Federal-Mogul announces consensual agreement on amended plan of reorganization

SOUTHFIELD, Mich. (Nov. 6)—Federal-Mogul Corp. said it has reached an agreement on its amended plan of reorganization with the Unsecured Creditors Committee, Asbestos Claimants Committee, Equity Committee and agents for the future asbestos claimant and prepetition bank lenders. The agreement on the amended plan is consistent with the principal terms of the plan Federal-Mogul filed with the court in March. Federal-Mogul now must file the plan with the Bankruptcy Court for the District of Delaware. CEO Chip McClure said Federal-Mogul will continue working with all parties to emerge from Chapter 11 in mid-2004.