Federal-Mogul Takes Step Toward Emergence From Restructuring Proceedings

SOUTHFIELD, Mich.--Nov. 1, 20054, 2005--Federal-Mogul Corporation (OTCBB:FDMLQ) said that the U.S. Bankruptcy Court overseeing its restructuring proceedings granted the Company the relief necessary to reach another key milestone set out in the UK Settlement Agreement between, among others, Federal-Mogul and the UK Administrators overseeing the UK restructuring proceedings of the Company's UK subsidiaries.

The Court provided Federal-Mogul and its US and UK subsidiaries all of the approvals they needed for the actions required by the UK Settlement Agreement that were the subject of the November 9 hearing. The Court also agreed with the Administrators' position that they did not need the U.S. Court's authorization or approval to perform all their required actions under the UK Settlement Agreement.

Jose Maria Alapont, Chairman, President & CEO said; "We are pleased with the continued progress toward emergence from Chapter 11 and UK Administration. We thank our customers and all of our stakeholders for their ongoing support."

About Federal-Mogul

Federal-Mogul is a global supplier of automotive components, sub-systems, modules 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 global profitable growth to create value for and bring greater satisfaction to its customers, employees, and stakeholders.

Headquartered in Southfield, Michigan, Federal-Mogul was founded in Detroit in 1899. On October 1, 2001, Federal-Mogul decided to separate its asbestos liabilities from its true operating potential by voluntarily filing for financial restructuring under Chapter 11 of the Bankruptcy Code in the United States and Administration in the United Kingdom. For more information on Federal-Mogul, visit the Company's Web site at http://www.federal-mogul.com.

Note to Editors: There should be an accent symbol over the "e" in "Jose" above.