FLE Fleetwood Enterprises

RIVERSIDE, Calif., Aug. 22 /PRNewswire-FirstCall/ -- Fleetwood Enterprises, Inc. (NYSE:FLE), a leading producer of recreational vehicles and manufactured housing, announced today the appointment of Michael B. Shearin as vice president - human resources. Shearin will report directly to President and CEO Elden L. Smith. Shearin is returning to Fleetwood, where he worked from 1999 to 2002. He originally joined the Company as its first compensation manager. He was later asked to assume the additional responsibility for all health and welfare programs. In 2001, he was promoted to human resources director - compensation and benefits, where he also took on such generalist human resource responsibilities as associate relations and recruiting. Shearin left Fleetwood in 2002 to work for McKesson Corporation, located in San Francisco, CA, where he most recently served as director, compensation and benefits. Smith said, "Mike is a highly qualified and widely respected human resources professional. We are pleased to welcome him back to Fleetwood as our vice president - human resources. In this key position he will be a valuable addition to our executive team." Before joining Fleetwood in 1999, Shearin was the director of compensation for the American Stores Company, a Fortune 100 company, for four years. He has a solid background in pay program design, incentive plan design, benefits, and human resource generalist disciplines. Shearin holds a bachelor of science degree in business administration from John F. Kennedy University in Walnut Creek, CA. Shearin will begin his new position on September 6, 2005. About Fleetwood Fleetwood Enterprises, Inc. is a leading producer of recreational vehicles and manufactured homes. This Fortune 1000 company, headquartered in Riverside, Calif., is dedicated to providing quality, innovative products that offer exceptional value to its customers. Fleetwood operates facilities strategically located throughout the nation, including recreational vehicle, manufactured housing and supply subsidiary plants. For more information, visit the Company's website at http://www.fleetwood.com/. This press release contains certain forward-looking statements and information based on the beliefs of Fleetwood's management as well as assumptions made by, and information currently available to, Fleetwood's management. Such statements reflect the current views of Fleetwood with respect to future events and are subject to certain risks, uncertainties, and assumptions, including risk factors identified in Fleetwood's 10-K and other SEC filings. These risks and uncertainties include, without limitation, the cyclical nature of both the manufactured housing and recreational vehicle industries; ongoing weakness in the manufactured housing market; continued acceptance of the Company's products; the potential impact on demand for Fleetwood's products as a result of changes in consumer confidence levels; the effect of global tensions on consumer confidence; expenses and uncertainties associated with the introduction and manufacturing of new products; the future availability of manufactured housing retail financing, as well as housing and RV wholesale financing; exposure to interest rate and market changes affecting certain of the Company's assets and liabilities; availability and pricing of raw materials; changes in retail inventory levels in the manufactured housing and recreational vehicle industries; competitive pricing pressures; the ability to attract and retain quality dealers, executive officers and other personnel; the Company's ability to successfully meet its obligations with respect to Section 404 of the Sarbanes-Oxley Act; and the Company's ability to obtain financing needed in order to execute its business strategies. Contact: Lyle Larkin, Vice President-Treasurer (951) 351-3535 Kathy A. Munson, Director-Investor Relations (951) 351-3650 DATASOURCE: Fleetwood Enterprises, Inc. CONTACT: Lyle Larkin, Vice President-Treasurer, +1-951-351-3535, or Kathy A. Munson, Director-Investor Relations, +1-951-351-3650, both of Fleetwood Enterprises, Inc. Web site: http://www.fleetwood.com/

Copyright