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Federal-Mogul Announces Extension of Exchange Offer

16 August 1999

Federal-Mogul Announces Extension of Exchange Offer For its 7-3/8% Notes Due 2006 and 7-1/2% Notes Due 2009

    SOUTHFIELD, Mich., Aug. 13 -- Federal-Mogul Corporation
today announced that it has extended the expiration date of its
offer to exchange its 7-3/8% Notes due 2006 which have been registered under
the Securities Act of 1933 for any and all of its outstanding 7-3/8% Notes due
2006, of which $400,000,000 aggregate principal amount is outstanding and its
7-1/2% Notes due 2009 which have been registered under the Securities Act of
1933 for any and all of its outstanding 7-1/2% Notes due 2009, of which
$600,000,000 is outstanding, until 5 p.m. EDT, on August 27, 1999.  The
exchange offer was scheduled to expire on Friday, August 13, 1999.
    Federal-Mogul Corporation has been advised by The Bank of New York, the
exchange agent for the offer, that as of the close of business on August 13,
1999, approximately $329 million aggregate principal amount of its outstanding
7-3/8% Notes due 2006 and approximately $431 million aggregate principal
amount of its outstanding 7-1/2% Notes due 2009, have been validly tendered
and not withdrawn pursuant to the offer.
    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, 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.