SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549
                                    Form 10-K

  (X)[X] ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
                              EXCHANGE ACT OF 1934
                   For the fiscal year ended December 31, 19942002
                                       OR
( )[ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
                              EXCHANGE ACT OF 1934

        For the transition period from __________ to __________

                          Commission File Number 1-6003

                           FEDERAL SIGNAL CORPORATION
           (Exact name of the Registrant as specified in its charter)

             DELAWARE                               36-1063330
  (State or other jurisdiction of                  (I.R.S. Employer
  incorporation or organization)                   Identification No.)

      1415 WEST 22ND STREET, OAK BROOK, ILLINOIS                 60521West 22nd Street,
        Oak Brook, Illinois                           60523
(Address of principal executive offices)            (Zip Code)

The Registrant's telephone number, including area code (708)(630) 954-2000

Securities registered pursuant to Section 12(b) of the Act:

                                                   Name of each exchange onEach Exchange
     Title of each class                        which registered      
 
COMMON STOCK, PAR VALUE $1.00 PER SHARE,
 WITH PREFERRED SHARE PURCHASE RIGHTS             NEW YORK STOCK EXCHANGEEach Class                            on Which Registered

Common  Stock,  par value$1.00 per share,         New York Stock Exchange
with preferred share purchase rights

Securities registered pursuant to Section 12(g) of the Act:  None
                                 (Title of class)

Indicate by check mark whether the Registrant (1) has filed all reports required
to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
the  preceding 12 months (or for such  shorter  period that the  Registrant  was
required  to file  such  reports),  and  (2) has  been  subject  to such  filing
requirements for the past 90 days.
Yes  [X]X  No [ ]___

Indicate by check mark if disclosure of delinquent  filers  pursuant to Item 405
of Regulation S-K (Section 229.405(ss.229.405 of this chapter) is not contained herein, and will
not be contained, to the best of the Registrant's knowledge, in definitive proxy
or  information  statements  incorporated  by reference in Part III of this Form
10-K or any amendment to this Form 10-K. [X]

State the aggregate  market value of voting stock held by  nonaffiliates  of the
Registrant as of March 1, 1995.June 30, 2002.
             Common stock, $1.00 par value -- $817,151,270$889,617,080

Indicate the number of shares outstanding of each of the Registrant's classes of
common stock, as of March 1, 1995.2003.
           Common stock, $1.00 par value -- 45,291,023- 47,967,626 shares

                  DOCUMENTS INCORPORATED BY REFERENCEDocuments  Incorporated  by  Reference

Portions of the annual reportAnnual Report  to  shareholdersShareholders  for the year ended December 31,
1994,2002 are  incorporated  by  reference  into Parts I and& II.  Portions of the proxy
statement for the Annual  Meeting of  Shareholders  to be held on April 19, 1995,17, 2003
are incorporated by reference intoin Part III.




                                     PART I

Item 1.    Business.

    Federal  Signal  Corporation,  founded  in  1901,  was  reincorporated  as a
Delaware  Corporation  in 1969.  The  company is a  manufacturer  and  worldwide
supplier of safety,  signaling  and  communications  equipment,  hazardous  area
lighting, fire trucks and emergencyrescue vehicles,  vehicle-mounted aerial access platforms, street
sweeping and vacuum  loader  vehicles,  refuse  collection  truck  bodies,  high
pressure water blasting systems,  parking revenue and catch basin cleaning vehicles, parkingaccess control  equipment,
custom on-premise signage,carbide and superhard tipped cutting tools, precision metal stamping punches and
related die components.components,  plastic injection mold components and custom on-premise
signage.

    Products   produced  and  services   rendered  by  the  Registrant  and  its
subsidiaries  (referred  to  collectively  as the  "Registrant"  herein,  unless
context  otherwise  indicates)  are divided  into groups
(business segments) as follows:four major  operating  groups:
Safety Products,  (previously knownTool, Environmental Products and Fire Rescue. A smaller group,
Sign,  reported  as  Signal), Sign, Tooldiscontinued   operations  in  the  Registrant's  financial
statements,  is currently  being offered for sale.  Business units are organized
under  each  segment  because  they  share  certain  characteristics,   such  as
technology,  marketing, and Vehicle.  This classification of
productsproduct application that create long-term synergies.
The Financial Review and services is based upon Registrant's historical
divisional structure established by managementNote M - Segment  Information  included in the Notes to
Consolidated Financial Statements contained in the Annual Report to Shareholders
for the purposes of
internal control, marketing and accounting.year ended December 31, 2002 are incorporated herein by reference.

