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Federal-Mogul Successfully Completes Offering

26 June 1998

Federal-Mogul Successfully Completes Offering of $1 Billion Debt Securities

    SOUTHFIELD, Mich., June 25 -- Federal-Mogul Corporation
, today announced it has successfully completed a bond offering of
$1 billion, consisting of 6-year, 8-year and 12-year maturities.
    The average weighted yield for the debt is 7.76% and the average weighted
coupon is 7.73%.  Federal-Mogul intends to apply net proceeds of the fixed-
rate offering to reduce floating rate bank debt.
    The company issued the debt under its $2.5 billion shelf registration
filed with the Securities and Exchange Commission.  Chase Securities Inc. and
Bear, Stearns & Co. Inc. were the lead underwriters for the syndicate.
    Headquartered in Southfield, Michigan, Federal-Mogul is a $5 billion
automotive parts manufacturer providing innovative solutions and systems to
global customers in the automotive, light truck, heavy-duty, farm and
industrial markets.  The company was founded in 1899.  For more information on
Federal-Mogul, visit the company's web site at http://www.federal-mogul.com.
Federal-Mogul's press releases are available by fax through Company News
On-Call, call 800-758-5804, ext. 306225.