SECURITIES AND EXCHANGE COMMISSION
                            Washington, D.C. 20549

                                   FORM 8-K

                                CURRENT REPORT
                    PURSUANT TO SECTION 13 OR 15(d) OF THE
                        SECURITIES EXCHANGE ACT OF 1934


                               February 25, 2005
         ------------------------------------------------------------
               Date of Report (Date of earliest event reported)


                       Hayes Lemmerz International, Inc.
-------------------------------------------------------------------------------
            (Exact name of registrant as specified in its charter)


            Delaware                     000-50303               32-0072578
-------------------------------------------------------------------------------
(State or other jurisdiction of    (Commission File Number)  (I.R.S. Employer
 incorporation or organization)                             Identification No.)


                          HLI Operating Company, Inc.
-------------------------------------------------------------------------------
            (Exact name of registrant as specified in its charter)


          Delaware                    333-107539                30-0167742
-------------------------------------------------------------------------------
(State or other jurisdiction of  (Commission File Number)    (I.R.S. Employer
 incorporation or organization)                             Identification No.)


              15300 Centennial Drive, Northville, Michigan 48167
              ---------------------------------------------------
              (Address of principal executive offices) (Zip Code)


                                (734) 737-5000
-------------------------------------------------------------------------------
             (Registrant's telephone number, including area code)


                                Not Applicable
-------------------------------------------------------------------------------
         (Former Name or Former Address, if Changed Since Last Report)


Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of
the following provisions:

[ ]   Written communications pursuant to Rule 425 under the Securities Act
      (17 CFR 230.425)

[ ]   Soliciting material pursuant to Rule 14a-12 under the Exchange Act
      (17 CFR 240.14a-12)

[ ]   Pre-commencement communications pursuant to Rule 14d-2(b) under the
      Exchange Act (17 CFR 240.14d-2(b))

[ ]   Pre-commencement communications pursuant to Rule 13e-4(c) under the
      Exchange Act (17 CFR 240.13e-4(c))


<PAGE>


         This report includes forward looking statements within the meaning of
Section 27A of the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934, as amended, which represent the Company's expectations
and beliefs concerning future events that involve risks and uncertainties
which could cause actual results to differ materially from those currently
anticipated. Such information contains certain estimates and other
forward-looking information which is based on assumptions that we believe, as
of the date hereof, are reasonable, however, there will inevitably be
differences between such estimates and our actual results, because events and
circumstances frequently do not occur as expected, and those differences may
be material. The estimates and forward-looking statements contained herein,
while presented with numeric specificity, are based on numerous assumptions
and are subject to significant uncertainties and contingencies, many of which
are beyond our control. Consequently, we cannot assure you that any estimates
and forward-looking statements will be realized. The numbers presented in this
report as actual could change. You are cautioned not to place undue reliance
on the estimates in this report.

ITEM 2.02.  Results of Operation and Financial Condition.

         Hayes Lemmerz International, Inc. (the "Company") issued a press
release today containing updated guidance with respect to its 2004 fiscal year
which ended January 31, 2005, a copy of which is attached hereto as Exhibit 99
and incorporated by reference herein.

         The information contained in this Item 2.02 and in Exhibit 99 is not
filed for purposes of the Securities Exchange Act of 1934 and is not deemed
incorporated by reference by any general statements incorporating by reference
this report or future filings into any filings under the Securities Act of
1933 or the Securities Exchange Act of 1934, except to the extent the Company
specifically incorporates the information by reference. By filing this report
on Form 8-K and furnishing this information, we make no admission as to the
materiality of any information in this report that is required to be disclosed
solely by reason of Regulation FD.

ITEM 2.05.  Costs Associated with Exit or Disposal Activities.

         On February 25, 2005, the Company approved plans for the closure of
its La Mirada, California manufacturing facility and the transfer of
production of the aluminum wheels manufactured at this facility to the
Company's Huntington, Indiana facility, which is located closer to its
customers. The closure will result in the elimination of approximately 120
employee positions. As part of management's on-going rationalization
initiatives, the decision to close the La Mirada facility was based on
improving capacity utilization and overall efficiency of the Company.

         The Company estimates that the closure plan will result in a charge
to earnings of approximately $8.8 million in fiscal 2005. Estimates of the
total cost the Company expects to incur for each major type of cost associated
with the plan are: (i) $2.4 million for lease termination costs; (ii) $2.2
million for severance benefits and employee termination costs, including
worker's compensation charges; (iii) $1.9 million for asset impairments
related to a write-down of the facility's property, plant and equipment and
indirect supplies to net realizable value; (iv) $1.5 million for plant closing
costs and decommissioning costs; and (v) $0.8 million in other associated
costs. Net cash outlays during fiscal 2005 and 2006 related to the closure are
expected to be approximately $6.9 million.