    Developments,   including   acquisitions  and  divestitures  of  businesses,
considered  significant to the  companyRegistrant or individual  segments are described
under the following discussions of the applicable groups.

Environmental Products Group

    The Financial Review sections, "Consolidated ResultsEnvironmental  Products Group  manufactures and markets worldwide a full
range of Operations," "Group Operations"street and "Financial Positionparking lot sweeping, industrial vacuuming,  municipal catch
basin/sewer cleaning vehicles,  high-performance  waterblasting  equipment,  and
Cash
Flow,"refuse collection truck bodies.  Products are also manufactured for the emerging
markets of  hydro-excavation,  glycol recovery and Note N - Segment Information containedsurface  cleaning.  The group
competes  in these  markets  under  major  brand  names of Elgin,  Ravo,  Athey,
Guzzler,  Jetstream,  Wittke  and  Leach.  Most  sales are made to  governmental
customers including municipalities, private contractors and industrial plants.

    Elgin  is  the  leading  U.S.  brand  of  street   sweepers   available  for
municipalities   and   contractors.   Utilizing  three  basic  cleaning  methods
(mechanical sweeping, vacuuming and recirculating air), Elgin brand products are
primarily designed for large-scale cleaning of curbed streets,  parking lots and
other paved  surfaces.  The group  acquired Five Star  Manufacturing  in January
1998, a manufacturer of a single-engine  mechanical  sweeper designed for and by
contractors.  This  acquisition  enhanced  the  group's  share  in  the  annual
reportprivate
contractor  market. In March 2001, the group acquired all of the assets of Athey
Products Corporation from bankruptcy proceedings. Athey was a primary competitor
to shareholdersElgin's mechanical sweepers.  Subsequent to the purchase,  the group sold, or
otherwise  recovered for cash, a substantial portion of the assets of Athey. All
sweepers are currently  marketed under the Elgin brand name.  Manufacture of all
Elgin  brand  sweepers  is  at  the  Elgin,  Illinois  facility.  Elgin's  parts
distribution center is also located in Elgin, Illinois.

    RAVO,  headquartered  in the  Netherlands,  is a market leader in Europe for
high-quality  compact  self-propelled  sweepers.  RAVO  sweepers,  which utilize
vacuum  technology  for  pick-up,  range in size from the  compact 3 Series (2.3
cubic meters) to the popular 5 series (4.3 cubic meters). RAVO products are sold
worldwide and have significant  share throughout  Europe,  Asia, the Middle East
and Latin America. The products are primarily sold through a dealer network.

    Vactor,  located in  Streator,  Illinois,  is the  leading  manufacturer  of
municipal  combination catch basin/sewer cleaning vacuum trucks. The acquisition
of Vactor provided a significant  expansion of municipal  equipment and enhanced
the domestic and international dealer networks of both Elgin and Vactor. Guzzler
is a leader in  industrial  vacuum  loaders  that clean up  industrial  waste or
recover and recycle  valuable raw  materials.  Products are designed to vacuum a
full  spectrum  of  materials  - from  solids and dry bulk  powders to  liquids,
slurries  and thick  sludge.  In late 2000,  the  Environmental  Products  Group
consolidated   production  of  its  Guzzler   industrial  vacuum  products  from
Birmingham, Alabama into its Streator, Illinois manufacturing facilities to take
advantage of manufacturing efficiencies and technology synergies.

    Jetstream  of  Houston,  ("Jetstream"),   acquired  in  August  1998,  is  a
Houston-based manufacturer of high pressure waterblast equipment and accessories
for commercial and industrial cleaning and maintenance operations with pressures
from 6,000 psi to 40,000  psi.  This  acquisition  provided  significant  growth
opportunities  in existing  Jetstream  markets as well as strong  customer  base
synergies for cross-selling to the industrial vacuum loader (Guzzler) contractor
customers.

