Fleetwood Announces Offering of 12,000,000 Shares of Common Stock

RIVERSIDE, CA - June 20, 2008: Fleetwood Enterprises announced yeterday that it intends to commence an underwritten public offering of 12,000,000 shares of its common stock. The Company expects to grant the underwriter a 30-day option to purchase up to 1,800,000 additional shares of common stock from Fleetwood. The Company expects to use the net proceeds from the offering to repay a portion of its 5% Senior Secured Convertible Debentures outstanding and for general corporate purposes.

Lehman Brothers is the sole underwriter for the offering. When available, copies of the preliminary prospectus supplement and related prospectus may be obtained from Lehman Brothers, c/o Broadridge, 1155 Long Island Avenue, Edgewood, New York 11717 (fax: (634) 254-7140 or email: qiana.smith@broadridge.com).

Fleetwood Enterprises, Inc., through its subsidiaries, is a leading producer of recreational vehicles and manufactured homes. This Fortune 1000 company, headquartered in Riverside, Calif., is dedicated to providing quality, innovative products that offer exceptional value to its customers. Fleetwood operates facilities strategically located throughout the nation, including recreational vehicle, manufactured housing and supply subsidiary plants.