Titan Alters Conversion Offer for Senior Convertible Notes

Titan International, Inc. has alerted holders of its 5.25 per cent senior convertible notes due 2009 that it will convert their notes into Titan’s common stock at an increased conversion rate.

According to financial news media, the notes are currently convertible at a conversion rate of 74.0741 shares of common stock per $1,000 principal amount of notes, or about $13.50 per share.

The increased conversion rate is 81 shares per $1,000 principal amount of notes, or about $12.35 per share. As of January 19, 2007, there were $81.