Federal-Mogul Hopes To Sell Signal-Stat Lighting

SOUTHFIELD, Mich., Feb. 6 Federal-Mogul Corporation today announced it has signed an agreement to sell the business, defined assets and inventory of its Signal- Stat® Lighting Products division to Truck-Lite Co., Inc., a subsidiary of Penske Company LLC, for $23 million subject to customary closing adjustments. The purchase agreement is subject to approval by the U.S. Bankruptcy Court in Wilmington, Delaware after compliance with approved bidding procedures. A hearing is scheduled for February 26, 2002. Federal-Mogul's letter of intent with Truck-Lite was approved by the court on January 14, 2002.

Signal-Stat Lighting Products produces exterior lighting and power distribution products principally for heavy duty and commercial vehicle markets serving both original equipment and aftermarket customers. Signal- Stat sales were approximately $54 million in 2001.

Signal-Stat's exterior product lines, which include clearance and marker lamps, signal lamps, back-up lamps and alarms and emergency lighting, accounted for approximately 70% of annual sales. Power distribution products include such items as turn signal switches, daytime running lamps, lamp plugs and flashers.

No Federal-Mogul manufacturing facilities are included in the sale as the business occupies portions of five different locations. Those locations are: Logansport, Indiana; El Paso and Brownsville, Texas; and Juarez and Matamoros, Mexico. Federal-Mogul locations in Sparta, Tennessee and Boyertown, Pennsylvania will continue to supply certain products to Signal-Stat under a supply agreement with Truck-Lite.

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.