         The Company announced its decision to close the La Mirada facility
today in the press release which is attached hereto as Exhibit 99 and
incorporated herein by reference.

ITEM 2.06.  Material Impairments.

         The disclosure included under Item 2.05 of this Form 8-K and in the
press release attached hereto as Exhibit 99 is incorporated by reference into
this Item 2.06.

ITEM 8.01.  Other Events.

         The disclosure included under Items 2.02, 2.05 and 2.06 of this Form
8-K and in the press release attached hereto as Exhibit 99 is incorporated by
reference into this Item 8.01.

ITEM 9.01.  Financial Statements and Exhibits.

(c) Exhibits.

See Exhibit Index.


<PAGE>


                                  SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the
co-registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.

                                           HAYES LEMMERZ INTERNATIONAL, INC.


                                           By:  /s/ Patrick C. Cauley
                                                -----------------------------
                                                Patrick C. Cauley
                                                Vice President, General Counsel
                                                and Secretary

   Dated: March 3, 2005


Pursuant to the requirements of the Securities Exchange Act of 1934, the
co-registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.


                                           HLI OPERATING COMPANY, INC.


                                           By:  /s/ Patrick C. Cauley
                                                -----------------------------
                                                Patrick C. Cauley
                                                Vice President, General Counsel
                                                and Secretary

   Dated: March 3, 2005



<PAGE>


                                 EXHIBIT INDEX

Exhibit No.       Description
-----------       -----------

99                Press release of the Company dated March 3, 2005.


<PAGE>


                                                                    EXHIBIT 99
                                                                    ----------

      Hayes Lemmerz Announces Strategic Actions to Fuel Long-Term Growth
                        and Improve Financial Profile

   Provides Update on Fiscal Year 2004 Guidance and Fiscal Year 2005 Outlook



NORTHVILLE, Mich., March 3, 2005 -- Hayes Lemmerz International, Inc.
(NASDAQ:HAYZ) announced today strategic actions designed to fuel long-term
growth, support its international expansion, strengthen its competitive
capabilities and improve its financial profile. The actions reflect the
Company's ongoing commitment to grow as a low-cost global automotive supplier
through outstanding customer satisfaction.

"The Company is committed to improving profitability over the long term for
our shareholders and today's announcements are integral to fulfilling this
plan," said Curtis Clawson, President, Chief Executive Officer and Chairman of
the Board of Hayes Lemmerz. "This past year, we have continued to aggressively
implement our strategy of growing in low-cost countries to serve our customers
as they continue to expand in markets outside of the U.S. and Western Europe.
By focusing on customer service, in both new and established markets, and by
implementing the strategic decisions announced today, we believe that the
Company will build value for our shareholders."

The Company announced today plans to:

o    Issue approximately $150 million of Euro denominated, senior unsecured
     notes in a private placement, as described in a press release issued
     earlier today;
o    Establish an accounts receivable securitization program to finance the
     U.S. equivalent of up to $25 million of the Company's international
     accounts receivable; and
o    Close its aluminum wheel manufacturing facility in La Mirada, California
     and transfer the production at this facility to the Company's Huntington,
     Indiana facility.

The Company also announced updated guidance for fiscal year 2004 and updated
its outlook for fiscal year 2005.

Specific details of today's announcements include the following:

Senior Notes Offering

As described in a press release issued earlier today, the Company intends to
offer approximately $150 million of Euro denominated, senior unsecured notes.
The notes offering will be contingent upon obtaining the amendment to the
Credit Agreement described below.

International Accounts Receivable Securitization Program

In order to accelerate cash flow and enhance liquidity in international
locations, the Company has received a commitment from a European financial
institution to establish an accounts receivable securitization program to
finance the U.S. equivalent of up to $25 million of its international accounts
receivable. This program will complete the $100 million accounts receivable
program previously announced by the Company. The program is expected to be
similar to the $75 million accounts receivable securitization facility that
the Company established in the U.S. in December 2004. The Company noted that,
although it expects to finalize the securitization program in the first half
of 2005, there can be no assurance as to whether or when the program will be
completed.