    In March 2000, the group acquired the Vaxjet  patented  closed-loop  surface
cleaner.  This product  utilizes  waterblast  technology to remove oil, dirt and
other  accumulations  from  various  surfaces  while  vacuuming,  filtering  and
recycling the wash water. This patented technology  incorporates  several of the
Environmental  Products Group's existing  technologies  including  high-pressure
water and vacuum  technology.  The market is still  emerging  and  appears to be
regulation driven, but could be significant as regulations are enforced.  Vaxjet
products are manufactured in the group's Streator, Illinois facilities.

    In  September of 2002 the group  acquired  Leach  Company of Oshkosh,  WI, a
leading  manufacturer  of rear loading  refuse  collection  bodies.  Since first
revolutionizing  the industry in 1959, Leach engineering has earned a reputation
for developing new products, features and enhancements. Their market strength is
primarily in the government and municipal  markets.  In addition,  Leach markets
via a  similar  dealer  channel  as Elgin  and  Vactor  and  therefore  presents
significant  opportunities to expand and strengthen the worldwide  Environmental
Products Group dealer network.

    Wittke, a market focused manufacturer of dynamic truck mounted equipment and
parts located in Medicine Hat, Alberta,  Canada was acquired in October of 2002,
complimenting the Leach  acquisition.  Wittke brand products include front load,
side load and  automated  side load refuse truck  bodies.  Wittke sold direct to
customers at the time of the acquisition,  is particularly strong in the private
contractors   and  large  waste  hauling  company  market   segments.   A  parts
manufacturing  facility in Kelowna,  B.C.,  Canada,  was acquired along with the
main manufacturing plant in Medicine Hat.

    All of the  Environmental  Products Group  companies  also have  significant
manufacturing,  marketing and sales efforts in accessories and replacement parts
for their products.

    Some products and components  thereof are not  manufactured by the group but
are purchased for incorporation with products of the group's manufacture.

    The group competes with several U.S. and non-U.S. manufacturers.  Due to the
diversity of products  offered,  no meaningful  estimate of either the number of
competitors  or the group's  relative  position  within the global market can be
made,  although  the group does  believe  it is a major  supplier  within  these
product lines.

    At December 31, 2002, Environmental Products Group backlog was $84.1 million
compared to $68.6  million at December 31, 2001. A  substantial  majority of the
orders in the backlog at December 31, 2002 are reasonably  expected to be filled
within the current fiscal year.

Fire Rescue Group

    The Fire Rescue Group manufactures fire/emergency apparatus, rescue vehicles
and aerial  access  platforms  under the  following  brand names:  Emergency One
(E-One), Bronto Skylift, Saulsbury, Superior and Plastisol. The group's products
are manufactured in its facilities located in Ocala, Florida;  Preble, New York;
Red Deer,  Alberta;  Tampere and Pori,  Finland;  and  Stellendam  and  Wanroij,
Netherlands.

    E-One is a leading brand of fire rescue vehicles including pumpers, tankers,
aerial  ladder  trucks,  custom  chassis,  and airport  rescue and fire fighting
vehicles  (each of aluminum  construction  for  rust-free  operation  and energy
efficiency).  E-One  products are marketed and sold  throughout the U.S. and the
world.  A full  range of  Superior  brand  truck  bodies  are  manufactured  and
distributed  primarily  for the  year endedCanadian  market  and U.S.  wildlands  markets.
Superior is the leading brand of fire/emergency apparatus in Canada.

    Headquartered  in  Tampere,  Finland,  Bronto  manufactures  vehicle-mounted
aerial access  platforms.  Bronto is the leading  manufacturer of such platforms
for fire rescue  markets in the world and a leading  manufacturer  of heavy-duty
industrial platforms.

