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Federal-Mogul Completes T&N Acquisition

6 March 1998

Federal-Mogul Completes T&N Acquisition

    SOUTHFIELD, Mich., March 6 -- Federal-Mogul Corporation
, today announced that it has satisfied all of the conditions
relating to the acquisition of T&N plc and has made the offer wholly
unconditional.  Federal-Mogul expects to make payment for the outstanding
shares no later than March 13, 1998.
    Federal-Mogul's acquisition of T&N will:
    *  create a highly competitive global supplier of auto parts;
    *  expand its manufactured product portfolio to offer systems and modules;
    *  enhance Federal-Mogul's ability to provide a high quality service to
       both its original equipment and aftermarket customers;
    *  extend Federal-Mogul's international reach and accelerate its worldwide
       aftermarket growth;
    *  create an organization which builds on the strength of the leadership,
       expertise and working practices of two strong companies to further
       improve efficiencies.
    In completing the T&N acquisition, Federal-Mogul has entered into a
Consent Order with the Federal Trade Commission which requires the divestiture
of T&N's worldwide thinwall and metal-backed polymer dry bearing business.
    "We are excited about a new era for Federal-Mogul as the world's premier
global automotive supplier in powertrain and sealing systems," said Dick
Snell, chairman and chief executive officer.  "The acquisition of T&N,
combined with our recently completed purchase of Fel-Pro, provides us with the
international reach in the design, manufacturing, and technological
development capabilities to serve our customers better than anyone else.  By
leading the consolidation effort in powertrain components, we have the product
portfolio to meet our customers' desire for systems and modules."
    Headquartered in Southfield, Michigan, Federal-Mogul is a global
manufacturer of a broad range of non-discretionary parts primarily for
automobiles, light trucks, heavy trucks, and farm and construction vehicles.
The company was founded in 1899.  Visit the company's web site at
http://www.federal-mogul.com for more information.

SOURCE  Federal-Mogul Corporation