<PAGE>

Credit Agreement Amendment

The Company will seek the approval of the lenders under its $450 million
Senior Secured Term Loan and its $100 million Senior Secured Revolving Credit
Loan of an amendment to its Credit Agreement to permit the Company to use
approximately 50% of the net proceeds from the proposed divestiture of its
Commercial Highway Hub and Drum business for capital expenditures; permit the
Company to offer the new senior unsecured notes and retain a portion of the
proceeds from the notes offering for working capital purposes; and modify
certain financial covenants contained in the Credit Agreement. The Company
said that, although it expects approval of the proposed amendment, no
assurance can be given that the lenders will approve the proposed amendment.

Ongoing Strategy

The Company reiterated its strategy of focusing on actions to maximize
shareholder value. "Our long-term goal has always been to maximize our
shareholder value. We will continue to pursue aggressive cost reductions,
investments in the right geographic markets, and focus our resources on our
core strengths where we have a competitive advantage. And, we must always
consider other strategic options that will maximize long-term value creation
and be in the best interest of our shareholders," said Mr. Clawson.

Consistent with its long-term strategy, the Company announced today that it
intends to close its aluminum wheel manufacturing facility in La Mirada,
California, and transfer that plant's production to the Company's facility in
Huntington, Indiana, which is located closer to its customers. The La Mirada
facility currently employs approximately 120 people.

"Although we regret the impact this decision will have on our La Mirada
employees and their families, this closure will better align our available
capacity with the market, and make our overall cost structure more
competitive," said Mr. Clawson.

As previously reported, the Company is pursuing the sale of its Commercial
Highway Hub and Drum business. The Company may also consider the divestiture
of other non-core businesses.

The Company's capital expenditures for fiscal year 2004 and fiscal year 2005
include significant investments in low-cost countries, such as previously
announced expansions in Mexico, Turkey, Thailand, Brazil and the Czech
Republic. By 2009, the Company projects that over 60% of its aluminum wheel
capacity will be in low-cost countries. The Company also has other projects
under consideration which will further capitalize on this strategic advantage.
"We have a thriving international wheel business with a very diverse customer
base. We are very proud of the great strides taken by our international
colleagues," said Mr. Clawson.

Updated Guidance for Fiscal Year 2004 and Outlook for Fiscal Year 2005

The Company revised its guidance for fiscal year 2004, which ended January 31,
2005. The Company now expects to report total Adjusted EBITDA of approximately
$225 million and expects free-cash flow to be about break-even. The Company's
previous revenue guidance of approximately $2.2 billion and capital
expenditure guidance of approximately $154 million remain unchanged. (See
attachment for reconciliation of Adjusted EBITDA.)

The revised guidance reflects lower U.S. production volumes; valuation
adjustments of certain non-production inventories; higher than expected
one-time costs associated with establishing and testing its internal controls
as required by the Sarbanes-Oxley Act; costs related to the Company's
implementation of SAP throughout its U.S. operations, which is expected to
result in improved operational efficiency; and despite good overall
productivity for 2004, the Company had lower operating efficiencies at two of
its U.S. manufacturing facilities.


<PAGE>

The Company also said that, as of January 31, 2005:

o    Amounts financed under its U.S. accounts receivable securitization
     facility were $57 million;
o    Total debt was approximately $645 million; and
o    Excluding letters of credit of approximately $19 million, the Company had
     no cash draws on its revolving line of credit.

The Company also revised its outlook for fiscal year 2005, ending January 31,
2006. The Company expects total revenue to be approximately $2.3 billion to
$2.4 billion and Adjusted EBITDA to be approximately $220 million to $235
million, while free cash flow is expected to be slightly negative. The
Company's estimated Adjusted EBITDA is reduced from its prior guidance for
fiscal year 2005, primarily because of expected lower North American customer
production requirements in the first quarter of the fiscal year.

The Company noted a number of positive factors that point to a stronger second
half of 2005 for the business. These include recent successful negotiations
with major customers on steel recovery costs; anticipated higher OEM volumes
later in the year; and the launch of significant new customer programs.

"While reduced North American OEM volumes have made 2004 a challenging year
for the Company and the industry, we firmly believe that our focus on
low-cost, high-growth markets distinguishes us from our competitors," said Mr.
Clawson. "The actions announced today are designed to fund our international
growth strategy without compromising our financial position. Our international
strategy has already proven to be very successful. Recently, we acquired and
are expanding an aluminum wheel production facility in Mexico, launched a new
joint venture in Turkey and are expanding operations in Thailand, Brazil and
the Czech Republic. Each of these projects will better serve our customers in
the geographies where they are growing. There are many more opportunities on
the horizon and we look forward to taking advantage of them in the months and
years to come."

