Fleetwood RV Places 20 Million In Private Debt

RIVERSIDE, Calif., Oct. 26 -- Fleetwood Enterprises, Inc. , today announced that it has privately placed 2,209,945 restricted shares of Common stock with Acqua Wellington Private Placement Fund, Ltd., for gross proceeds of $20 million.

Fleetwood plans to use the proceeds of the transaction for general corporate purposes.

The shares have not been 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. Fleetwood has agreed to register these shares for resale. This press release does not constitute an offer of any securities for sale.

Acqua Wellington Asset Management Ltd. advises a family of funds targeted at investment opportunities among mid-cap and small-cap companies in domestic and global equity markets.

Fleetwood is the nation's largest manufacturer of recreational vehicles and a leading producer and retailer of manufactured housing, with manufacturing operations throughout the U.S. and in Canada.

This press release contains certain forward-looking statements and information based on the beliefs of Fleetwood's management as well as assumptions made by, and information currently available to, Fleetwood's management. Such statements include, without limitation, Fleetwood's plans regarding the use of the proceeds from the transaction. Such statements reflect the current views of Fleetwood with respect to future events and are subject to certain risks, uncertainties, and assumptions, including risk factors identified in Fleetwood's 10-K and other SEC filings.