Remy International Closes the Rights Offering

PENDLETON, Ind., Jan. 20, 2011 /PRNewswire/ — Remy International, Inc. (the
“Company”) announced today the consummation of its common stock rights offering
(the “Rights Offering”), which expired at 5:00 p.m., New York City time, on
Tuesday January 18, 2011. The Company also announced that it has received the
requisite 66 2/3% common shareholder vote approving the Rights Offering and the
proposed Amendment to its Certificate of Incorporation to allow the Company to
redeem its Series A Preferred Stock and Series B Preferred Stock at its option.

Pursuant to the terms of the Rights Offering, the Company offered shares of
common stock at a price of $11 per share to existing holders of common stock as
of November 12, 2010 who certified to the Company that they are accredited
investors or institutional accredited investors. Eligible shareholders exercised
rights for approximately 19.7 million shares of common stock resulting in
proceeds of approximately $217 million, including cancellation of approximately
$ 93.5 million worth of shares of Preferred Stock. At the end of the offering,
Remy will have approximately 31.6 million shares of Common outstanding.

The Board of Directors held a special meeting on Wednesday, January 19, 2011,
and decided to cancel any over-subscription rights based on the success of the
initial offering. Additionally, the Board of Directors declared a dividend on
the remaining shares of Series A and Series B Preferred Stock to stockholders of
record on January 20, 2011, and called for the notice of redemption of the
remaining Series A and Series B preferred stock to be redeemed on January 31,
2011.

Mr. John Weber, Remy’s President and CEO, stated, “We are extremely excited by
the support shown by our investors and the market. Their enthusiasm for Remy has
allowed us to generate sufficient proceeds from the initial rights offering to
redeem all preferred stock. Upon completion of the preferred stock redemption,
Remy’s new capital structure will consist of only bank debt and common stock.
Remy now has a very efficient capital structure which will allow us to compete
effectively and aggressively grow our business both organically and
strategically.”

If you have any questions, please contact Fred Knechtel, Remy’s Chief Financial
Officer, at 765-778-6871.

About Remy International, Inc.

Remy International, Inc., headquartered in Pendleton, Indiana, is a leading
global manufacturer, remanufacturer and distributor of light duty starters and
alternators and Delco Remy brand heavy-duty systems. Remy International also
manufactures and distributes electric propulsion motors designed with
leading-edge technology and backed by the security of over a billion miles of
proven reliability. In business for over 100 years, today Remy International is
actively collaborating with companies throughout the world to develop
innovations that are transforming the vehicle industry. Recently, Remy
International was recognized by the United States Department of Energy for its
leadership role in the hybrid technologies space and awarded a $60 million grant
under the Electric Drive Vehicle Battery and Component Manufacturing Initiative.

Safe Harbor Statement

This press release is neither an offer to sell nor the solicitation of an offer
to buy Shares of Remy Common Stock, nor shall there be any sale of these Shares
of Common Stock in any state in which such offer, solicitation or sale would be
unlawful prior to registration or qualification under the securities laws of any
such state. Offers of Remy Common Stock will only be made by means of an
offering circular. Information contained on Remy’s website is not part of an
offering circular.

This press release contains forward-looking statements. All statements contained
in this press release that are not clearly historical in nature or that
necessarily depend on future events are forward-looking, and the words
“anticipate,” “believe,” “expect,” “estimate,” “plan” and similar expressions
are generally intended to identify forward-looking statements. Investors are
cautioned that all forward-looking statements involve certain risks and
uncertainties that are difficult to predict and are based upon assumptions as to
future events that may not prove to be accurate. Although Remy International,
Inc. believes the assumptions underlying the forward-looking statements
contained herein are reasonable, there can be no assurance that the
forward-looking statements included in this press release will prove to be
accurate.

CONTACT: Matt Steward, Westcomm, msteward@westcommonline.com, 317-270-4894

SOURCE Remy International, Inc.

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