Accuride Announces Debt Restructuring Agreement

* U.S. entities file voluntary Chapter 11 petition under U.S. Bankruptcy Code
with prearranged agreement with bondholders and senior lenders
* All operations continue to operate "business as usual"
* Secures $50 million in DIP financing
* Unsecured trade creditors expected to be paid in full

EVANSVILLE, Ind.--(Business Wire)--
Accuride Corporation (OTCBB: AURD) today announced that it has agreed to a
balance sheet restructuring with the ad hoc committee of holders of its 8½
percent senior subordinated notes (Notes) and the steering committee of senior
lenders under its credit agreement. In the proposed debt restructuring
transaction:

* Accuride will amend its existing credit agreement to modify certain financial
covenants and extend its maturity through June 30, 2013.
* The Notes will be cancelled and noteholders will receive 98 percent of the
common stock of the reorganized Accuride, subject to dilution, including
dilution for stock issued upon conversion of the new notes and warrants
described below.
* The reorganized Accuride will complete a $140 million rights offering of new
senior unsecured convertible notes to current noteholders. The rights offering
is fully backstopped by certain current Noteholders. The new notes will be
convertible into 60 percent of the common stock of the reorganized Accuride. A
portion of the proceeds from the rights offering will be used to repay the
"last-out" term loan currently held by an affiliate of Sun Capital Partners,
with the remainder to provide on-going liquidity for Accuride`s business.
* Unsecured trade creditors will be unimpaired and their claims will be paid in
full.

* Current stockholders will receive 2 percent of the common stock of the
reorganized Accuride and two-year warrants exercisable for 15 percent of the
common stock of the reorganized Accuride,subject to dilution, including dilution
for stock issued upon conversion of the new notes. The warrants provide the
opportunity for an additional recovery to the prepetition equity holders in the
event that the Company reaches certain equity value targets during the two years
following the warrants` issue.

To complete the proposed restructuring, Accuride`s U.S. entities filed a
voluntary petition for protection under Chapter 11 of the U.S. Bankruptcy Code
and are seeking approval for the proposed plan of reorganization. Accuride`s
Canadian and Mexican subsidiaries are not included in the bankruptcy filing. All
operations will continue to operate "business as usual." With the prearranged
agreement Accuride is hopeful that it will be able to emerge from bankruptcy on
an expedited basis with a confirmed plan of reorganization.

To ensure that Accuride will continue conducting its business in the ordinary
course without interruption, the Company has secured a $50 million
"debtor-in-possession" (DIP) credit facility to be provided by certain of its
senior lenders and noteholders. Such financing will provide peace of mind to
Accuride`s customers and suppliers and allow the Company to maintain or restore
normal trade terms with suppliers.

"Accuride`s debt restructuring efforts are designed to create a sustainable
capital structure that will support greater profitability and solidify the
Company`s position as the market leader in its product categories," said Bill
Lasky, Accuride`s President, CEO, and Chairman of the Board. "Accuride expects
to quickly emerge from Chapter 11 having rationalized its capital structure and
de-levered its balance sheet. I believe this restructuring transaction maximizes
our financial flexibility and positions Accuride for future growth."

Forward-looking statements

Statements contained in this news release that are not purely historical are
forward-looking statements within the meaning ofSection 27A of the Securities
Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934,
as amended, including statements regarding Accuride`s expectations, hopes,
beliefs and intentions with respect to the proposed restructuring transaction
and its proposed new capital structure.Accuride`s actual future results could
differ materially from those expressed or implied in such forward-looking
statements, and such statements are subject to a number of risks, uncertainties
and other factors.These factors include, among other things, whether Accuride is
able to obtain bankruptcy court approval for the restructuring transaction,
potential loss of support for the restructuring transaction by the senior
lenders or noteholders, non-acceptance of the restructuring transaction by other
Accuride stakeholders, delays in the confirmation or effective date of the
restructuring transaction, failure to meet certain restructuring transaction
objectives and milestones, otherwise being unable to consummate the
restructuring transaction and whether Accuride determines that another
restructuring alternative provides greater value to Accuride and its
stakeholders.In addition, such statements are subject to the impact on
Accuride`s business and prospects generally of, among other factors, market
demand in the commercial vehicle industry, general economic, business and
financing conditions, labor relations, governmental action, competitor pricing
activity, expense volatility and other risks detailed from time to time in
Accuride`s Securities and Exchange Commission filings, including those described
in Item 1A of Accuride`s Annual Report on Form 10-K for the fiscal year ended
December 31, 2008. Any forward-looking statement reflects only Accuride`s belief
at the time the statement is made. Although Accuride believes that the
expectations reflected in these forward-looking statements are reasonable, it
cannot guarantee its future results, levels of activity, performance or
achievements.Except as required by law, Accuride undertakes no obligation to
update any forward-looking statements to reflect events or developments after
the date of this news release.

Accuride Corporation
Investors:
Todd Taylor, 812-962-5105
or
Media:
Eva Schmitz, 812-962-5011

Copyright Business Wire 2009