Fleetwood Announces Pricing of Public Offering of Common Stock

RIVERSIDE, Calif., June 20 -- Fleetwood Enterprises, Inc. announced today the pricing of its previously announced public offering of 12,000,000 shares of common stock at a price of $3.40 per share. All of the shares are being offered by the Company. The Company has also granted the underwriter a 30-day option to purchase up to 1,800,000 additional shares of common stock to cover over-allotments, if any. The offering is expected to close on or about June 25, 2008, subject to the satisfaction of customary closing conditions. The Company expects to use the net proceeds from the offering to repay a portion of its outstanding 5% Senior Secured Convertible Debentures and for general corporate purposes.

Lehman Brothers is the sole underwriter for the offering. Copies of the prospectus supplement and related prospectus may be obtained from Lehman Brothers, c/o Broadridge, 1155 Long Island Avenue, Edgewood, New York 11717 (fax: (631) 254-7140 or email: qiana.smith@broadridge.com).

This offering was made pursuant to the Company's shelf registration statement previously filed with the Securities Exchange Commission ("SEC") and declared effective on September 13, 2005.

This press release does not constitute an offer to sell or a solicitation of an offer to buy the shares of common stock or any other securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction.