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Federal-Mogul Responds to Media Reports Regarding Reorganization

SOUTHFIELD, Mich., April 9 In response to various news reports today, Federal-Mogul Corporation has issued the following statement:

Federal-Mogul has not agreed to the terms of any plan of reorganization that would permit it to emerge from Chapter 11.

``We continue to work diligently with all parties involved in our restructuring, and we remain optimistic that with our leadership a consensual resolution can and will be reached,'' said Frank Macher, chairman and chief executive officer.

The Board of Directors and the management team remain in control of the company.