Herbert A. Morey Elected to Fedders Corporation Board

LIBERTY CORNER, N.J., Dec. 1  /PRNewswire-FirstCall/ -- Fedders Corporation (NYSE:FJC), a leading global manufacturer of air treatment products, including air conditioners, furnaces, air cleaners, dehumidifiers and humidifiers, today announced that Herbert A. Morey has been elected to its Board of Directors and will serve as the Board's Chairman of the Audit Committee.

Mr. Morey is a Certified Public Accountant and a retired Partner with Ernst & Young, LLP, where he served in various capacities from 1962 through 2002.  As a coordinating audit partner from 1989 to 2000, Mr. Morey gained extensive experience serving companies engaged in manufacturing and marketing consumer products and has broad experience in both U.S. GAAP and foreign-based statutory accounting principles.  He advised clients on management, financial, and structural matters, including growth and acquisition strategies. As Chairman, International Investor Services Group from 1983 to 1989, Mr. Morey led Ernst and Young's group responsible for serving foreign companies operating in the U.S. on matters of international business practices, accounting and auditing methodologies.

Mr. Morey served on the International Practice Committee of the American Institute of Certified Public Accountants and is a member of the Board of Directors of Emerson Radio Corporation and Chairman of its Audit Committee. He has authored and edited books on accounting and foreign investment in the U.S.

Commenting on the election of Mr. Morey to the Fedders Board, Fedders Chairman and Chief Executive Officer, Sal Giordano, Jr. said, "Mr. Morey's distinguished record as a CPA and partner at Ernst & Young and his extensive knowledge of international business will be extremely valuable to Fedders. The rest of the Board and I look forward to the expertise and perspective he will bring to our business."

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, [phone],





Web site:  http://www.fedders.com/ 

Copyright