FJC Fedders

Fedders Acquires Addison Products Company; Forms New Commercial HVAC Business Unit LIBERTY CORNER, N.J., Nov. 2 /PRNewswire-FirstCall/ -- Fedders Corporation (NYSE:FJC), a leading global manufacturer of air treatment products, including air conditioners, air cleaners, dehumidifiers and humidifiers and thermal technology products, today announced that it has purchased the assets of Addison Products Company, a division of Heat Controller Inc. Located in Orlando, Florida, the company, which will become known as Fedders Addison Company, manufactures and markets a broad line of air conditioning products primarily serving commercial and institutional markets. Key markets include supermarkets, schools, hospitals, shopping centers and other establishments that utilize Addison's rooftop packaged heating and cooling units, condensing units, heat pumps, air handlers, vertical packaged units and water source heat pumps, including a full line of 100% outside air units. Addison's sales for the twelve-month period ended September 30, 2004 were approximately $21 million. Commenting on the acquisition, Fedders Chairman and Chief Executive Officer, Sal Giordano, Jr. said, "The acquisition of Addison represents another strategic initiative on the part of Fedders to expand its business in the central air conditioning and heating market. The addition of Addison's products extends Fedders' existing commercial line from its Fedders Eubank division, which makes exterior wall mount packaged air conditioners and heat pumps for the school, wireless telecom and trailer markets. Together with Fedders Eubank Company, Fedders Addison will be part of a new business unit, Fedders Commercial HVAC." Don Peck, Chief Executive Officer of Heat Controller added, "We are pleased that Addison will become part of Fedders. With their expertise in bringing high quality, competitive products to the marketplace, Fedders will help Addison strengthen its position in the markets it serves and ensure its future growth." This news release includes forward-looking statements that are covered under the "Safe-Harbor" clause of the Private Securities Litigation Reform Act of 1995. Such statements are based upon current expectations and assumptions. Actual results could differ materially from those currently anticipated as a result of known and unknown risks and uncertainties including, but not limited to, weather and economic, political, market and industry conditions and reliance on key customers. Such factors are described in Fedders' SEC filings, including its most recently filed annual report on Form 10-K. The company disclaims any obligation to update any forward-looking statements to incorporate developments occurring after release of announcement. Visit the Fedders investor information website at http://www.fedders.com/ to access additional information on Fedders. DATASOURCE: Fedders Corporation CONTACT: Robert Laurent, Jr. of Fedders Corporation, +1-908-604-8686, or Web site: http://www.fedders.com/

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