    In January 1998, the Registrant acquired Saulsbury Fire Equipment Corp., the
leading  manufacturer of stainless  steel-bodied fire trucks and rescue vehicles
in the United States. The Saulsbury brand of steel-bodied  products  complements
the E-One brand of aluminum-bodied  fire apparatus and custom fire chassis.  The
acquisition of Saulsbury Fire provided the group with additional distribution, a
service  center in the  northeast  United  States and  additional  manufacturing
capacity for aluminum-bodied trucks in the U.S.

    In October 2001,  the Registrant  acquired a majority  interest in Plastisol
Holdings B.V., located in the Netherlands.  Plastisol is a small manufacturer of
cabs and bodies for fire apparatus using glass-fiber reinforced polyester.

    All  of  the  Fire  Rescue  Group   businesses  also  sell  accessories  and
replacement parts for their products.

    Some products and components  thereof are not  manufactured by the group but
are purchased for incorporation with products of the group's manufacture.

     The  majority of Fire Rescue  Group sales are made  primarily  to municipal
customers,  volunteer fire departments and government customers both in U.S. and
non-U.S. markets.

     The group competes with several U.S. and non-U.S.  manufacturers and due to
the diversity of products offered,  no meaningful  estimate of either the number
of competitors or the group's relative  position within the global market can be
made,  although  the group does  believe  it is a major  supplier  within  these
product  lines.  The  group  competes  with  numerous  non-U.S.   manufacturers,
principally in non-U.S. markets.

    At December 31, 19942002, Fire Rescue Group backlog was $282.2 million  compared
to $241.2 million at December 31, 2001. A substantial  majority of the orders in
the backlog at December 31, 2002 are incorporated herein by reference.reasonably expected to be filled within the
current fiscal year.

Safety Products Group

    Significant  subsidiaries or operations of the Safety Products Group (previously known asinclude
the Signal Group)Products Division, Aplicaciones Tecnologicas VAMA S.A. (VAMA), Victor
Industries Ltd.  (Victor),  Pauluhn  Electric Mfg. Co.,  Justrite  Manufacturing
Company (Justrite),  and Federal APD. Virtually all of these businesses have the
leading position in their respective domestic markets. The group also includes a
number of other business units, most of which have been acquired within the past
five years and which are described later below.

    The group's products  manufactured by Registrantprincipally consist of: (1)emergency vehicular signaling,
industrial  signaling and lighting,  outdoor warning  systems,  hazardous liquid
containment products and parking revenue and control systems.

    Emergency  vehicular  signaling  includes a variety  of visual  and  audible
warning,  signaling and communications devices sold to police, fire, medical and
other  emergency  agencies and  departments,  utilities and  municipal  services
departments,  vehicle towing and oversized  trucking  services  firms.  Products
primarily include vehicle warning lights, sirens and auxiliary lights.

    Industrial  signaling and lighting  includes a variety of visual and audible
warning,  signaling  and  communications  devices  used  by  private
industry, federal, state and local governments, building
contractors, police, fire and medical fleets, utilities and civil
defense; (2) safety containment products for handling and storing
hazardous materials used by a  wide varietybroad  range  of
industrial and
laboratory  customers as well as  military agencieshazardous  area  lighting  and  municipal,
statecommunications
products used by mines,  petrochemical plants,  offshore oil platforms and federal governments; and (3) parking, revenue control,
and access control equipment and systems for parking facilities,
commercial businesses, bridge and pier installation and residential
developments.

   The visual and audible warning and signaling devicesother
hazardous industrial sites.  Products include
emergency vehicle warning lights, electromechanical and electronic
vehicle sirens and industrial signal lights,  sirens,
horns, bells and solid statesolid-state  audible signals,  audio/visual  emergency warning,
intercom and evacuation  systems,  including weatherspecialized  area lights,  control  ballasts,
connectors,  and  microprocessor-based  public  address and  multi-party  paging
systems.

    Outdoor  warning  systems  are  primarily  sold to city,  state and  federal
emergency  preparedness  agencies,  military  agencies and departments,  nuclear
power plantplants and large industrial facilities. Products include outdoor emergency
warning and evacuation  systems to provide  notification systemsof natural disaster and
fire alarm system panels and
devices.

