Exhibit 99.1

For Immediate Release
June 28, 2002

   Delco Remy International Closes $250 Million Credit Facility with Wachovia



     Anderson, Indiana, June 28, 2002/PR Newswire/Delco Remy International,
Inc., a leading supplier of aftermarket and OEM electrical and
powertrain/drivetrain products for automotive, heavy duty and industrial
applications, today announced that it has completed the agreements and closed
the transaction for its $250 million secured, asset based, revolving credit
facility with a syndicate of banks, led by Wachovia Bank, National Association
and its subsidiary Congress Financial Corporation. This facility replaces the
Company's existing secured revolving credit facility of $200 million, which was
due to expire on March 31, 2003. The new facility extends through March 31, 2006
and has provisions for annual extensions thereafter. The Company intends to use
this facility to refinance borrowings under the Company's existing credit
agreement and for general corporate purposes including, but not limited to,
general operating and working capital needs.

     "Strategically, a long-term borrowing facility that is linked to the asset
base of the Company will provide better flexibility and support for the
significant growth prospects of the Company," said Raj Shah, Executive Vice
President and Chief Financial Officer.

     Statements in this press announcement, which are not historical, are
     forward-looking statements within the meaning of Section 27A of the
     Securities Act of 1933, as amended, and Section 21E of the Securities
     Exchange Act of 1934 that involve certain risks and uncertainties,
     including, but not limited to risks associated with the uncertainty of
     future financial results, acquisitions, additional financing requirements,
     development of new products and services, the effect of competitive
     products or pricing, the effect of economic conditions and other
     uncertainties detailed from time to time in the Company's filings with the
     Securities and Exchange Commission which you may obtain for free at the
     SEC's website, www.sec.gov. These forward-looking statements are made only
     as of the date of this press release and Delco Remy undertakes no
     obligation to update or revise these forward-looking statements.

Investor Relations:       David E. Stoll      765-778-6523
Media Relations:          John J. Pyzik       765-778-6607
Delco Remy Web site:      http:/www.delcoremy.com