SOUTHFIELD, Mich., Aug. 19 --PRNewswire/AsiaNet Fedderal-Mogul Corporation has announced that the United States Bankruptcy Court for the District of Delaware has approved the Disclosure Statement describing the Third Amended Joint Plan of Reorganization (the "Plan") for Federal-Mogul Corporation and certain of its US and UK affiliated companies (the "Debtors"). Approval of the Disclosure Statement and its related materials authorizes the Debtors to begin soliciting votes from creditors and interest holders on the Plan. The Bankruptcy Court has set 3 November 2004 at 4:00 p.m. (US Eastern Time) as the deadline by which votes to accept or reject the Plan must be received. Anyone with claims against the Debtors, including claims relating to exposure to asbestos or asbestos-containing products manufactured, distributed, sold or possessed by any of the Debtors may vote on the Plan. Claimants are encouraged to read the Plan and Disclosure Statement carefully for details about how the Debtors' reorganization may affect their rights. The Bankruptcy Court will consider whether to confirm the Plan at a hearing on 9 December 2004. Key Parts of the Plan The Plan provides for the payment of claims against and interests in the Debtors. The Plan further proposes a Trust to pay asbestos personal injury and wrongful death claims that relate to exposure to asbestos or asbestos-containing products manufactured, distributed, sold or possessed by any of the Debtors. If the Plan is confirmed, all asbestos personal injury and wrongful death claims will be permanently channeled to the Trust. Anyone with asbestos-related claims will then be forever barred from asserting their claims directly against any of the Debtors. Asbestos Personal Injury and Wrongful Death Claims Proof of an asbestos personal injury or wrongful death claim does not have to be filed with the Bankruptcy Court at this time. The Bankruptcy Court has established special procedures for holders of asbestos personal injury or wrongful death claims to vote on the Plan. Lawyers for holders of these claims may vote on the Plan on behalf of their clients if authorized by their client. How to Vote on or Object to the Plan The Plan may affect claimants' legal rights regardless of whether they vote on the Plan. A ballot for voting on the Plan may be obtained by mail, telephone, or over the Internet as shown below. Information to help claimants decide how to vote is available as well. The deadline to vote on the Plan is 3 November 2004 at 4:00 p.m. (US Eastern Time). To be counted, a ballot voting on the Plan must be received by the Voting Agent by that date and time at one of the following addresses: If by mail: The Garden City Group, Inc. Federal-Mogul Ballot Processing PO Box 8872 Melville, NY 11747-8872 USA OR If by overnight courier or hand delivery: The Garden City Group, Inc. Federal-Mogul Ballot Processing 105 Maxess Road Melville, NY 11747 USA OR Federal-Mogul Ballot Processing c/o Corporate Mailing Matters Clipper House 32 Mastmaker Court Mastmaker Road London E14 9UB UNITED KINGDOM Federal-Mogul Corporation and T&N Limited are two of 157 affiliated companies in the Federal-Mogul reorganization proceedings. One hundred thirty-four (134) of those companies are incorporated under the laws of the United Kingdom, and are parties to Administration proceedings in that country. A vote to accept or reject the Plan will also be a proxy on certain matters in the United Kingdom administration proceedings. Any objections to the Plan must be submitted in writing and received by 3 November 2004 at 4:00 p.m. (US Eastern Time) to be considered. Objections should be sent to the Clerk of the Bankruptcy Court, United States Bankruptcy Court for the District of Delaware, 824 Market Street, 3rd Floor, Wilmington, Delaware 19801 USA. The Hearing on the Plan The Bankruptcy Court will hold a hearing to confirm the Plan on 9 December 2004 at 10:00 a.m. (US Eastern Time) before the Honorable Raymond T. Lyons, United States Bankruptcy Judge, at the Clarkson S. Fisher U.S. Courthouse, 402 East State Street, Courtroom 4, Trenton, New Jersey 08608 USA. Claimants may attend the hearing, but are not required to do so. The hearing to confirm the Plan may be adjourned from time to time without further notice. If the hearing is adjourned, the new date and time for the earing to confirm the Plan will be posted on the Internet at http://www.fmoplan.com. Additional Information A detailed notice describing the Plan, called the Disclosure Statement, together with a copy of the Plan itself and voting materials, called a Solicitation Package, is being mailed to known holders of claims against the Debtors or their lawyers. Additional information (including copies of the Plan and Disclosure Statement) can be obtained by calling the Debtors' Voting Agent at +1-941-906-4604, or by visiting the Federal-Mogul Reorganization Website at http://www.fmoplan.com. A complete list of the companies involved in the Debtors' reorganization is also available at the website and may also be obtained by contacting the Voting Agent by telephone or at the addresses listed above. About Federal-Mogul Federal-Mogul is a leading global supplier offering the most comprehensive portfolio of quality products, trusted brands and creative solutions to the automotive and other industries. The company utilizes its engineering and materials expertise, proprietary technology, manufacturing skill, distribution flexibility and marketing power to create value for its stakeholders and exceed customer expectations. Headquartered in Southfield, Michigan, Federal-Mogul was founded in Detroit in 1899 and today employs more than 45,000 people in 29 countries. On 1 October 2001, Federal-Mogul decided to separate its asbestos liabilities from its true operating potential by voluntarily filing for financial restructuring under Chapter 11 of the Bankruptcy Code in the United States and commencing Administration proceedings in the United Kingdom. For more information on Federal-Mogul, visit the company's Website at http://www.federal-mogul.com. SOURCE: Federal-Mogul CONTACT: Gina Ziegler of the Garden City Group, Inc. +1-941-906-4621 or [email protected] Web site: http://www.federal-mogul.com http://www.fmoplan.com --Distributed by AsiaNet (www.asianetnews.net)----InfoQuest (SP)--