   In May 1994, the Registrant acquired the principal operating
assets and assumed the principal operating liabilities of Justrite
Manufacturing Company for cash.  Justrite is an Illinois-based
manufacturer of safety equipment for the storage, transfer, use and
disposal of flammable and hazardous materials.

   The safetyother emergency situations.

    Hazardous liquid containment products offered by Justrite include safety cabinets for flammables
and corrosives;  safety and dispenser cans; waste receptacles and disposal cans;
spill control pallets and overpacks;  and hazardous  material storage buildings,
lockers, pallets and platforms.

    These products are designed in accordance
with various regulatory codes and standards, and meet agency
approvals such as FM and UL.

   Parking,  revenue control,  and access control equipment and systems include
parking and security gates,  card access readers,  ticket issuing devices,  coin
and  token  units,  fee  computers,  automatic  paystations,  various  forms  of
electronic control units and personal  computer-based revenue and access control
systems.

    During  the  five-year  period  ending  December  31,  2002,  the  following
businesses were acquired and became part of the Safety Products Group:

                   Principal
Entity             Headquarters  Acquired         Principal
                                                  Products/Services

Millbank           England       January 1999     Commercial and
                                                  industrial
                                                  communications systems

Atkinson Dynamics  Illinois      August 1998      Industrial intercoms,
                                                  communications systems

Stinger Spike      California    September 1998   Tire deflation products
                                                  for the law enforcement
                                                  industry

Citicomp           Brazil        October 1998     Parking equipment -
                                                  Brazil

NRL Corp.          Canada        November 1998    Explosion-proof
                                                  lighting for land based
                                                  oil and gas rigs

Extec Ltd.         England       December 1998    Explosion-proof
                                                  telephone housing

    Warning and signaling  products,  which account for the principal portion of
the group's  business,  are marketed to both industrial and governmental  users.
Many of the group's products are designed in accordance with various  regulatory
codes and standards,  and meet agency  approvals such as Factory Mutual (FM) and
Underwriters  Laboratory (UL). Products are sold to industrial customers through
manufacturers'  representatives  who sell to  approximately  1,4001,500  wholesalers.
Products are also sold to  governmental  customers  through more than 900 active
independent distributors as well as through original equipment manufacturers and
direct  sales.  International  sales are made  through the  Registrant'sgroup's  independent
foreign distributors or on a direct basis.

    Because of the large number of Registrant'sthe group's products, Registrantthe group competes with
a variety of  manufacturers  and suppliers and  encounters  varying  competitive
conditions  among its  different  products and encounters  different  classes of customers.
Because of the variety of such products and customers, no meaningful estimate of
either  the total  number of  competitors  or Registrant'sthe  group's  overall  competitive
position within the global market can be made. Generally, competition is intense
as to all of Registrant'sthe group's  products  and, as to most such  products,  is based on
price,  including competitive bidding,  on
product reputation and performance,  and
on product servicing. 
Although some competitors in certain product lines are larger than
Registrant, the Registrant believes it is the leading supplier of
particular products.

   In May 1992, the Registrant acquired all of the outstanding
shares of Aplicaciones Tecnologicas VAMA S.L. for cash and an
earnout to be based upon future profitability of the company for a
five-year period.  VAMA is a leading European manufacturer of
emergency vehicular signaling products located in Barcelona, Spain. 
The acquisition accelerates the Safety Products Group's strategic
objective of increasing international market penetration,
particularly in Europe.

    The backlogs of orders of the Safety Products Group products believed to be firm at December 31,
19942002 and 19932001 were $14.0$44.3 million and $9.7$31.6 million, respectively.  The backlogs at December
31, 1994 included approximately $2.4 million of backlog
attributable to Justrite, which was acquired in May 1994.  Almost all of
the backlogsbacklog of orders at December 31, 1994 are reasonably
expected to be filled within the current fiscal year.

Sign Group

   The Sign Group, operating principally under the name "Federal
Sign" designs, engineers, manufactures, installs and maintains
illuminated and non-illuminated sign displays, for both sale and
lease.  Registrant additionally provides sign repair services and
also enters into maintenance service contracts, usually over three
to five-year periods, for signs it manufactures as well as for
signs produced by other manufacturers.  Its operations are oriented
to custom designing and engineering of commercial and industrial
signs or groups of signs for its customers.    

