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Federal-Mogul Completes Acquisition of Tri-Way Machine

6 January 1999

Federal-Mogul Completes Acquisition of Tri-Way Machine

    SOUTHFIELD, Mich., Jan. 6 -- Federal-Mogul Corporation
today reported the completion of its acquisition of Tri-Way
Machine Limited, a Canadian manufacturer of machines and machining systems,
and its subsidiary, J.I.S. Machining Ltd., a machiner of powertrain
components.
    "The finalization of this strategic acquisition places Federal-Mogul in
the forefront of supplying complete power cylinder systems to the world's
engine manufacturers," said Michael C. Verwilst, vice president, Powertrain
Systems - North America.  "Our combined analytical, manufacturing and system
support capabilities have positioned us to lead the industry in the quest for
lower cost, more robust, faster-to-market systems."
    Tri-Way employs approximately 200 people with sales in 1997 of over $54
million Canadian.  The company's operations are located in Windsor and in
Sterling Heights, Michigan.
    Headquartered in Southfield, Michigan, Federal-Mogul is a $7 billion
automotive parts manufacturer providing innovative solutions and systems to
global customers in the automotive, light truck, heavy-duty, railroad, farm
and industrial markets.  The company was founded in 1899.  Visit the company's
web site at http://www.federal-mogul.com for more information.  Federal-
Mogul's press releases are available by fax through Company News On-Call, call
800-758-5804, ext. 306225.