitive products or pricing, the effect of commodity and raw material prices, the impact of supply chain cost management initiatives, restructuring risks, enterprise resource planning implementation risks, customs duty claims, litigation uncertainties and warranty claims, conditions in the automotive industry including labor disruptions, foreign currency fluctuations, costs related to re-sourcing and outsourcing products, the effect of economic conditions and other uncertainties previously detailed in the Company's filings with the SEC. Due to these uncertainties, the Company cannot assure readers that any forward- looking statements will prove to have been correct. Remy International is under no obligation to (and expressly disclaims any such obligation to) update or alter any forward-looking statements whether as a result of new information, future events or otherwise.