   The sale and lease of signs and the sale of maintenance
contracts are conducted primarily through Registrant's direct sale
organization which operates from its twenty-three principal sales
and manufacturing facilities located strategically throughout the
continental U.S.  Customers for sign products and services consist
of local commercial businesses, as well as major national and
multi-national companies.

   The Sign Group's markets improved during 1994 with growth coming
from many of its national and multi-national customers, as well as
growth in the casino gaming industry.  This growth, combined with
the results of the aggressive restructuring programs implemented
over the last few years, resulted in more than tripling profits in
1994 versus 1993.

   A large number of Registrant's displays are leased to customers
for terms of typically three to five years with both the lease and
the maintenance portions of many such contracts then renewed for
successive periods.

   Registrant is nationally a principal producer of custom-designed
signs, but has numerous competitors (estimated at about 3,500 in
total), most of whom are localized in their operations. 
Competition for sign products and services is intense and
competitive factors consist largely of prices, terms, aesthetic and
design considerations, and maintenance services.  In some
instances, smaller and more localized operations may enjoy some
cost advantages which may permit lower pricing for particular
displays.  However, Registrant's reputation for creative design,
quality manufacture and complete nationwide service together with
its financial ability to maintain customer leasing programs and to
undertake large project commitments in many cases offset
competitors' price advantages.

   Total backlog at December 31, 1994, applicable to sign products
and services was approximately $57.0 million compared to
approximately $54.2 million at December 31, 1993.  A significant
part of Registrant's sign products and services backlog relates to
sign maintenance contracts since such contracts are usually
performed over long periods of time.  At December 31, 1994, the
Sign Group had a backlog of approximately $39.8 million compared to
approximately $41.5 million at December 31, 1993, represented by
in-service sign maintenance contracts.  With the exception of the
sign maintenance contracts, most of the backlog orders at December
31, 19942002 are reasonably  expected to be filled
within the current fiscal year.

Tool Group

    The Tool Group  manufactures a broad range of carbide and superhard  cutting
tools,  mold-tooling products are produced by the Registrant's
wholly-owned subsidiaries including:  Dayton Progress Corporation,
Schneider Stanznormalien GmbH, acquiredand punches and other die components used in 1992,metal
stamping and metal cutting operations.

    The cutting tool  operations  manufacture  consumable  carbide and superhard
insert  tooling for cutoff and deep grooving metal cutting  applications.  These
operations include  Manchester Tool Company and Clapp Dico Corporation,Corporation.  In July
1999,  the  group  acquired  in 1992, Bassett RotaryClapp  &  Haney  Tool  Company,  the  leading  U.S.
manufacturer  and Jamestown Punchmarketer of  polycrystalline  diamond and Tooling, Inc.

   Dayton Progress Corporation manufacturescubic boron  nitride
consumable  tooling.  The  group's  smaller  Dico-brand  superhard  cutting-tool
operations were consolidated into the larger,  more efficient  Whitehouse,  Ohio
facilities  in October  2000.  Together  these two combined  operations  are now
referred to as Clapp Dico.

    In January 2001,  the group  acquired On Time  Machining  Company  (OTM),  a
manufacturer  of indexable  insert  drills and purchasesmilling  cutters for use in metal
cutting  applications.  The group also made one small  product line  acquisition
within the year.

     In March 2000, the Tool Group acquired P.C.S.  Company  (P.C.S.) located in
Fraser,  Michigan.  P.C.S. provides precision tooling,  ejector pins, core pins,
sleeves and  accessories to the growing  plastic  injection  mold  industry.  By
combining  selective  marketing  and  sales  functions  with the die  components
business,  the P.C.S.  acquisition  enhances  future  growth  prospects for both
product segments.