The Company will release its fiscal year 2004 financial results on Friday,
April 15, 2005, and host its conference call at 9:30 a.m. (ET). Call in
information for the year-end earnings conference call will be announced
shortly.

Hayes Lemmerz International, Inc. is a world leading global supplier of
automotive and commercial highway wheels, brakes, powertrain, suspension,
structural and other lightweight components. The Company has 43 facilities and
over 11,000 employees worldwide.

This press release includes forward looking statements within the meaning of
Section 27A of the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934, as amended, which represent the Company's expectations
and beliefs concerning future events that involve risks and uncertainties
which could cause actual results to differ materially from those currently
anticipated. All statements other than statements of historical facts included
in this release are forward looking statements. Factors that could cause
actual results to differ materially from those expressed or implied in such
forward looking statements include the factors set forth in our periodic
reports filed with the SEC. Consequently, all of the forward looking
statements made in this press release are qualified by these and other
factors, risks, and uncertainties.

The notes referred to in this press release will not be registered under the
Securities Act of 1933, as amended, and may not be offered or sold in the
United States absent registration or an applicable exemption from registration
requirements. This press release shall not constitute an offer to sell or a
solicitation of an offer to purchase any of the notes nor shall there be any
sale of the notes in any jurisdiction in which such offer, solicitation or
sale would be unlawful prior to registration or qualification under the
securities laws of any such jurisdiction.



<PAGE>


                       Hayes Lemmerz International, Inc.
                     Revised Guidance as of March 3, 2005

(all $ in millions, unless stated otherwise)

<TABLE>
<CAPTION>

                                                      Revised FY 2004 (1)        Revised FY 2005

     Sales                                                $2.2 billion          $2.3 - $2.4 billion
------------------------------------------------------------------------------------------------------

<S>                                                             <C>                  <C>

     Earnings from operations                                 ~ $24                   $0 - $35
           Depreciation & amortization                        ~ 177                  180 - 175
                                                     ------------------------  ----------------------
     EBITDA                                                  ~ $201                 $180 - $210
           Asset impairments/restructuring/other              ~ 24                    40 - 25
                                                     ------------------------  ----------------------
     Adjusted EBITDA(2)                                      ~ $225                 $220 - $235
                                                     ========================  ======================

------------------------------------------------------------------------------------------------------

     Capital Expenditures                                     $154                     ~$145
     (including Mexican low-pressure facility)

------------------------------------------------------------------------------------------------------

     Free Cash Flow                                      break-even                 slightly negative
                                                   (with A/R Securitization)   (with A/R Securitization)


1)   The Company's reported results of operations for fiscal year 2004 will reflect a change in year end for
     its foreign subsidiaries to January 31. Historically, the Company's foreign subsidiaries have had a
     fiscal year end of December 31 and the Company has reported on that 12-month period with respect to its
     foreign operations in its consolidated financial statements.

(2)  EBITDA, a measure used by management to measure operating performance, is defined as earnings from
     operations plus depreciation and amortization. Adjusted EBITDA is defined as EBITDA further adjusted to
     exclude: (i) asset impairment losses and other restructuring charges; (ii) reorganization items; and
     (iii) other items. We reference these non-GAAP financial measures as a management group frequently in our
     decision making because they provide supplemental information that facilitates internal comparisons to
     historical operating performance of prior periods and external comparisons to competitors' historical
     operating performance. Institutional investors generally look to Adjusted EBITDA in measuring
     performance, among other things. We use Adjusted EBITDA to facilitate quantification of planned business
     activities and enhance subsequent follow-up with comparisons of actual to planned Adjusted EBITDA. In
     addition, incentive compensation for management is based on Adjusted EBITDA. Fiscal year 2004 Adjusted
     EBITDA includes approximately $11-$12 million attributable to the Company's Commercial Highway Hub and
     Drum business. We are disclosing these non-GAAP financial measures in order to provide transparency to
     investors.

     Adjusted EBITDA is not a recognized term under GAAP and does not purport to be an alternative to earnings
     from operations as an indicator of operating performance or to cash flows from operating activities as a
     measure of liquidity. Because not all companies use identical calculations, these presentations of
     Adjusted EBITDA may not be comparable to other similarly titled measures of other companies.
     Additionally, Adjusted EBITDA is not intended to be a measure of free cash flow for management's
     discretionary use, as it does not consider certain cash requirements such as interest payments, tax
     payments and debt service requirements.


