Delek Group Announces Consolidated Results for the Third Quarter and First Nine Months of 2008

TEL AVIV, November 30 /PRNewswire-FirstCall/ — Delek Group Ltd. (TASE:
DLEKG.TA) (hereinafter: “Delek Group” or “The Group”) announced today its
results for the three and nine month period ending September 30, 2008. The
full financial statements will be available in English on Delek Group’s
website from Monday 1st December at: http://www.delek-group.com.

    Nine Month Highlights

    - Consolidated revenues up 41% year over year reaching NIS
      40.6 billion

    - NIS 2.1 billion profit from operating income

    - Automotive, Energy and Infrastructure continue to show solid
      performance

    - Net results primarily impacted by overall macroeconomic
      crisis affecting both real-estate sectors as well as insurance and
      financial service holdings; subsequently reported net loss of NIS
      371 million

Group revenues for the first nine months of 2008 was NIS 40.6 billion, a
growth of 41% compared with NIS 29.4 billion in the same period last year.
Revenues for the third quarter of 2008 increased 27% reaching NIS 13.5
billion, compared to NIS 10.6 billion in the same period last year. The
increase in revenues is due to an increase in revenues from the sale of fuels
in Israel, the USA and Europe, from an increase in refinery revenues in the
USA, and from an increase in revenues of Delek Automotive.

Net income from operating activities for the nine months totaled NIS 2.1
billion compared to a net income from operating activities of NIS 2.9 billion
in the nine months 2007.

Results for the first nine months were negatively impacted by the
macroeconomic environment, affecting valuations of the Company’s holdings in
the real estate sector, resulting primarily in the impairment of assets and
the fair value adjustments of financial derivatives; as well as the slowdown
in the global and Israeli capital markets which impacted the Company’s
insurance and financial services holdings. Furthermore, the Company’s US
based insurance holding was also affected by the three hurricanes which hit
certain regions insured by Republic, during the summer months. This was
partially offset by the strong performance of the automotive, energy and
infrastructure sectors.

As a result of the above noted factors, the Company reported a net loss
for the nine months of 2008 totaling NIS 371 million, compared with a net
profit of NIS 1.01 billion in the same period last year. Net loss for the
third quarter of 2008 totaled NIS 612 million, compared with a net profit of
NIS 484 million in the same quarter of last year. This net loss is primarily
the result of the factors outlined above.

Financial expenses were significantly increased in the nine months,
amounting to NIS 2.3 billion compared with NIS 1.2 billion in the
corresponding period last year. This was primarily as a result of the
increased credit raised to finance the Company’s growth strategy, including
RoadChef and the European Fuel Operations. In addition, the consolidation of
the property companies in Delek Real Estate after the DGRE offering also
increased the debt balance. Financial expenses were also impacted by the rise
in the Israeli Consumer Price Index which total 5.0% for the nine months,
compared to 2.8% in the nine months last year.

Mr. Asaf Bartfeld, CEO of Delek Group commented, “As we navigate these
complex times, our globally diverse portfolio on four continents serves as an
anchor, as it covers four different sectors meeting different global needs -
automotive retail, energy and infrastructure, as well as real estate and
insurance. We are clearly focusing on carefully managing our balance sheet
with maximum emphasis on maintaining a positive cash flow. These principals
are a driving factor at all levels of the group, and we are working closely
with each of our companies to ensure that this same liquidity principle is
being diligently followed throughout the Group.”

Continued Mr. Bartfeld, “The macroeconomic environment, and its impact on
both our real estate and Israeli insurance holdings was a primary factor this
quarter drawing us to present a net loss. This was however, partially offset
by the sound performance of our automotive, energy and infrastructure
holdings. A large component of our real estate losses this quarter resulted
from impairments on our real estate assets, goodwill and financial
derivatives, due to the macro environment. This was a non-cash charge and
resulted from an accounting impairment. Excluding these impairments our
results would have been at the breakeven level. As highlighted, our core
holdings of energy and infrastructure generated sound performance and after
the reporting period, our infrastructure subsidiary signed an MOU with Tnuva
to build an additional independent power station. Another positive
development in our energy sector is our initiation during November 2008 of
drilling for natural gas in the Mediterranean Sea near Haifa, together with
Nobel, our US partner in the Yam Tethys project.”

Concluded Mr. Bartfeld, “Looking ahead, our professional management team,
with previous experience in navigating cyclical markets with an average
tenure of 15 years managing our companies, as well as our globally diverse
and premier portfolio will offer us the necessary tools to weather the
current downturn. We also have a solid cash position and a strong ability to
service our debt, with a relatively lengthy average maturity. In parallel, we
continue to closely monitor developments, refining our strategy as
circumstances require, prioritizing investments, with a key focus on
continually building and maximizing shareholder value.”

    Main Business Highlights for the Third quarter of 2008

    Contribution of Principal Operations to Net Profit* (NIS millions)

                                            FY    Q1-Q3  Q1-Q3     Q3     Q3
                                                   2007   2008
                                           2007                   2007   2008
    US Fuel Sector Operations              353     371     73     102     27
    Israeli Fuel Sector Operations         138      75     85      40     31
    Capital Gains on Sale of Amisragas2     86      86     -       86     -
    Delek Europe1                           31      13     63      13     10
    Oil and Gas Exploration                 90      70     59      36     40
    Oil Exploration Expenses               (58)    (58)   (46)     -     (7)
    Automotive Operations                  245     186    300      59    110
    Real Estate Operations                 210     103   (440)     13   (428)
    Insurance and Finance Operations       178     197   (237)     33   (198)
    Reduction in value of financial         -       -    (128)     -     (95)
    derivatives
    Capital Gains & Others                  34      58   (100)    102   (102)
    Net Income                            1,307   1,101  (371)    484   (612)

* This table has been extracted from Delek Group’s Third Quarter 2008
Directors Report. Please review the full report available on the Group’s
website www.delek-group.com to view the notes for each of the items above.
Please note that 2007 results are restated according to IFRS accounting
principles.

1 Delek’s European activities started at the beginning of August 2007.

2 39% of Amisragas was sold by Delek – the Israel Fuel Company during the
third quarter of 2007.

