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Federal-Mogul Announces Filing of Shelf Registration

29 May 1998

Federal-Mogul Announces Filing of Shelf Registration Statement With Securities and Exchange Commission

    SOUTHFIELD, Mich., May 29 -- Federal-Mogul Corporation
, announced today that on May 28, 1998 the Company filed with the
Securities and Exchange Commission a shelf registration statement for resales
of 7% Trust Convertible Preferred Securities issued by its subsidiary,
Federal-Mogul Financing Trust, and certain related securities.  This
registration statement was filed pursuant to the Registration Rights
Agreement, dated as of December 1, 1997, among the Company, the Trust and
Morgan Stanley & Co. Incorporated, as Initial Purchaser.
    Any holder of the Trust Preferred Securities that wishes to use the
prospectus included in the registration statement after such registration
statement becomes effective in connection with a resale of the Trust Preferred
Securities must be identified in the "Selling Holders" section of that
prospectus.  Owners of Trust Preferred Securities wishing to be identified as
Selling Holders should promptly fill out and return the questionnaire found at
the end of the Offering Memorandum distributed in connection with the initial
issuance of the Trust Preferred Securities, in accordance with the
instructions found in the questionnaire.  Additional copies of the
questionnaire may be requested from Christine Cusmano, Federal-Mogul
Corporation, 26555 Northwestern Highway, Southfield, Michigan, 48034, phone
248-354-8663.
    Headquartered in Southfield, Michigan, Federal-Mogul is a $5 billion
automotive parts manufacturer providing innovative solutions and systems to
global customers in the automotive, light truck, heavy-duty, farm and
industrial markets.  The company was founded in 1899.  For more information on
Federal-Mogul, visit the company's web site at http://www.federal-mogul.com.
Federal-Mogul's press releases are available by fax through Company News
On-Call, call 800-758-5804, ext. 306225.