Fleetwood Consolidates Housing Sales Force

RIVERSIDE, Calif., Aug. 6, 2003 -- Fleetwood Enterprises, Inc. , the nation's leader in recreational vehicle sales and a leading producer and retailer of manufactured housing, announced today a significant organizational change within its Housing Group. Effective immediately, the Group is consolidating its Company-owned housing retail operation (Fleetwood Retail Corp., or FRC) with its wholesale sales force, which works with independent retailers, into a single sales organization.

"Wes Chancey, who heads the wholesale team as our vice president of sales, marketing and product design for the Housing Group, has been promoted to president of FRC," said Ed Caudill, president and CEO of Fleetwood Enterprises. "Wes will also retain his current responsibilities, which will enable him to oversee both units while directing the transition to a consolidated sales force. Under Wes' leadership, I fully expect that the integrated Fleetwood sales organization will leverage the Company's strengths and capitalize on potential growth opportunities.

"Jack Darnall, who joined Fleetwood in 1998 and has served as president of FRC since 2001, will be leaving Fleetwood," Caudill added. "I would like to thank Jack for all his hard work and dedicated efforts and wish him the best in his future endeavors."

Along with this move to consolidate all sales activities into one organization, the Company plans to merge FRC's administrative responsibilities into similar functions within the manufacturing division, to better leverage the synergies of a cohesive Housing Group.

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 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. These risk factors include, without limitation, the cyclical nature of both the manufactured housing and recreational vehicle industries; ongoing weakness in the manufactured housing market; the potential impact on demand for our products as a result of weak consumer confidence; the effect of global tensions on consumer confidence; continued acceptance of the Company's products; expenses and uncertainties associated with the introduction of new products; the future availability of manufactured housing retail financing, as well as housing and RV wholesale financing; changes in retail inventory levels in the manufactured housing and recreational vehicle industries; competitive pricing pressures; the ability to attract and retain quality dealers, executive officers and other personnel; and the ability to obtain the financing we need in order to execute our business strategies. Actual results, events and performance may differ materially. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. Fleetwood undertakes no obligation to release publicly the result of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

For further information, please contact: Lyle Larkin, Vice President and Treasurer, +1-909-351-3535, or Kathy Munson, Director-Investor Relations, +1-909-351-3650, both of Fleetwood Enterprises, Inc.