---

SEC Declares Federal Mogul Registration Effective

10 July 1998

Federal-Mogul Announces Effectiveness of Registration Statement With Securities and Exchange Commission

    SOUTHFIELD, Mich., July 10 -- Federal-Mogul Corporation
, announced today that on July 9, 1998, it filed with the
Securities and Exchange Commission Amendment No. 1 to its registration
statement for resales of 7% Trust Convertible Preferred Securities issued by
its subsidiary, Federal-Mogul Financing Trust, and certain related securities.
The Securities and Exchange Commission declared the registration statement
effective July 9, 1998.
    Any holder of the Trust Preferred Securities who was not listed in the
"Selling Holders" section of the registration and wishes to sell their
securities should contact David M. Sherbin, associate general counsel,
Federal-Mogul Corporation, 26555 Northwestern Highway, Southfield, Michigan,
48034, phone 248-354-9924.
    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.