FLE Fleetwood Enterprises

RIVERSIDE, Calif., March 29 /PRNewswire-FirstCall/ -- Fleetwood Homes, an industry leader in factory-built housing for more than five decades, announced today that its modular housing division, Trendsetter Homes, has been selected as the exclusive builder for a Gulf Region housing development in Fairhope, Alabama, which is located on the eastern shore of Mobile Bay. Terms of the agreement were not disclosed. The Gulf Region-based developer selected Trendsetter Homes to supply the single and two-story units. The first of the 13 living units were set on their foundations earlier this week. The finished development will provide affordable housing for 51 international students, who are part of the workforce of a nearby resort. "The efficiencies and speed to completion of modular construction are ideal for the Gulf Region," said John H. Riddle, Vice President of Trendsetter Homes. "We are truly excited to participate in this project, which provides us with another channel for our high-quality, affordable housing. With more than 1 million American families living in homes made by Fleetwood, we are in a unique position to design and construct homes in a wide range of sizes, styles, and price points. In addition, it is satisfying for our associates to be a part of rebuilding the Gulf Coast." According to Riddle, modular homes are well suited to the needs of the Gulf Region for many reasons in addition to the superior pace of construction. The factory-controlled environment, where weather-related damage to building materials is non-existent, allows consistency in the high-quality construction. "Trendsetter's approach to the Gulf Region housing market will be flexible and adaptive to local needs," said Charley Lott, Executive Vice President of Fleetwood Homes. "Our large production capacity and scale as part of Fleetwood Enterprises, Inc., a multi-billion dollar Fortune 1000 company, will allow us to maximize opportunities to help rebuild the Gulf Region." For more information about Trendsetter Homes, please visit http://www.trend-setterhomes.com/. About Trendsetter Homes Trendsetter Homes is the modular housing division of Fleetwood Homes, which operates 20 facilities nationwide and is headquartered in Riverside, Calif. Trendsetter produces modular residential and commercial buildings in a factory-controlled environment for residential builders and the military. The Trendsetter Homes website can be accessed at http://www.trend-setterhomes.com/. About Fleetwood Fleetwood Homes is the housing brand of Fleetwood Enterprises, Inc. (NYSE:FLE), a leading producer of recreational vehicles and manufactured homes through its subsidiaries. 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, factory-built 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, such as the Company's ability to maximize its opportunities to participate in rebuilding the Gulf Coast, 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 lack of assurance that the Company will regain sustainable profitability in the foreseeable future; the Company's ability to comply with financial tests and covenants on existing debt obligations and to obtain future financing needed in order to execute its business strategies; the volatility of the Company's stock price; the impact of ongoing weakness in the manufactured housing market and more recent weakness in the recreational vehicle market; the effect of global tensions, fuel prices, interest rates, and other factors on consumer confidence, which in turn may reduce demand for Fleetwood's products, particularly RV products; the availability and cost of wholesale and retail financing for the Company's products, especially manufactured housing; the cyclical and seasonal nature of both the manufactured housing and recreational vehicle industries; expenses and uncertainties associated with the entry into new business segments or the manufacturing, development and introduction of new products; the potential for excessive retail inventory levels in the Company's industries, especially the recreational vehicle business; potential increases in the frequency of product liability, wrongful death, class action, and other legal or regulatory actions; the highly competitive nature of our industries; lack of acceptance of Fleetwood's products; and repurchase agreements with floorplan lenders, which could result in increased costs . Contact: Kathy Munson, Director of Investor Relations, 951-351-3650 JoAnne Foist, Director of Marketing Services, 951-351-3367 DATASOURCE: Fleetwood Enterprises, Inc. CONTACT: Kathy Munson, Director of Investor Relations, +1-951-351-3650, or JoAnne Foist, Director of Marketing Services, +1-951-351-3367, both of Fleetwood Enterprises, Inc. Web site: http://www.trend-setterhomes.com/ Web site: http://www.fleetwood.com/

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