Fleetwood Completes $50 Million Partial Redemption of 9.5% Convertible Trust III Preferred Securities

RIVERSIDE, Calif., April 8 -- Fleetwood Enterprises, Inc. , the nation's leader in recreational vehicle sales and a leading producer and retailer of manufactured housing, announced today the successful completion of its call for the redemption of $50 million in aggregate liquidation amount of its $150 million issue of 9.5% Convertible Trust III Preferred Securities.

All of the Preferred Securities (liquidation amount $50 per security) that were subject to the partial redemption call were converted into common stock at the rate of 4.826255 shares of common stock per Preferred Security. If the securities had not been converted, the Company would have redeemed them on April 8, 2004, at a redemption price of approximately $53.17 for each trust security, plus accrued and unpaid distributions.

Fleetwood previously announced that it has also called for redemption the remaining $100 million of the 9.5% Convertible Trust III issue, with a redemption date of April 29, 2004.

About Fleetwood

Fleetwood Enterprises, Inc., a Fortune 1000 company headquartered in Riverside, Calif., is a leading manufacturer of a full range of recreational vehicles from motor homes to travel and folding trailers, and is a vertically integrated manufacturer, retailer and financier of manufactured housing. The Company is dedicated to providing quality, innovative products that offer a high value quotient to our customers. Fleetwood operates facilities strategically located throughout the nation, including recreational vehicle and manufactured housing plants, retail home centers, and supply subsidiary plants. For more information, visit the Company's Website at www.fleetwood.com.

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