Energy

Delek US (Delek Group holds 73% end-Q3 2008): Net income for the first
nine months of 2008 was NIS 103 million compared with NIS 472 million in the
same period last year. In the third quarter 2008, Delek US’ results were
positively impacted by an increase in the 5-3-2 Gulf Coast crack spread
compared to the first half of 2008, a significant decline in wholesale fuel
prices in August and September which contributed to higher fuel margins, in
addition to continued ethanol blending at the retail and refining segments.
However, the average overall crack spread for the nine month period was
significantly lower than the same period last year.

On November 20, 2008 there was a fire at a fuel refinery at Tyler, Texas,
which resulted in an employee fatality. Activity at the refinery has
subsequently ceased, pending an investigation of the circumstances which led
to the event and to assess the extent of damages. According to preliminary
tests, the critical activities at the refinery were not damaged, and nor was
the terminal at the refinery. Thus, sales of the remaining inventory to
customers will continue.

In accordance with the Company’s existing risk management program, Delek
US currently carries $1 billion in combined limits to cover property damage
and business interruption. Delek US has a $5 million deductible for property
damage insurance. In addition, Delek US’ business interruption insurance
carries a 45-day waiting period.

Delek – the Israel Fuel Company Ltd. (TASE: DLKIS; Delek Group holds 89%
end-Q3 2008): Net income for the first nine months of 2008 was NIS 102
million compared with 195 million in the same period last year. In the third
quarter of last year, Delek Israel had a non-recurring capital gain of
approximately NIS 91 million from the sale of 39% in Amisragaz. Revenue,
gross and operating profit were higher in the reporting period and were
driven by improved operating efficiencies, an increase in volume of sales, an
increase in the contribution of the convenience store chain and the inclusion
of the production and storage operations acquired August 2007. However, net
income was negatively affected due to increased financing expenses and
inventory losses, as compared with that of last year.

Delek Europe. Net income for the first nine months of 2008 was Euro 12
million, and Euro 2 million in the third quarter of 2008. Delek Europe was
established in August 2007 following the acquisition of 869 gas stations in
the Benelux region. For comparison, in the months from August to end of
December 2007, net income was Euro 5 million. Delek Europe had reduced gross
margins in the quarter, compared with those of previous quarters, which
affected its net income. This was primarily due the sharp fall in global oil
prices which lowered the value of its inventory.

The Oil and Gas Exploration, and Gas Production sector, generated a net
income of NIS 13 million in the first nine months in 2008, compared to a net
income of NIS 12 million in the same period last year. The total sale of
natural gas from the Yam Tethys reservoir, off the coast of Israel, increased
by 40% to $122 million during the third quarter reaching a historic high.
Following the end of the reporting period the platform for the new drilling
site, Tamar, arrived at its location near the Northern coast of Israel and
began drilling for natural gas in November 2008. Delek indirectly has a 31%
interest in the Tamar project.

Infrastructure

The Group continues to develop its strategy in the infrastructure area
with a focus on water desalination and power plant construction. In May, IDE,
the Company’s water desalination subsidiary which is 50% (indirectly) held by
Delek Group, won a tender to supply three desalination plants for an Asian
customer for approximately USD 80 million. In July 2008, IDE signed a
contract to establish a desalination plant for an industrial client in
Australia at a sale price of more than EUR 100 million.

In April, IPP, the Company’s power plant subsidiary which is 100% held
(indirectly) by Delek Group, entered into an agreement to supply electricity
to Nilit Ltd., for approximately NIS 70 million per year, up to the end of
2011 with an option to extend for a further six years. Additionally,
following the balance sheet closing date, in mid-November, IPP signed an
agreement with Tnuva for the establishment and operation of a private
cogeneration plant, generating 50 megawatts of electricity, as well as steam
and thermal oil for Tnuva, in the area surrounding Tnuva.

Insurance and Financial Services

The activities of this segment are primarily conducted through Delek
Capital, as well as two insurance companies; Israeli insurance company,
Phoenix Holdings Ltd. (TASE: PHOE), and general US insurer, Republic
Companies, Inc. held through wholly-owned Delek Finance US Inc. The insurance
and financial services sector contributed a loss of NIS 237 million to the
Group’s net income in the first nine months of 2008, compared to a net income
of NIS 197 million in the same period last year. The results of the Israeli
insurer Phoenix were affected mainly by the weak and volatile global capital
markets, in the third quarter. During the third quarter three major
hurricanes (Dolly, Gustav and Ike) hit the region of Texas and Louisiana
leading to a significant impact on the results of the US insurer Republic
based in the region. These events were the main cause for the loss to
Republic in the third quarter of approximately $30 million.

Real Estate Operations

Delek Real Estate (TASE: DLKR; Delek Group holds 69% end-Q3): In the
reporting period, Delek Group purchased an additional 17% of the outstanding
share capital of Delek Real Estate for NIS 227 million. Delek Real Estate’s
net loss for the first nine months of 2008 reached NIS 667 million, compared
with net profit of NIS 253 million in the same period last year. A number of
factors contributed to the net loss mainly a decrease in the value of the
assets due to negative market conditions in Real Estate globally, decrease in
value of financial derivatives, the increase in the Consumer Price Index in
Israel and the write-down of goodwill in the accounts.

Subsequent to the end of the current reporting date, the Board of
Directors passed a resolution according to which the Company will distribute
all or most of Delek real Estate’s shares held by it to the Company’s
shareholders. This remains subject to obtaining the required approvals.

Automotive Operations

Delek Automotive Systems Ltd. (TASE: DLEA; Delek Group holds 55% end-Q3):
Delek Automotive Systems’ net income for the first nine months of 2008
totalled NIS 525 million, a 63% increase compared with NIS 323 million in the
same period last year. The increase in net income was driven mainly by the
strong growth in sales of new cars in Israel during the period. Delek
Automotive maintains a 23% market share in the Israeli automobile market
through the exclusive import and distribution of the Mazda and Ford brands.

Conference Call Details

The Company will be hosting a conference call in English on Monday,
December 1st, 2008 at 10:00am ET, 3:00pm UK time and 5:00pmIsrael time. On
the call, CEO Asaf Bartfeld, CFO Barak Mashraki and Head of Investor
Relations, Dalia Black, will review and discuss the results, and will be
available to answer your questions.