</TABLE>



Contacts:

o    Marika P. Diamond
     Hayes Lemmerz International, Inc.
     (734) 737-5162
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SECURITIES AND EXCHANGE COMMISSION
                            Washington, D.C. 20549

                                   FORM 8-K

                                CURRENT REPORT
                    PURSUANT TO SECTION 13 OR 15(d) OF THE
                        SECURITIES EXCHANGE ACT OF 1934

                               February 25, 2005
         ------------------------------------------------------------
               Date of Report (Date of earliest event reported)

                       Hayes Lemmerz International, Inc.
-------------------------------------------------------------------------------
            (Exact name of registrant as specified in its charter)

            Delaware                     000-50303               32-0072578
-------------------------------------------------------------------------------
(State or other jurisdiction of    (Commission File Number)  (I.R.S. Employer
 incorporation or organization)                             Identification No.)

                          HLI Operating Company, Inc.
-------------------------------------------------------------------------------
            (Exact name of registrant as specified in its charter)

          Delaware                    333-107539                30-0167742
-------------------------------------------------------------------------------
(State or other jurisdiction of  (Commission File Number)    (I.R.S. Employer
 incorporation or organization)                             Identification No.)

              15300 Centennial Drive, Northville, Michigan 48167
              ---------------------------------------------------
              (Address of principal executive offices) (Zip Code)

                                (734) 737-5000
-------------------------------------------------------------------------------
             (Registrant's telephone number, including area code)

                                Not Applicable
-------------------------------------------------------------------------------
         (Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of
the following provisions:

[ ]   Written communications pursuant to Rule 425 under the Securities Act
      (17 CFR 230.425)

[ ]   Soliciting material pursuant to Rule 14a-12 under the Exchange Act
      (17 CFR 240.14a-12)

[ ]   Pre-commencement communications pursuant to Rule 14d-2(b) under the
      Exchange Act (17 CFR 240.14d-2(b))

[ ]   Pre-commencement communications pursuant to Rule 13e-4(c) under the
      Exchange Act (17 CFR 240.13e-4(c))
This report includes forward looking statements within the meaning of
Section 27A of the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934, as amended, which represent the Company's expectations
and beliefs concerning future events that involve risks and uncertainties
which could cause actual results to differ materially from those currently
anticipated. Such information contains certain estimates and other
forward-looking information which is based on assumptions that we believe, as
of the date hereof, are reasonable, however, there will inevitably be
differences between such estimates and our actual results, because events and
circumstances frequently do not occur as expected, and those differences may
be material. The estimates and forward-looking statements contained herein,
while presented with numeric specificity, are based on numerous assumptions
and are subject to significant uncertainties and contingencies, many of which
are beyond our control. Consequently, we cannot assure you that any estimates
and forward-looking statements will be realized. The numbers presented in this
report as actual could change. You are cautioned not to place undue reliance
on the estimates in this report.

ITEM 2.02.  Results of Operation and Financial Condition.

         Hayes Lemmerz International, Inc. (the "Company") issued a press
release today containing updated guidance with respect to its 2004 fiscal year
which ended January 31, 2005, a copy of which is attached hereto as Exhibit 99
and incorporated by reference herein.

         The information contained in this Item 2.02 and in Exhibit 99 is not
filed for purposes of the Securities Exchange Act of 1934 and is not deemed
incorporated by reference by any general statements incorporating by reference
this report or future filings into any filings under the Securities Act of
1933 or the Securities Exchange Act of 1934, except to the extent the Company
specifically incorporates the information by reference. By filing this report
on Form 8-K and furnishing this information, we make no admission as to the
materiality of any information in this report that is required to be disclosed
solely by reason of Regulation FD.

ITEM 2.05.  Costs Associated with Exit or Disposal Activities.

         On February 25, 2005, the Company approved plans for the closure of
its La Mirada, California manufacturing facility and the transfer of
production of the aluminum wheels manufactured at this facility to the
Company's Huntington, Indiana facility, which is located closer to its
customers. The closure will result in the elimination of approximately 120
employee positions. As part of management's on-going rationalization
initiatives, the decision to close the La Mirada facility was based on
improving capacity utilization and overall efficiency of the Company.

