Federal-Mogul Announces Joint Venture in Turkey

SOUTHFIELD, Mich., Nov. 10, 2003 -- Federal-Mogul Corporation (BULLETIN BOARD: FDMLQ) announced today that it will produce cylinder liners for a Japanese automaker in a new joint venture in Europe. Teikoku Piston Ring Co., Ltd. of Japan will own 49.9 percent of the company, and a holding company -- comprised of Federal-Mogul and a Dereli family-owned company -- will own 50.1 percent.

(Logo: http://www.newscom.com/cgi-bin/prnh/20000525/DETH025LOGO )

It is anticipated that a new plant will be built to produce the cylinder liners in Gebze, a free trade zone about 25 miles east of Istanbul, Turkey, by mid-February 2004.

"The rings and liners group has made significant progress in becoming globally connected to Teikoku and Japanese car makers such as Toyota, Honda and Nissan," said Rainer Jueckstock, senior vice president, pistons, rings and liners. The existing Federal-Mogul relationship with Teikoku includes joint ventures that manufacture piston rings and cylinder liners in the United States, Germany, India and China.

Federal-Mogul also has a long-standing relationship with the Dereli family and currently has joint ventures in Turkey making pistons, rings, pins and liners, as well as selling other engine parts such as bearings and gaskets.

"We are pleased to build on our strong relationship with Dereli and Teikoku," Jueckstock said. "This new venture combines the synergies of Teikoku, Federal-Mogul and Dereli and reinforces our presence with our Asian customers, while leveraging technological expertise and low-cost production opportunities."

Federal-Mogul is a global supplier of automotive components, sub-systems and 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, Mich., Federal-Mogul was founded in Detroit in 1899 and today employs more than 46,000 people in 24 countries. For more information on Federal-Mogul, visit the company's Web site at www.federal-mogul.com .

Photo: NewsCom: http://www.newscom.com/cgi-bin/prnh/20000525/DETH025LOGO
PRN Photo Desk, +1-888-776-6555 or +1-212-782-2840

Company News On-Call: http://www.prnewswire.com/comp/306225.html