To participate, please call one of the following teleconferencing
numbers: US: 1-866-345-5855, UK: 0-800-404-8418 and Israel: 03-918-0610.

About The Delek Group

The Delek Group is one of the leading and most prominent and dynamic
investment groups in Israel. The Delek Group is diversified into the
following three major subsidiaries:

Delek Petroleum, with its two subsidiaries: Delek Israel, a gasoline and
lubricants distributor in Israel, and Delek USA, which operates gas stations
and convenience stores and an oil refinery in Southern United States.

Delek Investments and Properties, a holding company with subsidiaries in
the energy, infrastructure, automotive, finance and media sectors.

Delek Real Estate, through its subsidiaries Dankner and Delek Belron
Investments, owns and manages prime global real-estate investments.

    Contact
    Dalia Black
    Head of Investor Relations
    Delek Group
    Tel: +972-9-863-8444
    Email: black_d@delek.co.il

    Kenny Green / Ehud Helft
    International Investor Relations
    GK Investor Relations
    Tel: (US) +1-646-201-9246
    E-mail: info@gkir.com

CarDomain Announces Winners of Best of SEMA 2008

SEATTLE, Nov. 28 /PRNewswire/ — CarDomain Network today announced the
winners of the CarDomain Best of SEMA 2008 Awards, naming the top vehicles in
10 categories that were displayed at the Specialty Equipment Manufacturers
Association show in Las Vegas earlier this month.

The winners were based on votes cast by visitors to the CarDomain Web site
in the past two weeks. Winning vehicles can be viewed at
http://blog.cardomain.com/blog/2008/11/best-of-sema-20.html.

“The CarDomain Best of SEMA 2008 Award winners truly represent the best of
the best in the world of specialty vehicles,” said Rob Einaudi,
Editor-in-Chief of CarDomain. “They are selected by the people who matter
most — the passionate auto enthusiasts who visit our site every day to share
their love for the automobile.”

The 2008 CarDomain Best of SEMA Award winners were:

Muscle Car — Dale Jr. Edition Camaro, featuring a 6.2L E85-capable V8,
Shorty headers, and Hurst short-throw shifter. Factory ground effects, rear
diffuser, rear lip, and interior and exterior JR Motorsports trim round out
the package.

Racing and Motorsports — Viscardi Mustang, featuring twin Turbonetics Y2K
91 mm’s plumbed to an all-aluminum 598 cu in. Ford big block capable of more
than 3000 hp.

Exotics — Lamborghini Reventon, which comes with a V12 engine generating
about 650 hp (485 kW) and ceiling speed of more than 211mph (340 km/h).

Off-Road — ICON FJ43, featuring Recaro Carbon Sport seats, a 450HP LS
series alloy V8, 4L65E auto, Atlas II transfer case, Dynatrac axles with four
wheel power assisted vented and slotted disc brakes.

Trucks – Baldwin Motorsports F-150, mirroring the same technology and
performance found in trucks that win the legendary SCORE Baja 1000, this Ford
F-150 four seater offers a Roush Racing 427 cubic inch V-8 that propels the
vehicle at 140 miles an hour on dirt, with nearly three feet of wheel travel,
offering its occupants a smooth ride.

Luxury — ASI’s Bentley Continental GT Speed, featuring a high-efficiency
exhaust system, intensive ECU tuning, enlarged turbocharger turbines, and an
enhanced engine coolant system, the TETSU GTR achieves a breathtaking and
unprecedented 800 horsepower.

Restoration — Old School Skyline, a restored 1971 GT-R.

Sport Compact — Vivid Racing EVO X, featuring BASF GT3RS Green paint,
including an upgrade of new Rotora front 6piston 355mm and rear 4piston 328mm
brakes in matching color with Rotora logo. The AME wheels were pin striped
with a GT3RS Green lip on them. The vehicle also features an updated engine
bay with a matching cover, powder coated Agency Power intercooler pipe and
intake, and a set of Status custom black leather and green stitching seats
going in as well.

Hot Rods – Toyo ‘31 Studebaker, featuring a chopped roof, entirely new
frame, custom fabricated hood to cover a Zoops outfitted Chevy 350 with three
deuces (two-barrel carburetors) and a retro-style fabricated sheet metal
interior. A custom air bag suspension provides the “slammed” look while the
car rides on the Proxes 4 tires and Centerline Smoothie wheels.

Green — X Prize Fox Body Mustang, which puts down over 400 horsepower and
claims to get over 80MPG.

    SEMA stats:

    -- Approximately 125,000 people visited the show

    -- 2,500 cars and trucks present

    -- 2 million square feet of convention space

About CarDomain (www.cardomain.com)

CarDomain recently passed the 600,000 mark in member-posted vehicle
profiles and attracts more than 3.5 million monthly unique visitors. Among
online automotive resources, CarDomain is within the top four sites for
percentage of visitors somewhat likely or very likely to buy a vehicle in the
next six months, according to the January 2008, comScore Plan Metrix report.

CarDomain operates the Web’s largest automotive social network. The
CarDomain community offers auto enthusiasts a place to show off their cars,
tools to exchange ideas and information, and member generated suggestions
about purchasing, modifying, enhancing and restoring vehicles. At CarDomain,
marketers can advertise to car buyers within a community of authentic car
enthusiasts.

Coachmen To Repurchase Shares

MIDDLEBURY, Ind., Nov. 28 /PRNewswire-FirstCall/ — Coachmen Industries,
Inc. (NYSE: COA) today announced that it would resume its common stock
repurchase plan that had been previously authorized by its Board of Directors.

The company said it will fund the program with available cash and will
repurchase shares in the open market or in private transactions, based on
market conditions and other factors. The plan will be effective through March
31, 2009.

“These are historically challenging times for the global economy, but our
Housing business continues to perform well. After the completion of the
anticipated sale of the RV business unit, we believe the significant
difference between Company’s book value and market value makes the stock a
very good investment. This latest action demonstrates the belief of
management and the Board in the continued success of the Company and the long
term value it will bring to investors,” said CEO Richard M. Lavers.