         The Company estimates that the closure plan will result in a charge
to earnings of approximately $8.8 million in fiscal 2005. Estimates of the
total cost the Company expects to incur for each major type of cost associated
with the plan are: (i) $2.4 million for lease termination costs; (ii) $2.2
million for severance benefits and employee termination costs, including
worker's compensation charges; (iii) $1.9 million for asset impairments
related to a write-down of the facility's property, plant and equipment and
indirect supplies to net realizable value; (iv) $1.5 million for plant closing
costs and decommissioning costs; and (v) $0.8 million in other associated
costs. Net cash outlays during fiscal 2005 and 2006 related to the closure are
expected to be approximately $6.9 million.

         The Company announced its decision to close the La Mirada facility
today in the press release which is attached hereto as Exhibit 99 and
incorporated herein by reference.

ITEM 2.06.  Material Impairments.

         The disclosure included under Item 2.05 of this Form 8-K and in the
press release attached hereto as Exhibit 99 is incorporated by reference into
this Item 2.06.

ITEM 8.01.  Other Events.

         The disclosure included under Items 2.02, 2.05 and 2.06 of this Form
8-K and in the press release attached hereto as Exhibit 99 is incorporated by
reference into this Item 8.01.

ITEM 9.01.  Financial Statements and Exhibits.

(c) Exhibits.

See Exhibit Index.
SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the
co-registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.

                                           HAYES LEMMERZ INTERNATIONAL, INC.

                                           By:  /s/ Patrick C. Cauley
                                                -----------------------------
                                                Patrick C. Cauley
                                                Vice President, General Counsel
                                                and Secretary

   Dated: March 3, 2005

Pursuant to the requirements of the Securities Exchange Act of 1934, the
co-registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.

                                           HLI OPERATING COMPANY, INC.

                                           By:  /s/ Patrick C. Cauley
                                                -----------------------------
                                                Patrick C. Cauley
                                                Vice President, General Counsel
                                                and Secretary

   Dated: March 3, 2005
EXHIBIT INDEX

Exhibit No.       Description
-----------       -----------

99                Press release of the Company dated March 3, 2005.
EXHIBIT 99
                                                                    ----------

      Hayes Lemmerz Announces Strategic Actions to Fuel Long-Term Growth
                        and Improve Financial Profile

   Provides Update on Fiscal Year 2004 Guidance and Fiscal Year 2005 Outlook

NORTHVILLE, Mich., March 3, 2005 -- Hayes Lemmerz International, Inc.
(NASDAQ:HAYZ) announced today strategic actions designed to fuel long-term
growth, support its international expansion, strengthen its competitive
capabilities and improve its financial profile. The actions reflect the
Company's ongoing commitment to grow as a low-cost global automotive supplier
through outstanding customer satisfaction.

"The Company is committed to improving profitability over the long term for
our shareholders and today's announcements are integral to fulfilling this
plan," said Curtis Clawson, President, Chief Executive Officer and Chairman of
the Board of Hayes Lemmerz. "This past year, we have continued to aggressively
implement our strategy of growing in low-cost countries to serve our customers
as they continue to expand in markets outside of the U.S. and Western Europe.
By focusing on customer service, in both new and established markets, and by
implementing the strategic decisions announced today, we believe that the
Company will build value for our shareholders."

The Company announced today plans to:

o    Issue approximately $150 million of Euro denominated, senior unsecured
     notes in a private placement, as described in a press release issued
     earlier today;
o    Establish an accounts receivable securitization program to finance the
     U.S. equivalent of up to $25 million of the Company's international
     accounts receivable; and
o    Close its aluminum wheel manufacturing facility in La Mirada, California
     and transfer the production at this facility to the Company's Huntington,
     Indiana facility.

The Company also announced updated guidance for fiscal year 2004 and updated
its outlook for fiscal year 2005.

Specific details of today's announcements include the following:

Senior Notes Offering

As described in a press release issued earlier today, the Company intends to
offer approximately $150 million of Euro denominated, senior unsecured notes.
The notes offering will be contingent upon obtaining the amendment to the
Credit Agreement described below.

International Accounts Receivable Securitization Program

In order to accelerate cash flow and enhance liquidity in international
locations, the Company has received a commitment from a European financial
institution to establish an accounts receivable securitization program to
finance the U.S. equivalent of up to $25 million of its international accounts
receivable. This program will complete the $100 million accounts receivable
program previously announced by the Company. The program is expected to be
similar to the $75 million accounts receivable securitization facility that
the Company established in the U.S. in December 2004. The Company noted that,
although it expects to finalize the securitization program in the first half
of 2005, there can be no assurance as to whether or when the program will be
completed.
Credit Agreement Amendment

The Company will seek the approval of the lenders under its $450 million
Senior Secured Term Loan and its $100 million Senior Secured Revolving Credit
Loan of an amendment to its Credit Agreement to permit the Company to use
approximately 50% of the net proceeds from the proposed divestiture of its
Commercial Highway Hub and Drum business for capital expenditures; permit the
Company to offer the new senior unsecured notes and retain a portion of the
proceeds from the notes offering for working capital purposes; and modify
certain financial covenants contained in the Credit Agreement. The Company
said that, although it expects approval of the proposed amendment, no
assurance can be given that the lenders will approve the proposed amendment.

