14th November 2007 - Federal-Mogul to Emerge from Bankruptcy by Year-End

Federal-Mogul Corporation Announces Affirmation of its Plan of Reorganization, This Will Allow the Company to Emerge from Chapter 11

Federal-Mogul Corporation announced that following the confirmation of its Fourth Amended Joint Plan of Reorganization on November 8 by the U.S. Bankruptcy Court on a wholly consensual basis without objections, the U.S. District Court, Honorable Joseph H. Rodriguez presiding, today affirmed the Plan. This will allow the Company’s emergence from Chapter 11 before year end.

Federal-Mogul voluntarily filed in 2001 for Chapter 11 in the United States and Administration in the United Kingdom in order to separate its asbestos liabilities from its true operating potential. These restructuring proceedings provided the Company the opportunity to emerge from bankruptcy as a leading global automotive supplier.

“We are extremely pleased to have reached this significant milestone signaling the emergence of the Company from Chapter 11 proceedings,” said Federal-Mogul Chairman, President and Chief Executive Officer José Maria Alapont. “The Federal-Mogul team worldwide is devoted to exceeding employee, customer and stakeholder expectations through service and operational excellence, leading technology and the Company’s sustainable global profitable growth strategy.”

About Federal-Mogul

Federal-Mogul Corporation is a leading global supplier, serving the world’s foremost original equipment manufacturers of automotive, light commercial, heavy-duty, agricultural, marine, rail, off-road and industrial vehicles, as well as the worldwide aftermarket. The Company’s leading technology and innovation, lean manufacturing expertise, as well as marketing and distribution deliver world-class products, brands and services with quality excellence at a competitive cost. Federal-Mogul is focused on its global profitable growth strategy, creating value and satisfaction for its customers, employees and stakeholders. Federal-Mogul was founded in Detroit in 1899. The Company is headquartered in Southfield, Michigan, and employs 45,000 people in 35 countries. Visit the company’s Web site at www.federal-mogul.com.

Source: Federal-Mogul Press Release