Coachmen Industries, Inc. is one of America’s leading manufacturers of
recreational vehicles, systems-built homes and commercial buildings, with
prominent subsidiaries in each industry. The Company’s well-known RV brand
names include COACHMEN(R), GEORGIE BOY(TM), SPORTSCOACH(R), ADRENALINE(TM) and
VIKING(R). Through ALL AMERICAN HOMES(R) and MOD-U-KRAF(R), the Company is
one of the nation’s largest producers of systems-built homes, and also a
major builder of commercial and multi-family residential structures with its
ALL AMERICAN BUILDING SYSTEMS(TM) products. Coachmen Industries, Inc. is a
publicly held company with stock listed on the New York Stock Exchange (NYSE)
under the ticker COA.

This release contains forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995. Investors are cautioned not
to place undue reliance on forward-looking statements, which are inherently
uncertain. Actual results may differ materially from that projected or
suggested due to certain risks and uncertainties including, but not limited
to, the potential fluctuations in the Company’s operating results, increased
interest rates, the availability for floorplan financing for the Company’s
recreational vehicle dealers and corresponding availability of cash to
Company, uncertainties and timing with respect to sales resulting from
recovery efforts in the Gulf Coast, uncertainties regarding the impact on
sales of the disclosed restructuring steps in both the recreational vehicle
and housing and building segments, the ability of the company to generate
taxable income in future years to utilize deferred tax assets and net
operating loss carry-forwards available for use, the impact of performance on
the valuation of intangible assets, the availability and the price of
gasoline, price volatility of raw materials used in production, the Company’s
dependence on chassis and other suppliers, the availability and cost of real
estate for residential housing, the supply of existing homes within the
company’s markets, the impact of home values on housing demand, the impact of
sub-prime lending on the availability of credit for the broader housing
market, the ability of the Company to perform in new market segments where it
has limited experience, adverse weather conditions affecting home deliveries,
competition, government regulations, legislation governing the relationships
of the Company with its recreational vehicle dealers, dependence on
significant customers within certain product types, consolidation of
distribution channels in the recreational vehicle industry, consumer
confidence, uncertainties of matters in litigation, current litigation
relating to and Congressional inquiry surrounding the Company’s use of
components containing formaldehyde in its products, further developments in
the war on terrorism and related international crises, oil supplies, and other
risks identified in the Company’s SEC filings.

IMPORTANT ADDITIONAL INFORMATION HAS BEEN FILED WITH THE SEC

Coachmen Industries, Inc. plans to file with the United States Securities
and Exchange Commission (“SEC”) and mail to shareholders a proxy statement in
connection with the proposed transaction. The proxy statement will contain
important information about Coachmen and the sale of its RV business to Forest
River. The Company urges its shareholders to read the proxy statement
carefully when it is available.

Shareholders will be able to obtain free copies of the proxy statement
(when it is available) and other documents filed with the SEC by Coachmen
through the website maintained by the SEC at www.sec.gov. In addition,
shareholders will be able to obtain free copies of the proxy statement (when
it is available) from Coachmen by contacting Thomas P. Gehl Corporate
Secretary and Director of Investor Relations at tgehl@coachmen.com.

Coachmen and its directors and executive officers may be deemed to be
participants in the solicitation of proxies in respect of the proposed
transaction. Information regarding Coachmen’s directors and executive officers
is contained in Coachmen’s Annual Report on Form 10-K for the year ended
December 31, 2007 and its proxy statement dated March 27, 2008, which are
filed with the SEC. As of November 20, 2008, Coachmen’s directors and
executive officers beneficially owned approximately 627,689 shares, or
approximately 3.9 percent, of Coachmen’s common shares. A more complete
description of the interests of Coachmen’s officers and directors will be
available in the proxy statement.

Fleetwood Announces Revised Terms for the Exchange Offer for Its 5% Debentures

RIVERSIDE, Calif., Nov. 28 /PRNewswire-FirstCall/ — Fleetwood
Enterprises, Inc. (NYSE: FLE) announced today that it has revised the terms of
its registered exchange offer, originally announced on October 30, 2008, for
its existing $100 million principal amount of 5% convertible senior
subordinated debentures. Under the revised terms, which are designed to
simplify the tender process, there will no longer be an escalation in the
consideration offered based on the level of participation, but instead holders
who opt to participate in the exchange offer will now receive the following
fixed consideration for each $1,000 in principal amount of debentures
tendered:

— $1,030 in new senior secured notes, which are (1) senior obligations
of Fleetwood, (2) secured by a first priority lien on approximately $20
million of unencumbered real estate assets of certain Fleetwood subsidiaries
and a junior lien on approximately $58 million of certain of Fleetwood’s
subsidiaries’ real properties that are pledged to secure its credit facility,
(3) guaranteed on a subordinated basis to Fleetwood’s credit facility by
certain Fleetwood subsidiaries, and (4) due three years from the date of
issuance;

— with a coupon rate of 14 percent consisting of:

o 5 percent interest payable in cash, plus

o 9 percent pay-in-kind interest (PIK interest); plus

— 140 shares of Fleetwood common stock (assuming that the average price
of the common stock during the relevant 20 trading day period is at or below
$0.75 per share); together with

— the payment of accrued and unpaid interest for any debentures accepted
in the exchange offer.

In connection with these revised terms, Fleetwood is filing an amendment
to the registration statement on Form S-4 previously filed on October 30,
2008. The exchange offer is being extended and is now scheduled to expire at
5:00 p.m., New York City time, on December 11, 2008. To date, there have not
been any debentures tendered into this exchange offer. Concurrently, Fleetwood
is filing an amendment to its registration statement on Form S-4 previously
filed on November 6, 2008, with respect to its repurchase obligation on
December 15, 2008. If holders tender their debentures pursuant to the
Company’s repurchase obligation, they will receive only shares of common
stock.

Important Information Regarding Exchange Offers

In connection with these two offers, registration statements on Form S-4,
tender offer statements on Schedule TO, and related documents and amendments
thereto relating to the offers are being filed by Fleetwood with the SEC. The
senior secured notes and common stock may not be exchanged or sold nor may
offers to exchange or buy be accepted prior to the time the applicable
registration statement becomes effective. This news release shall not
constitute an offer to exchange or sell, or the solicitation of an offer to
exchange or buy, nor shall there be any exchange or sale of such securities in
any state in which such offer, exchange, solicitation or sale would be
unlawful prior to registration or qualification under the securities laws of
any such state. Holders of the debentures are strongly advised to read the
registration statements, tender offer statements and other related documents
because these documents contain important information. Such holders may obtain
copies of the exchange offer materials from MacKenzie Partners, the
information agent for the offers, at 800-322-2885. These documents can also be
obtained at no charge from Fleetwood or at the SEC’s website,
http://www.sec.gov. Fleetwood is not making any recommendation to holders of
outstanding debentures as to whether they should tender their securities
pursuant to either offer.