    The die components and precision tooling operations manufacture and purchase
for  resale  an  extensive  variety  of  consumable  standard  and  special  die
components for the metal stamping industry. These components consist of piercing
punches, matched die matrixes, punch holders or retainers, can and body punches,
precision  ground  high alloy parts and many other  products  related to a metal
stamper's  needs.  RegistrantThe die  components  and precision  tooling  operations  also
producesproduce a large variety of consumable  precision  metal  products for customers'
nonstamping  needs,  including special heat exchanger tools,  beverage container
tools, powder compacting unitstools and molding  components.  In March 1992,Subsidiaries of the die
components  and  precision   tooling   operations   include:   Dayton   Progress
Corporation,  acquired for cash the
assets of Schneider Stanznormalien GmbH, a German manufacturer of
precision punch and die components.  This acquisition gives Dayton Progress manufacturing capabilities on the European continentGmbH, Jamestown Precision Tooling, Inc., Technical
Tooling, Inc. (TTI) and
provides greater access to European markets.

   In October 1991, Dayton Progress Corporation acquired for cash
and stock all of the outstanding shares of Container Tooling
Corporation.  Container Tool manufactures and distributes body
punch tooling used in the production of aluminum and steel beverage
cans.  The product complements Dayton Progress' tab-top tooling
product line.  In October 1994 the Container Tool operations were
relocated to Dayton Progress' facilities in Dayton, Ohio.

   Manchester Tool Company manufactures consumable carbide insert
tooling for cutoff and deep grooving metal cutting applications.

   In November 1992, Manchester Tool Company acquired for cash all
of the outstanding shares of Dico Corporation, a manufacturer of
polycrystalline diamond and cubic boron nitride cutting tools. 
This product line complements Manchester Tool's carbide insert
products and allows for entry into new market niches within general
business areas already served.

   Bassett Rotary Tool Company is a manufacturer of consumable
carbide cutting tools.  Its products are medium to high precision
in their manufacture and at times are quite complex in their
configuration.  The products represent a narrow band of the much
broader cutting tool industry and require a high level of
manufacturing skill.

   Jamestown Punch and Tooling, Inc. manufactures an extensive line
of consumable special die components for the metal stamping and
plastic molding industries in addition to a variety of precision
ground high alloy parts.  Sales are made on both a direct basis and
through a limited distributor organization.SAS.

    Because of the nature of and market for the Registrant'sgroup's products, competition is
greatkeen at both domestic and international levels. Many customers have some ability
to produce the productcertain products themselves, but at a cost disadvantage. Major market
emphasis is placed on quality of product, delivery and level of service.

    Tool Group products are laborcapital intensive with the only significant  outside
cost being the  purchase of the tool  steel,  carbide,  cubic boron  nitride and
polycrystalline  diamond raw material, as well as items necessary for manufacturing.
Inventories  are  maintained to assure  prompt  service to the customer with the
average  order for  standard  tools  filled  in less than one week for  domestic
shipments and within two weeks for international shipments.

    Tool Group customers include metal and plastic  fabricators and tool and die
shops  throughout  the  world.  Because of the  nature of the  products,  volume
depends mainly on repeat orders from customers numbering in the thousands. These
products are used in the manufacturing process of a broad range of items such as
automobiles,  appliances, construction products, electrical motors, switches and
components and a wide variety of other household and industrial goods.
Almost all business is done with private industry.

    Registrant'sThe  group's   products  are  marketed  in  the  United  States,   Japan
and  Europemany
international    markets,    principally   through   industrial    distributors.
ForeignForeign-owned  manufacturing, facilities, as well as  sales and distribution  offices,facilities are located in
Weston,Woodbridge,  Ontario; Sagamihara,Tokyo, Japan; Kenilworth,Warwickshire,  England; Alcobaca,  Portugal;
Oberursel, Germany; and Oberursel, Germany.  Sales to nondomestic
customers are made through five wholly-owned subsidiaries:  Dayton
Progress Canada, Ltd., Dayton Progress International Corporation,
Dayton Progress (UK) Ltd., Nippon Dayton Progress K.K. and
Schneider Stanznormalien GmbH.

   Order backlogs of the Tool Group as of December 31, 1994 and
December 31, 1993 were $9.5 million and $7.5 million, respectively. 
Almost all of the backlogs of orders at December 31, 1994 are
expected to be filled within the current fiscal year.

