Federal-Mogul Corporation : Federal-Mogul Defers Refinancing and Extends Rights Offering Expiration Date

   Federal-Mogul Corporation : Federal-Mogul Defers Refinancing and Extends
                       Rights Offering Expiration Date

Southfield, Michigan, June 20, 2013 . Federal-Mogul Corporation  (NASDAQ:FDML) 
commenced a common stock rights offering on  June 7, 2013. At that time,  the 
Company  had  initiated  discussions  with  potential  financing  sources   in 
connection with  the  refinancing of  its  outstanding indebtedness,  and  the 
Company expected that  the refinancing  would be completed  shortly after  the 
completion of  the rights  offering. Due  to volatile  market conditions,  the 
Company intends  to  defer  the  refinancing  activities.  The  Company  will 
continue  to  evaluate  market  conditions  and  other  relevant  factors   in 
connection with the potential refinancing of all or a portion of the Company's
outstanding indebtedness.  There can  be  no assurances  as to  the  ultimate 
timing or terms of any such refinancing.

The completion of the  Company's rights offering is  not conditioned upon  the 
completion of the refinancing. However,  the Company has determined, in  light 
of the deferral  of the refinancing,  to offer rights  holders the ability  to 
withdraw the exercise of any  previously exercised subscription rights and  to 
extend the expiration date of the rights  offering from June 27, 2013 to  5:00 
p.m. EDT on July 1, 2013.

The rights  are  transferrable  and,  with respect  to  trading,  the  Company 
understands that actions have been taken by a market-maker to list the  rights 
on the OTC Bulletin Board. Any questions regarding the rights offering  should 
be directed to  D.F. King &  Co. Inc.,  the Information Agent  for the  rights 
offering, by calling 1-800-901-0068  (toll-free) or 1-212-269-5550  (collect), 
or Computershare Trust Company,  N.A., the Subscription  Agent for the  rights 
offering, by calling 1-800-546-5141.

The rights offering is being made  pursuant to a shelf registration  statement 
on Form  S-3  that was  previously  filed  with the  Securities  and  Exchange 
Commission (the  "SEC") and  became  effective on  May  1, 2013.  The  rights 
offering is  being made  solely  by means  of  the prospectus  and  prospectus 
supplement  that  was  filed  with  the  SEC  on  June  7,  2013.  Additional 
information regarding  the rights  offering  is set  forth in  the  prospectus 
supplement that was filed with the SEC on June 7, 2013.

This press release shall not constitute  an offer to sell or the  solicitation 
of an offer to buy any securities, nor shall there be any offer,  solicitation 
or sale of securities in any state  in which such offer, solicitation or  sale 
would be unlawful prior to registration or qualification under the  securities 
laws of any such state.

About Federal-Mogul

Federal-Mogul Corporation  (NASDAQ:  FDML) is  a  leading global  supplier  of 
products and services to the  world's manufacturers and servicers of  vehicles 
and equipment  in the  automotive, light,  medium and  heavy-duty  commercial, 
marine,  rail,  aerospace,  power  generation  and  industrial  markets.   The 
company's  products  and  services  enable  improved  fuel  economy,   reduced 
emissions and enhanced vehicle safety.

Federal-Mogul operates two  independent business segments,  each with a  chief 
executive  officer   reporting   to  Federal-Mogul's   Board   of   Directors. 
Federal-Mogul's Powertrain Segment designs and manufactures original equipment
powertrain  components  and  systems   protection  products  for   automotive, 
heavy-duty, industrial and transport applications.

Federal-Mogul's Vehicle  Components  Segment  sells and  distributes  a  broad 
portfolio of products  through more  than 20  of the  world's most  recognized 
brands  in  the  global  vehicle  aftermarket,  while  also  serving  original 
equipment vehicle  manufacturers  with products  including  braking,  chassis, 
wipers and other vehicle components. The company's aftermarket brands  include 
ANCO^® wiper  blades;  Champion^®  spark  plugs,  wipers  and  filters;  AE^®, 
Fel-Pro^®, FP Diesel^®, Goetze^®, Glyco^®, Nüral^®, Payen^® and Sealed Power^®
engine products;  MOOG^®  steering  and suspension  parts;  and  Ferodo^®  and 
Wagner^® brake products.  Federal-Mogul was  founded in Detroit  in 1899.  The 
company employs 45,000 people in 34 countries, and its worldwide  headquarters 
is in Southfield, Michigan, United States. For more information, please  visit 

Forward-Looking Statements

Statements contained in  this press  release, which are  not historical  fact, 
constitute "Forward-Looking Statements." Actual results may differ  materially 
due to numerous important factors  that are described in Federal-Mogul's  most 
recent report to the SEC on Form 10-K, which may be revised or supplemented in
subsequent reports to the  SEC on Forms 10-Q  and 8-K. Such factors  include, 
among  others,  fluctuations  in  domestic  or  foreign  vehicle   production; 
fluctuations in the demand for  vehicles containing our products; the  ability 
to refinance the Company's outstanding indebtedness on commercially reasonable
terms or at all; the ability to successfully complete the rights offering  and 
the possible effects of the rights offering on the Company's stockholders; the
Company's ability to  generate cost savings  or manufacturing efficiencies  to 
offset or exceed contractually or  competitively required price reductions  or 
price reductions to obtain new business; the costs, timing and success of  the 
Company's restructuring actions;  conditions in the  automotive industry;  the 
success of the company's segmentation  and corresponding effects; and  general 
global and  regional economic  conditions. Federal-Mogul  does not  intend  or 
assume any obligation to update any forward-looking statements.

CONTACTS: Steve Gaut (248) 354-7826 for investor and media questions


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Source: Federal-Mogul Corporation via Thomson Reuters ONE
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