FJC Fedders

LIBERTY CORNER, N.J., April 27 /PRNewswire-FirstCall/ -- Fedders Corporation (NYSE:FJC), a leading global manufacturer of air treatment products, including air conditioners, furnaces, air cleaners, dehumidifiers and humidifiers for residential, commercial and industrial markets, today announced that its board of directors has elected the company's president, Michael Giordano, 42, chief executive officer (CEO) elect, effective immediately and until October 1, 2006 when he will become president and chief executive officer. Sal Giordano, Jr., the company's CEO since 1988, will continue as executive chairman. With Fedders since 1990, Michael Giordano has held numerous U.S.-based and international positions and has been involved in all aspects of the company's transformation from a North American manufacturer and marketer of appliance- type room air conditioners to a global company focused on the much larger, growing and more profitable central residential, commercial and industrial markets for air treatment products, primarily in North America, China and India. Since becoming president in November 2004, Mr. Giordano has assumed operating responsibility for Fedders International, Fedders Residential HVAC and Fedders Commercial/Industrial Products, as well as the company's global engineering, sourcing, product planning and sales and marketing activities. Prior to becoming president, Mr. Giordano was executive vice president, finance and administration and chief financial officer since 1999. In 1996, Mr. Giordano relocated to Singapore as managing director of Fedders Asia and has since been instrumental in establishing and managing the company's strategic operations around the globe. Commenting on his election as CEO elect, Michael Giordano said, "The Fedders team is very focused on executing our strategic plan and growing sales in profitable segments of the markets we serve. As a result of our transformation, we have a powerful combination of high quality products, low cost manufacturing and product development capabilities that will enable us to attain a high level of growth and profitability." Further commenting, Fedders Chairman and Chief Executive Officer, Sal Giordano, Jr. said, "Michael has been a key player in Fedders transformation to a diversified, global participant in the $37 billion market for residential, commercial and industrial air treatment products, as opposed to the $1 billion no growth U.S. room air conditioner market." 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: Judy Katz, +1-908-604-8686 Web site: http://www.fedders.com/

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