ANDERSON, Ind., Nov. 7 /PRNewswire/ -- Remy Worldwide Holdings today
announced that it has received final approval from the Bankruptcy Court of
its $225 million debtor-in-possession (DIP) facility led by Barclays
Capital, the investment division of Barclays Bank PLC.
    "The approval of the final DIP facility is right in line with our game
plan, and keeps us on track to complete our consensual restructuring and
emerge from chapter 11 in early December as planned," said John Weber,
Remy's Chief Executive Officer. "The DIP facility provides more than
adequate resources to fund our post-petition obligations to suppliers and
employees and our other operating requirements during the plan confirmation
process."
    A hearing to confirm Remy's prepackaged plan of reorganization is
scheduled for November 20.
    Remy filed its voluntary chapter 11 petitions and plan of
reorganization in the U.S. Bankruptcy Court for the District of Delaware in
Wilmington on October 8, 2007.
    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 being a debtor in
possession in a chapter 11 proceeding including the confirmation of the
prepackaged plan of reorganization, 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 both DIP and exit financing loan
commitments and the occurrence of a termination event thereunder, future
financial results and liquidity including the Company's continued ability
to finance its operations in the normal course during the chapter 11
proceeding, 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, 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.

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