About Fleetwood

Fleetwood Enterprises, Inc., through its subsidiaries, 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, 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, including the consideration to be exchanged in
the exchange offers and the scheduled expiration dates of the exchange offers,
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 significant demands on our
liquidity while current economic and credit conditions are severely affecting
our operations, including the potential repurchase of $100 million 5%
debentures in December 2008 if we do not have sufficient shares of common
stock to meet a repurchase obligation; the lack of assurance that we will
regain sustainable profitability in the foreseeable future; our potential
inability to decrease our operating losses and negative cash flow; the effect
of ongoing weakness in both the manufactured housing and recreational vehicle
markets, especially the recreational vehicle market which has deteriorated
sharply in recent months; the volatility of our stock price and the risk of
potential delisting from the NYSE; the effect of a decline in home equity
values, volatile fuel prices and interest rates, global tensions, employment
trends, stock market performance, credit crisis, availability of financing
generally, and other factors that can and have had a negative impact on
consumer confidence, and which may continue to reduce demand for our products,
particularly recreational vehicles; the availability and cost of wholesale and
retail financing for both manufactured housing and recreational vehicles; our
ability to comply with financial tests and covenants on existing and future
debt obligations; our ability to obtain, on reasonable terms if at all, the
financing we will need in the future to execute our business strategies;
potential dilution associated with future equity or equity-linked financings
we may undertake to raise additional capital and the risk that the equity
pricing may not be favorable; the cyclical and seasonal nature of both the
manufactured housing and recreational vehicle industries; the increasing costs
of component parts and commodities that we may be unable to recoup in our
product prices; repurchase agreements with floorplan lenders, which we
currently expect could result in increased costs due to the deteriorated
market conditions; 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 and dealers’
desire to reduce inventory levels in the manufactured housing and recreational
vehicle industries; the effect on our sales, margins and market share from
aggressive discounting by competitors; potential increases in the frequency
and size of product liability, wrongful death, class action, and other legal
actions; and the highly competitive nature of our industries and changes in
our competitive landscape.

    Filed by Fleetwood Enterprises, Inc. pursuant to
    Rule 425 under the Securities Act of 1933 and
    Rule 13e-4 under the Securities Exchange Act of 1934
    Subject Company: Fleetwood Enterprises, Inc.
    Commission File No. 001-7699

     Contacts:
     Lyle Larkin, Vice President - Treasurer, +1-951-351-3535
     Kathy A. Munson, Director - Investor Relations, +1-951-351-3650

Camping World to Sell Lightweight Environmentally Friendly Teardrop Camper Trailers

CANTON, Ohio, Nov. 27 /PRNewswire/ — Little Guy Teardrop Camper Trailers,
the world’s best selling brand of teardrop camper trailers, recently announced
a retail distribution agreement with Camping World that launches lightweight
teardrop camper trailers into the recreational vehicle (RV) mainstream.
Little Guy Worldwide is headquartered in Canton, Ohio and has a worldwide
dealer network that spans the United States, Canada, Europe, South Africa,
Australia, and the United Arab Emirates.

Teardrop camper trailers were popularized after World War II, and the
proliferation of small, fuel-efficient cars on America’s highways has prompted
a need for lightweight campers that can be pulled by virtually any vehicle
with a hitch. With models available at around 500 pounds and ranging from 4
to 6 feet in width, teardrop camper trailers enable small car owners to get
out and go camping while maintaining many of the benefits of owning a
recreational vehicle.

According to Chris Baum, Executive Vice President and Chief Operating
Officer for Little Guy, “The U.S. may be in a recession, but we just aren’t
seeing it. Sales of our teardrops counter-trend current economic conditions.
Teardrop camper trailers have a minimal impact on the fuel economy of the tow
vehicle.”

John Sirpilla, Camping World President of Retail Operations said, “The
Little Guy product is a natural extension into our expanding base of products
to serve the outdoor enthusiast. We are impressed by the growing number of
outdoor enthusiasts who have found the Little Guy to be the solution to their
camping and travel needs and are excited to serve them in this capacity.”

Little Guy Teardrop Camper Trailers will roll out through the end of the
year at nine Camping World Locations throughout the U.S. Joe Kicos, owner of
Little Guy Worldwide, commented, “Our entry into this retail channel
represents an opportunity for a formerly niche product to gain wider exposure
to the camping public while offering Camping World’s customers a high-quality,
affordable product that is environmentally friendly and which recognizes that
not everyone owns a vehicle capable of towing a larger travel trailer.”

For more information about Little Guy Worldwide, log onto
www.golittleguy.com

J.D. Power and Associates Reports: Mitsubishi Ranks Highest in Sales Satisfaction in South Africa

JOHANNESBURG, South Africa, Nov. 27 /PRNewswire/ — For the first time
since the inception of the study in 2005, Mitsubishi ranks highest among
automotive brands in satisfying new-vehicle buyers with the purchase
experience, according to the J.D. Power and Associates 2008 South Africa Sales
Satisfaction Index (SSI) Study(SM) released today.

(Logo: http://www.newscom.com/cgi-bin/prnh/20050527/LAF028LOGO-a)

Now in its fourth year, the study is a comprehensive measurement of the
new-vehicle sales and delivery process, and includes 32 attributes grouped in
five factors (listed in order of importance): delivery process (27%);
salesperson (23%); negotiated price (18%); paperwork/finance process (17%);
and dealership facility (15%). Importance weights are based on consumer survey
responses, thus reflecting what is most important to South Africa new-vehicle
buyers.

Mitsubishi ranks highest with an SSI score of 887 on a 1,000-point scale.
Mitsubishi receives particularly high ratings in four of five factors:
dealership facility; salesperson; paperwork/finance process; and price
negotiations. Following Mitsubishi in the rankings is Mercedes-Benz with a
score of 871, which performs particularly well in the delivery process factor.
Land Rover, BMW, Chevrolet, Toyota, Honda, Audi, Mazda, Opel, Isuzu and Kia,
respectively, also perform above the industry average.

