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Federal-Mogul Releases 1998 Quarterly Pro Forma Sales and Operational EBIT

25 May 1999

Federal-Mogul Releases 1998 Quarterly Pro Forma Sales and Operational EBIT

    SOUTHFIELD, Mich., May 24 -- Federal-Mogul Corporation
today released 1998 pro forma sales and operational EBIT.  The
numbers reflect the company's results for 1998, adjusted for the full year
effect of acquisitions and divestitures.  The acquisitions included: T&N, Fel-
Pro, the automotive businesses of Cooper Industries, Bimet, KFM Bearing,
Glockler, Tri-Way and Camshaft Machine.  Divestitures included:  Glacier
Vandervell, Heat Transfer, Fel-Pro Chemical and the remaining Federal-Mogul
retail operations.

           Federal-Mogul Pro Forma* Sales and Operational Earnings
                         Year Ended December 31, 1998

                  Quarter 1     Quarter 2    Quarter 3    Quarter 4    Year

    Sales
    ($ million)     $1,624        $1,679       $1,575       $1,571    $6,449

    Operational EBIT
    ($ million)       $168          $179         $181         $191      $719

    *  Assumes all acquisitions and divestitures were in place for a full
       year.

    1998 operational EBIT numbers include $51 million in synergy the company
achieved as a result of acquisition activity.
    "We remain on track to realize $225 million in incremental 1999 synergy
as previously disclosed," said Thomas W. Ryan, executive vice president and
chief financial officer.  "The incremental synergy combined with $150 million
in net new 1999 business announced on April 28 should contribute to healthy
1999 results."
    Headquartered in Southfield, Michigan, Federal-Mogul is an automotive
parts manufacturer providing innovative solutions and systems to global
customers in the automotive, light truck, heavy-duty, and 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.
    Information in this press release contains forward-looking statements
under the private Securities Litigation Reform Act of 1995.  Actual results,
events and performance could differ materially from those contemplated by
these statements such as the timing of new business development, conditions in
the automotive components industry and other factors discussed in the
company's 1998 Annual Report on Form 10-K and other filings with the
Securities and Exchange Commission.