FM And Teikoku = United Piston Rings Inc.

SOUTHFIELD, Mich., Nov. 1 -- Federal-Mogul Corporation form a joint venture for the manufacture of high performance steel piston rings. The joint venture company will be called United Piston Rings, Inc. and will manufacture at Federal-Mogul's current Manitowoc, Wisconsin manufacturing facility. Federal-Mogul and Teikoku will together invest approximately $10 million in United Piston Rings, Inc.

Kevin Baird, senior vice president, Power Cylinder Systems , - North America, Federal-Mogul. ``was quoted as saying "By broadening our strategic alliance with Teikoku, we are taking an important step forward to being the low-cost supplier of steel piston rings in North America.''

``Teikoku is well established as a supplier of automotive piston rings in Japan and Federal-Mogul's Manitowoc operation is recognized as a leading manufacturer of automotive piston rings in North America,'' said Kazuyoshi Aruga, director and general manager of Corporate Planning, Teikoku Piston Ring. ``This combination of manufacturing expertise and product technology will serve the growing needs of automotive engine manufacturers, especially Japanese transplant customers in North America very well.''

Teikoku Piston Ring and Federal-Mogul currently have joint ventures in China, India, the United Kingdom and the United States as well as technology license agreements in Germany, France, Turkey, Korea, the U.K. and the U.S. This is the second joint venture in the U.S. between Teikoku and Federal- Mogul. A cylinder liner joint venture in Lake City, Minnesota was established in 1999.

Teikoku Piston Ring Co., Ltd. was established in Japan in 1939 and is involved in the manufacture of automotive parts including piston rings, cylinder liners, and diesel engines parts. Teikoku currently has 1,200 employees.

Federal-Mogul's Manitowoc facility, established in 1981, currently produces original equipment and replacement rings for a broad range of automotive and heavy-duty diesel applications. The plant employs approximately 600 people.

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 and employs 52,000 people. Visit the company's web site at http://www.federal-mogul.com for more information.