“Overall SSI has increased to its highest level since the inception of the
study in 2005, with ratings for dealership facility, in particular,
demonstrating considerable improvement,” said Brian Walters, vice president of
J.D. Power and Associates Europe, Middle East and Africa operations. “Even
before customers enter into the purchase process, positive first impressions
of the dealership that stem from location, appearance and comfort of the
facility could lay the foundation for a satisfying experience throughout the
entire sales process. Considering that purchasing a vehicle is one of the most
important decisions a consumer makes, new-vehicle buyers have high
expectations for even the ’softer’ factors of the vehicle buying process.”

The study finds that sales satisfaction levels have a direct impact on
customer advocacy. Among customers who report having an “outstanding” purchase
experience, 82 percent say they would personally recommend their dealer to
others. However, the recommendation rate declines to 56 percent among less
satisfied customers. Similar patterns exist in other markets where J.D. Power
and Associates conducts the Sales Satisfaction Index Study.

“A higher share of brand advocates can be the ‘currency’ of satisfaction
improvement activities,” said Walters. “An increased customer advocacy rate
reflects positively on a brand’s perception and keeps existing customers
closer to the brand. In the long term, this increases the likelihood that
these customers will become brand loyal.”

Since its launch in the United States in 1987, the SSI Study has become a
standard for measuring dealer performance for the sales process used by
virtually every automotive manufacturer around the world. In addition to
South Africa, J.D. Power and Associates conducts retail research in many other
markets, including China, France, Germany, India, Indonesia, Japan, Malaysia,
Philippines, Taiwan, Thailand, the United Kingdom and the United States. Each
year, more than one million new-vehicle buyers around the world receive a J.D.
Power and Associates survey.

J.D. Power and Associates is recognised across the globe as the leading
independent authority on customer-reported quality in the automotive industry.
The company’s primary role is to help automotive manufacturers further improve
their product quality and service levels through a better understanding of
customer opinion. J.D. Power and Associates also provides its topline study
results to consumers for use as a reference point when purchasing a new
vehicle.

The 2008 South Africa Sales Satisfaction Index Study is based on a
representative sample of more than 8,800 new-vehicle owners who purchased
their vehicles between December 2007 and April 2008. The study was funded
entirely by J.D. Power and Associates as part of its global research programs,
in co-operation with the Road Traffic Management Corporation (RTMC), and
includes a section of questions to assist the RTMC and the Department of
Transport (DOT) in measuring the performance of its vehicle and drivers
licensing program.

    Nameplate Ranking by Sales Satisfaction Index Score
    (Based on a 1,000-point scale)
    Mitsubishi            887
    Mercedes-Benz         871
    Land Rover            868
    BMW                   861
    Chevrolet             858
    Toyota                854
    Honda                 850
    Audi                  844
    Mazda                 839
    Opel                  837
    Isuzu                 836
    Kia                   836
    Ford                  833
    Industry Average      833
    Hyundai               829
    Renault               829
    Peugeot               820
    Fiat                  819
    Volkswagen            819
    Nissan                813
    Daihatsu              808
    GWM                   754
    Tata                  741

Included in the study but not ranked due to small sample size are: BAW,
Chana, Geely, GONOW, Jeep, Lexus, Mahindra, MINI, Subaru and Volvo.

About J.D. Power and Associates

Headquartered in Westlake Village, Calif., J.D. Power and Associates is a
global marketing information services company operating in key business
sectors including market research, forecasting, performance improvement,
training and customer satisfaction. The company’s quality and satisfaction
measurements are based on responses from millions of consumers annually. J.D.
Power and Associates is a business unit of The McGraw-Hill Companies.

About The McGraw-Hill Companies

Founded in 1888, The McGraw-Hill Companies (NYSE: MHP) is a leading global
information services provider meeting worldwide needs in the financial
services, education and business information markets through leading brands
such as Standard & Poor’s, McGraw-Hill Education, BusinessWeek and J.D. Power
and Associates. The Corporation has more than 280 offices in 40 countries.
Sales in 2007 were $6.8 billion. Additional information is available at
http://www.mcgraw-hill.com.

     Media Relations Contacts:
     Brian Walters                           Syvetril Perryman
     J.D. Power and Associates               J.D. Power and Associates
     Guildford, Surrey, U.K.                 Westlake Village, Calif., U.S.A.
     UK Phone: +44 1483 207 602              (805) 418-8103
     South Africa Phone: +27 083 379 6464    syvetril.perryman@jdpa.com
     brian.walters@jdpa.com

No advertising or other promotional use can be made of the information in
this release without the express prior written consent of J.D. Power and
Associates. http://www.jdpower.com

North Texas Subaru Dealer Offers $1 Impreza Lease With New Subaru Outback Lease

PLANO, Texas, Nov. 26 /PRNewswire/ — Consumers watching their pennies
will have the ultimate opportunity to snag the perfect gift this weekend when
they can lease a new Subaru Impreza for only US$1 with the lease or purchase
of a 2009 Subaru Outback from Subaru of Dallas or Subaru of Plano. The
amazing “two-for-one” offer is for qualified buyers of the Subaru Outback on
this Friday and Saturday at an advertised price of the sporty AWD car.

(Photo: http://www.newscom.com/cgi-bin/prnh/20081126/LAW522)

“While some dealers can’t extend credit to consumers, we can easily
finance the purchase or lease of any of our fantastic cars,” said Subaru of
Dallas and Subaru of Plano principal David Thomas. “To prove that point,
we’re offering a fantastic ‘two-for-one’ lease on our Subaru Outback and
Impreza. This weekend only, consumers can go from two payments to one and
possibly switch from conventional financing to a lease. This will help people
save a significant amount of money.”

Consumers can buy or lease a new Subaru Outback at an advertised price,
and pay $1 for a two year pre-paid lease on a new Subaru Impreza. Tax, title,
license and lender acquisition fee, are not included. The program will begin
at 6 a.m. on Friday.

