SOUTHFIELD, MI.-- Federal-Mogul has announced that United Kingdom Administrated Company Voluntary Arrangements (CVAs) resolution became effective yesterday (Oct. 11).

This completes a substantial portion of Federal-Mogul's global restructuring, which began on Oct. 1, 2001, when the company decided to separate its asbestos liabilities from its true operating potential by voluntarily filing for administration proceedings in the U.K. and for financial restructuring in the U.S. under Chapter 11 of the Bankruptcy Code.

Under the CVAs, Federal-Mogul retains all of the U.K. Administrated businesses. These include activities in Europe, the Americas and Asia-Pacific.

Federal-Mogul and the plan co-proponents in the U.S. are working to finalize the Amended Chapter 11 Plan of Reorganization, the Supplemental Disclosure Statement and a Supplemental Voting and Notice Procedures Motion that is expected to soon lead to emergence from bankruptcy.

"We are pleased with the recent developments that bring the company closer to emergence from a complex bankruptcy proceeding," said Federal-Mogul Chairman, President and Chief Executive Officer Jose Maria Alapont. "We remain focused on our global profitable growth strategy to provide world-class products and services with leading technology and innovation that satisfy customer, employee and stakeholder expectations."

For more information about Federal-Mogul, go to: http://www.federalmogul.com.