Federal-Mogul Announces Divestiture of Torque Converter Business

    SOUTHFIELD, Mich., April 23 Federal-Mogul Corporation today announced it has completed the
divestiture of its torque converter business, TCI, to Competition Cams, Inc.
    (Photo:  http://www.newscom.com/cgi-bin/prnh/20000525/DETH025LOGO )
    TCI remanufactures torque converters for high-performance automotive
aftermarket applications.  TCI became a part of Federal-Mogul when the company
purchased Fel-Pro in 1998.  TCI had net sales of approximately $12 million in
2000.  The business has approximately 90 employees in Ashland, Mississippi,
and a small engineering office in Brighton, Michigan.
    "We are pleased that the TCI team is joining a company that offers them
growth and opportunity," said Federal-Mogul President and Chief Operating
Officer Chip McClure.  "We wish them well as members of Competition Cams."
    A torque converter is a unit in an automatic transmission that transfers
engine torque to the transmission input shaft.  Terms of the transaction were
not disclosed.
    Headquartered in Southfield, Michigan, Federal-Mogul is an automotive
parts manufacturer providing innovative solutions and systems to global
customers in the automotive, small engine, heavy-duty and industrial markets.
The company was founded in 1899.  Visit the company's web site at
http://www.federal-mogul.com for more information.

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