The Subaru Outback is a crossover vehicle with a loyal following among
enthusiasts. The Impreza sedan quickly became one of the hottest-selling
Subaru models when it was recently redesigned.

“Subaru leads all other manufacturers who sell vehicles in the U.S. in
percentage of sales increase over the same time last year,” noted Thomas.
“Word has already begun to leak out about our innovative program and we’ve
been bombarded with inquires. With this out-of-the-box program and great
finance rates, we’ll keep Subaru out front.”

About Subaru of Dallas and Subaru of Plano

Subaru of Dallas is the top volume Subaru dealership in Texas and winner
of the coveted “Stellar Award” from Subaru of America. Subaru of Plano is a
joint venture between Subaru of America and regional Subaru dealer, David
Thomas. The dealerships market and distribute Subaru Symmetrical All-Wheel
Drive vehicles, parts and accessories. Additional information is available at
http://www.subaruofplano.com.

Audi A5 Selected by Automobile Magazine as 2009 Design of the Year

HERNDON, Va., Nov. 26 /PRNewswire/ — Audi accepted Automobile Magazine’s
2009 Design of the Year Award for the Audi A5, solidifying its position at the
leading edge of automotive styling.

The recognition for the A5 marks the second consecutive year that Audi has
earned the top design award from one of North America’s leading automotive
publications. The Audi R8 sports car won the magazine’s Design of the Year and
Car of the Year awards for 2008.

Editors praised the restraint, elegance and the “perfect execution” of the
Audi coupe’s design. Seeing the overall design quality of the A5 on the road
cinched the decision for Automobile’s editors. “Audi,” the magazine noted,
“has indeed created a beautiful car.”

“The first point of appreciation comes upon approaching the car,” said
Automobile Magazine Design Editor Robert Cumberford. “The second comes when
the door is opened to one of the best interiors offered today, in any car at
any price. The A5’s elegance, stability, and sheer visual presence make it a
clear winner.”

Automotive design often succeeds best when all of a car’s elements fit
with seamless proportions and careful attention to details. This was the case
with the A5, the first coupe offered by Audi in the U.S. in nearly a
generation.

“The graceful, yet precisely drawn, lines of the A5 epitomize the way a
progressive coupe should look,” said Johan de Nysschen, Audi of America’s
executive vice president. “All of its elements – powerful surfaces, a front
end that speaks to pure performance, lighting that blends style with function
among many other features – unite Audi style and dynamic performance.”

Consumers are recognizing the A5’s merits, too. October sales of the coupe
in the U.S. set a record for the third consecutive month. The A5, which first
arrived in U.S. showrooms late last year, comes with the powerful and highly
efficient 3.2-liter FSI engine. It produces 265 hp and has a 0-60 mph time of
6.1 seconds.

About Audi of America

Audi of America, Inc. and its 270 dealers offer a full line of
German-engineered luxury vehicles. The Audi line up is one of the freshest in
the industry with 23 models, including 12 models launched during model years
2008 and 2009. Audi is among the most successful brands globally. Last year
AUDI AG recorded its 12th consecutive record year for sales and profit growth.
Visit www.audiusa.com or www.audiusanews.com for more information regarding
Audi vehicle and business issues.

Four Audi Models Earn Top Safety Marks in 2009 Awards from IIHS

HERNDON, Va., Nov. 26 /PRNewswire/ — Audi’s reputation as a leader in
automotive safety gained added validation with four of its best-selling models
claiming Insurance Institute for Highway Safety Top Safety Pick awards for
2009.

Winning the highly sought safety award were the Audi A3, the all-new Audi
A4, the Audi A6 and the Audi Q7. The award recognizes vehicles that do the
best job of protecting passengers in front, side and rear collisions. All of
the winners also had to have electronic stability control, which IIHS credits
with significantly lowering crash risks.

“Protecting the drivers of our vehicles, and their passengers, is at the
top of Audi’s priority list and we’re delighted to clearly stand above other
European luxury carmakers,” said Johan de Nysschen, executive vice president,
Audi of America. “Safety is woven into the earliest consideration of how our
different models should look and perform. We’re grateful the Insurance
Institute has recognized this singular focus of ours.”

This marks the second consecutive year that four Audi models have earned
this important safety award. The Audi Q7, Audi A6, Audi A4, and Audi A3 all
received the IIHS Top Safety Pick Award in 2008. The Audi A6 and A4 received
the IIHS Top Safety Pick Award in 2007. IIHS launched the safety awards in
2006.

The four awards collected by Audi models exceeded the number of awards
given to BMW, Mercedes-Benz or Lexus models. Additionally, some Audi models,
including the Audi R8 sports car, the Audi A5 coupe, and the Audi A8 luxury
sedan did not fall within the IIHS test program at this time.

IIHS evaluates each vehicle for front crashworthiness following a 40 mph
offset collision. Calculations are made on the level of intrusion the crash
causes in the occupant compartment and the impact recorded by crash test
dummies. Side impact evaluations involve crashing a barrier into the side of a
vehicle at 31 mph. Rear crash protection involves measuring the geometry of
head restraints. Vehicles with good or acceptable measurements are then struck
in the rear at 20 mph.

For more information on the Insurance Institute for Highway Safety and the
2009 Top Safety Pick awards, please go to http://www.iihs.org .

About Audi of America

Audi of America, Inc. and its 270 dealers offer a full line of
German-engineered luxury vehicles. The Audi line up is one of the freshest in
the industry with 23 models, including 12 models launched during model years
2008 and 2009. Audi is among the most successful brands globally. Last year
AUDI AG recorded its 12th consecutive record year for sales and profit growth.
Visit http://www.audiusa.com or http://www.audiusanews.com for more
information regarding Audi vehicle and business issues.

Metaldyne Announces Acceptance of Tendered Bonds

PLYMOUTH, Mich., Nov. 26 /PRNewswire/ — Metaldyne Corporation announced
it has accepted for payment, and paid for, all of its outstanding 10% Senior
Notes due 2013 (“2013 Bonds”) and 11% Senior Subordinated Notes due 2012
(“2012 Bonds” and together with the 2013 Bonds, the “Bonds”) that were validly
tendered at or prior to 12:00 midnight, New York City time, on November 18,
2008 (the “Early Participation Deadline”) pursuant to the previously announced
tender offer for the Bonds.

