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Federal-Mogul Will Retain Lighting, Wiper Blade and Fuel Businesses

16 February 2000

Federal-Mogul Will Retain Lighting, Wiper Blade and Fuel Businesses

    SOUTHFIELD, Mich., Feb. 16 -- Federal-Mogul Corporation
today announced its decision to retain its lighting, wiper blade
and fuel businesses, which had previously been identified as divestiture
candidates.  These businesses represent approximately $700 million in annual
sales.
    "After exploring the possible sale of these businesses with numerous
strategic parties, we have concluded that retaining these businesses is in the
best interest of Federal-Mogul's shareholders," said Dick Snell, chairman and
chief executive officer.  "These operations are significant contributors to
the company's earnings and are economic value added (EVA) positive.  While we
were not able to realize full value for these investments under the current
unfavorable market conditions, we are delighted that the employees of these
businesses will continue as part of the Federal-Mogul team.  They have done a
tremendous job of maintaining the operations during this difficult period."
    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.