Ongoing Strategy

The Company reiterated its strategy of focusing on actions to maximize
shareholder value. "Our long-term goal has always been to maximize our
shareholder value. We will continue to pursue aggressive cost reductions,
investments in the right geographic markets, and focus our resources on our
core strengths where we have a competitive advantage. And, we must always
consider other strategic options that will maximize long-term value creation
and be in the best interest of our shareholders," said Mr. Clawson.

Consistent with its long-term strategy, the Company announced today that it
intends to close its aluminum wheel manufacturing facility in La Mirada,
California, and transfer that plant's production to the Company's facility in
Huntington, Indiana, which is located closer to its customers. The La Mirada
facility currently employs approximately 120 people.

"Although we regret the impact this decision will have on our La Mirada
employees and their families, this closure will better align our available
capacity with the market, and make our overall cost structure more
competitive," said Mr. Clawson.

As previously reported, the Company is pursuing the sale of its Commercial
Highway Hub and Drum business. The Company may also consider the divestiture
of other non-core businesses.

The Company's capital expenditures for fiscal year 2004 and fiscal year 2005
include significant investments in low-cost countries, such as previously
announced expansions in Mexico, Turkey, Thailand, Brazil and the Czech
Republic. By 2009, the Company projects that over 60% of its aluminum wheel
capacity will be in low-cost countries. The Company also has other projects
under consideration which will further capitalize on this strategic advantage.
"We have a thriving international wheel business with a very diverse customer
base. We are very proud of the great strides taken by our international
colleagues," said Mr. Clawson.

Updated Guidance for Fiscal Year 2004 and Outlook for Fiscal Year 2005

The Company revised its guidance for fiscal year 2004, which ended January 31,
2005. The Company now expects to report total Adjusted EBITDA of approximately
$225 million and expects free-cash flow to be about break-even. The Company's
previous revenue guidance of approximately $2.2 billion and capital
expenditure guidance of approximately $154 million remain unchanged. (See
attachment for reconciliation of Adjusted EBITDA.)

The revised guidance reflects lower U.S. production volumes; valuation
adjustments of certain non-production inventories; higher than expected
one-time costs associated with establishing and testing its internal controls
as required by the Sarbanes-Oxley Act; costs related to the Company's
implementation of SAP throughout its U.S. operations, which is expected to
result in improved operational efficiency; and despite good overall
productivity for 2004, the Company had lower operating efficiencies at two of
its U.S. manufacturing facilities.
The Company also said that, as of January 31, 2005:

o    Amounts financed under its U.S. accounts receivable securitization
     facility were $57 million;
o    Total debt was approximately $645 million; and
o    Excluding letters of credit of approximately $19 million, the Company had
     no cash draws on its revolving line of credit.

The Company also revised its outlook for fiscal year 2005, ending January 31,
2006. The Company expects total revenue to be approximately $2.3 billion to
$2.4 billion and Adjusted EBITDA to be approximately $220 million to $235
million, while free cash flow is expected to be slightly negative. The
Company's estimated Adjusted EBITDA is reduced from its prior guidance for
fiscal year 2005, primarily because of expected lower North American customer
production requirements in the first quarter of the fiscal year.

The Company noted a number of positive factors that point to a stronger second
half of 2005 for the business. These include recent successful negotiations
with major customers on steel recovery costs; anticipated higher OEM volumes
later in the year; and the launch of significant new customer programs.

"While reduced North American OEM volumes have made 2004 a challenging year
for the Company and the industry, we firmly believe that our focus on
low-cost, high-growth markets distinguishes us from our competitors," said Mr.
Clawson. "The actions announced today are designed to fund our international
growth strategy without compromising our financial position. Our international
strategy has already proven to be very successful. Recently, we acquired and
are expanding an aluminum wheel production facility in Mexico, launched a new
joint venture in Turkey and are expanding operations in Thailand, Brazil and
the Czech Republic. Each of these projects will better serve our customers in
the geographies where they are growing. There are many more opportunities on
the horizon and we look forward to taking advantage of them in the months and
years to come."