According to The Bank of New York Mellon Trust Company, N.A., the
depositary for the tender offer, as of the Early Participation Deadline, a
total of $137,614,000 in aggregate principal amount of 2013 Bonds,
representing approximately 96.76% of the outstanding 2013 Bonds, and
$215,906,000 in aggregate principal amount of 2012 Bonds, representing
approximately 86.36% of the outstanding 2012 Bonds, were validly tendered
prior to the Early Participation Deadline. This represents approximately
90.13% of the combined aggregate principal amount of the 2013 Bonds and 2012
Bonds. Metaldyne has waived the condition that 95% of the aggregate principal
amount of the Bonds must be tendered.

As previously announced, Metaldyne also received the requisite consents
from holders of more than two-thirds of the aggregate principal amount of each
of the 2013 Bonds and 2012 Bonds with respect to the proposed amendments to
the relevant indentures. Consequently, Metaldyne and the trustees have
executed supplemental indentures relating to the Bonds that remain
outstanding, which (i) eliminate substantially all of the restrictive
covenants and certain events of default in the relevant indentures pursuant to
which the Bonds were issued and (ii) release all of the collateral securing
the Bonds. The supplemental indentures are binding on all non-tendered Bonds.

Metaldyne also announced that the other conditions to the tender offer
have been satisfied or waived. In particular, Metaldyne has received the
required funds from RHJ International, Asahi Tec’s largest shareholder, on
behalf of Metaldyne’s parent company, Asahi Tec, and from certain of its
customers.

As previously announced, the early purchase prices for each $1,000
principal amount of Bonds validly tendered at or prior to the Early
Participation Deadline was $270.18 in the case of the 2013 Bonds and $106.30
in the case of the 2012 Bonds. Each early purchase price included payment in
respect of all accrued and unpaid interest from the last payment date in
respect of the applicable Bonds to and including the date of payment,
including, in the case of the 2013 Bonds, interest payable in respect of the
November 1, 2008 interest payment date. The aggregate consideration for Bonds
accepted for payment as of the Early Participation Deadline was approximately
$60.1 million.

The tender offer will continue to remain open until 12:00 midnight, New
York City time, on November 26, 2008. Bonds that are validly tendered after
the Early Participation Deadline and prior to such expiration time and
accepted for payment will receive the final purchase prices, which are $265.18
per $1,000 principal amount in the case of the 2013 Bonds and $101.30 per
$1,000 principal amount in the case of the 2012 Bonds.

Bonds that are validly tendered and accepted will be cancelled and will no
longer be deemed to be outstanding. Accordingly, acceptances to the proposed
plan of reorganization solicited by Metaldyne and delivered by tendering
record date holders will be disregarded.

Further details regarding the tender offer, consent solicitation and
acceptance solicitation are available on Metaldyne’s current report on the
equivalent of Form 8-K dated October 29, 2008, which is posted on Metaldyne’s
website www.metaldyne.com. Requests for tender offer documents may be
directed to The BMC Group, Inc., the Information and Voting Agent, at (310)
321-5541 or (888) 900-0100 (toll free).

THIS ANNOUNCEMENT IS NOT AN OFFER TO PURCHASE, A SOLICITATION OF AN OFFER
TO PURCHASE OR A SOLICITATION OF CONSENTS. THE TENDER OFFER FOR THE 2012 BONDS
AND 2013 BONDS AND THE RELATED CONSENT SOLICITATION AND ACCEPTANCE
SOLICITATION ARE BEING MADE SOLELY PURSUANT TO AN OFFER TO PURCHASE AND A
RELATED LETTER OF TRANSMITTAL.

About Metaldyne

Metaldyne is a wholly owned subsidiary of Asahi Tec, a Shizuoka, Japan-
based chassis and powertrain component supplier in the passenger car/light
truck and medium/heavy truck segments. Asahi Tec is listed on the Tokyo Stock
Exchange.

Metaldyne is a leading global designer and supplier of metal based
components, assemblies and modules for transportation related powertrain and
chassis applications including engine, transmission/transfer case, wheel end
and suspension, axle and driveline, and noise and vibration control products
to the motor vehicle industry.

Headquartered in Plymouth, Mich., Metaldyne has annual revenues of
approximately $1.8 billion. Metaldyne employs more than 5,200 employees at 33
facilities in 14 countries. For more information go to www.metaldyne.com.

Forward Looking Statement

This press release contains statements that are not statements of
historical fact, but instead are forward-looking statements, as that term is
defined by the federal securities laws. We caution readers not to place undue
reliance on these forward-looking statements, which reflect management’s
expectations, estimates and assumptions based on information available as of
the date hereof. Important factors that could cause actual results to vary
materially from those expressed or implied by the forward-looking statements
are set forth in our Annual Report on the Equivalent of Form 10-K for the
fiscal year ended March 31, 2008 and our subsequent Quarterly Reports, and
include: our high degree of leverage; substantial restrictions in our credit
facilities and other debt; declining financial condition of our customers;
risks associated with the condition of our suppliers and subsequent
availability of product; adequacy of our liquidity to meet our obligations and
grow our business; seasonal fluctuations in our business and impact on working
capital; our industry’s cyclicality and dependence on general economic
conditions; inability to achieve profitability given our high degree of
leverage and resulting interest expense; affordability of raw materials and
components; inability to quickly replace any diminished or lost business due
to the length of the sales process; risks related to termination for
convenience provisions in certain of our customers’ purchase orders and
unanticipated cancellation of programs by our customers; risks associated with
our parent company being controlled by a Japanese principal stockholder and
therefore being subject to the regulatory environment for publicly traded
Japanese companies; costs could potentially exceed estimates used in pricing
our products; our employee benefit obligations may negatively impact future
liquidity; risks related to international sales; inability to protect our
intellectual property rights; environmental compliance obligations and
liabilities; inability to meet obligations for any product liability and
warranty claims; unanticipated labor stoppages at our facilities or those of
our customers; general economic conditions in the market sector in which we
operate, including continued volume deterioration of our top three customers,
changes in interest rates or foreign currency exchanges; impact of the global
financial crisis on our business and liquidity; and potential consolidation,
loss or insolvency of our customers. We do not intend or assume any
obligation to update any of these forward-looking statements.