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Federal-Mogul Declares 246th Consecutive Dividend on Common Stock

23 July 1997

Federal-Mogul Declares 246th Consecutive Dividend on Common Stock

    SOUTHFIELD, Mich., July 23 -- The board of directors of
Federal-Mogul Corporation today declared the regular quarterly
dividend of $.12 a share on the common stock of the company and $.96875 per
share on the Series D convertible exchangeable preferred stock.  It will be
the 246th consecutive dividend paid on the common stock of the company.
    Both third quarter dividends are payable September 10, 1997 to
shareholders of record at the close of the business day August 29, 1997.
    Headquartered in Southfield, Michigan, Federal-Mogul is a $2 billion
global manufacturer and distributor of a broad range of non-discretionary
parts primarily for automobiles, light trucks, heavy trucks, and farm and
construction vehicles.  Visit the company's web site at
 http://www.federal-mogul.com for more information on Federal-Mogul.

SOURCE  Federal-Mogul Corporation