Federal-Mogul Common Stock Off NYSE now Will Trade on the Over-The-Counter (OTC) Bulletin Board

SOUTHFIELD, Mich., April 22 - Trading of Federal- Mogul Corporation's common stock will begin Wednesday April 24, 2002 on the NASD over-the-counter (OTC) bulletin board under a new ticker symbol to be determined on Wednesday. The OTC Bulletin Board® (OTCBB) is a regulated quotation service that displays real-time quotes, last-sale prices and volume information to more than 3,600 OTC equity securities. Information regarding the OTCBB can be found at http://www.otcbb.com .

The New York Stock Exchange announced today that it had determined the common stock of Federal-Mogul Corporation -- ticker symbol FMO -- should be delisted from the exchange. The NYSE told Federal-Mogul it made the decision to delist the common stock because the company had fallen below the NYSE's continued listing standard regarding average closing price of less than $1.00 over a consecutive 30 trading day period and that Federal-Mogul did not cure this non-compliance prior to the expiration of the NYSE's allowable cure period.

``The delisting from the New York Stock Exchange does not affect Federal- Mogul's normal business operations,'' said Frank Macher, chairman and chief executive officer. ``While we are disappointed with the Exchange's decision, we remain focused on providing products and services of value to our customers worldwide.''

On October 1, 2001 Federal-Mogul and its United States subsidiaries filed for financial restructuring under Chapter 11 of the U.S. Bankruptcy Code. The company's United Kingdom subsidiaries had also filed jointly for Chapter 11 and Administration under the U.K. Insolvency Act of 1986.

Federal-Mogul is a global supplier of automotive components and sub- systems serving the world's original equipment manufacturers and the aftermarket. The company utilizes its engineering and materials expertise, proprietary technology, manufacturing skill, distribution flexibility and marketing power to deliver products, brands and services of value to its customers. Federal-Mogul is focused on the globalization of its teams, products and processes to bring greater opportunities for its customers and employees, and value to its constituents. Headquartered in Southfield, Michigan, Federal-Mogul was founded in Detroit in 1899 and today employs 49,000 people in 24 countries. For more information on Federal-Mogul, visit the company's web site at http://www.federal-mogul.com .