The Company will release its fiscal year 2004 financial results on Friday,
April 15, 2005, and host its conference call at 9:30 a.m. (ET). Call in
information for the year-end earnings conference call will be announced
shortly.

Hayes Lemmerz International, Inc. is a world leading global supplier of
automotive and commercial highway wheels, brakes, powertrain, suspension,
structural and other lightweight components. The Company has 43 facilities and
over 11,000 employees worldwide.

This press release includes forward looking statements within the meaning of
Section 27A of the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934, as amended, which represent the Company's expectations
and beliefs concerning future events that involve risks and uncertainties
which could cause actual results to differ materially from those currently
anticipated. All statements other than statements of historical facts included
in this release are forward looking statements. Factors that could cause
actual results to differ materially from those expressed or implied in such
forward looking statements include the factors set forth in our periodic
reports filed with the SEC. Consequently, all of the forward looking
statements made in this press release are qualified by these and other
factors, risks, and uncertainties.

The notes referred to in this press release will not be registered under the
Securities Act of 1933, as amended, and may not be offered or sold in the
United States absent registration or an applicable exemption from registration
requirements. This press release shall not constitute an offer to sell or a
solicitation of an offer to purchase any of the notes nor shall there be any
sale of the notes in any jurisdiction in which such offer, solicitation or
sale would be unlawful prior to registration or qualification under the
securities laws of any such jurisdiction.
Hayes Lemmerz International, Inc.
                     Revised Guidance as of March 3, 2005

(all $ in millions, unless stated otherwise)
Revised FY 2004 (1)        Revised FY 2005

     Sales                                                $2.2 billion          $2.3 - $2.4 billion
------------------------------------------------------------------------------------------------------
Earnings from operations                                 ~ $24                   $0 - $35
           Depreciation & amortization                        ~ 177                  180 - 175
                                                     ------------------------  ----------------------
     EBITDA                                                  ~ $201                 $180 - $210
           Asset impairments/restructuring/other              ~ 24                    40 - 25
                                                     ------------------------  ----------------------
     Adjusted EBITDA(2)                                      ~ $225                 $220 - $235
                                                     ========================  ======================

------------------------------------------------------------------------------------------------------

     Capital Expenditures                                     $154                     ~$145
     (including Mexican low-pressure facility)

------------------------------------------------------------------------------------------------------

     Free Cash Flow                                      break-even                 slightly negative
                                                   (with A/R Securitization)   (with A/R Securitization)

1)   The Company's reported results of operations for fiscal year 2004 will reflect a change in year end for
     its foreign subsidiaries to January 31. Historically, the Company's foreign subsidiaries have had a
     fiscal year end of December 31 and the Company has reported on that 12-month period with respect to its
     foreign operations in its consolidated financial statements.

(2)  EBITDA, a measure used by management to measure operating performance, is defined as earnings from
     operations plus depreciation and amortization. Adjusted EBITDA is defined as EBITDA further adjusted to
     exclude: (i) asset impairment losses and other restructuring charges; (ii) reorganization items; and
     (iii) other items. We reference these non-GAAP financial measures as a management group frequently in our
     decision making because they provide supplemental information that facilitates internal comparisons to
     historical operating performance of prior periods and external comparisons to competitors' historical
     operating performance. Institutional investors generally look to Adjusted EBITDA in measuring
     performance, among other things. We use Adjusted EBITDA to facilitate quantification of planned business
     activities and enhance subsequent follow-up with comparisons of actual to planned Adjusted EBITDA. In
     addition, incentive compensation for management is based on Adjusted EBITDA. Fiscal year 2004 Adjusted
     EBITDA includes approximately $11-$12 million attributable to the Company's Commercial Highway Hub and
     Drum business. We are disclosing these non-GAAP financial measures in order to provide transparency to
     investors.

     Adjusted EBITDA is not a recognized term under GAAP and does not purport to be an alternative to earnings
     from operations as an indicator of operating performance or to cash flows from operating activities as a
     measure of liquidity. Because not all companies use identical calculations, these presentations of
     Adjusted EBITDA may not be comparable to other similarly titled measures of other companies.
     Additionally, Adjusted EBITDA is not intended to be a measure of free cash flow for management's
     discretionary use, as it does not consider certain cash requirements such as interest payments, tax
     payments and debt service requirements.
Contacts:

o    Marika P. Diamond
     Hayes Lemmerz International, Inc.
     (734) 737-5162