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2008

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2005

Fedders Receives Final Court Approval
of Chapter 11 Financing Agreement

LIBERTY CORNER, New Jersey -- October 8, 2007 -- Fedders Corporation, a leading global manufacturer of air treatment products, announced today it received final Court approval of debtor-in-possession (DIP) financing from Goldman Sachs Credit Partners L.P., subject to certain conditions and limitations.

Under the terms of the financing agreement, Goldman Sachs Credit Partners will provide a $33 million senior secured revolving facility. This facility is in addition to the existing $46.4 million term loan from Goldman Sachs, which will remain in place.

"We are pleased to report the Court granted final approval of the financing agreement," Michael Giordano, Fedders' President and Chief Executive Officer, said. "The financing will provide the Company with sufficient liquidity as we move forward in the reorganization process."

For more information about Fedders and the reorganization, visit http://www.fedders.com.

About Fedders:

Founded in 1896, Fedders Corporation is a leading global manufacturer of air treatment products, including air conditioners, furnaces, air cleaners and humidifiers for residential, commercial and industrial markets.

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 this announcement. Visit the Fedders investor information website at http://www.fedders.com to access additional information on Fedders.

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