Vehicle GroupMeaux, France.

     The Vehicle Group is composed of Emergency One, Inc., Superior
Emergency Vehicles, Ltd., acquired in 1991, Elgin Sweeper Company,
Vactor Manufacturing, Inc., acquired in 1994, Guzzler
Manufacturing, Inc., acquired in 1993, and Ravo International,
acquired in 1990.

   Emergency One, Inc. is a leading manufacturer of custom-designed
ambulances, fire trucks and rescue vehicles including four and
six-wheel drive rescue trucks, tankers, pumpers, aerial ladder
trucks, and airport rescue and fire fighting vehicles (each of
aluminum construction for rust-free operation and energy
efficiency).
  
   In December 1991, Emergency One acquired for cash all of the
outstanding shares of Frontline Corporation, a manufacturer and
distributor of ambulances, rescue trucks and mobile communication
vehicles.  The acquisition of Frontline Corporation complemented
Emergency One's product line and enabled Emergency One to provide
a complete product line of fire trucks, fire apparatus, emergency
support and ambulance vehicles for distribution through Emergency
One's domestic and international dealer network.  During 1993, the
company's ambulance operations were relocated to Emergency One's
facilities in Ocala, Florida and the mobile communications vehicles
product line was sold.  The company was merged into Emergency One
in January 1994.

   In December 1991, Emergency One acquired for cash, Superior
Emergency Vehicles, Ltd., a manufacturer and distributor of a full
range of fire truck bodies primarily for the Canadian market.  In
addition to increased manufacturing capacity, the acquisition of
Superior Emergency Vehicles, Ltd. provides greater access to the
Canadian market.

   Elgin Sweeper Company is the leading manufacturer in the United
States of self-propelled street cleaning vehicles.  Utilizing three
basic cleaning methods (mechanical sweeping, vacuuming and
recirculating air), Elgin's products are primarily designed for
large-scale cleaning of curbed streets and other paved surfaces.

   In June 1994, the Registrant acquired the principal operating
assets and assumed the principal operating liabilities of Peabody
Myers Corporation ("Vactor") for cash.  Vactor Manufacturing, Inc.
is an Illinois-based manufacturer of municipal combination catch
basin/sewer cleaning vacuum trucks.  This acquisition provides a
significant expansion of the Registrant's offering of municipal
equipment and enhances the domestic and international dealer
networks of both Elgin Sweeper and Vactor.

   In March 1993, Elgin Sweeper Company acquired, principally for
cash, all of the outstanding shares of Guzzler Manufacturing, Inc. 
Guzzler is an Alabama-based manufacturer and marketer of waste
removal vehicles, using vacuum technology, for worldwide industrial
and environmental markets.  The acquisition of Guzzler
Manufacturing, Inc. complements Elgin Sweeper Company's product
distribution and provides for increased exposure to the industrial
marketplace for both Elgin and Guzzler.

   In December 1990, the Registrant, through Federal Signal Europe
BV, acquired all of the outstanding shares of Van Raaij Holdings BV
(which, along with its subsidiaries, is referred to herein as Ravo
International), a Netherlands-based street sweeper manufacturer,
for cash and an earnout to be based upon future profitability of
the company for a five-year period.  Ravo International is a
leading European manufacturer and marketer of self-propelled street
and sewer cleaning vehicles.  Utilizing the vacuuming cleaning
method, Ravo's products are primarily designed for cleaning of
curbed streets and other paved surfaces.  Both Ravo International
and Elgin Sweeper Company also sell accessories and replacement
parts for their sweepers.  Ravo International also provides after-
market service and support for its products in the Netherlands.

   Some products and components thereof are not manufactured by
Registrant but are purchased for incorporation with products of
Registrant's manufacture.

   A majority of Vehicle Group sales are made to domestic and
overseas municipalities and other governmental units.  Industrial
vacuum loader vehicles produced by Guzzler are principally sold to
commercial and industrial customers.  Worldwide sales are
principally conducted by domestic and international dealers, in
most areas, with some sales being made on a direct-to-user basis.

   Registrantgroup competes with several domesticU.S. and foreignnon-U.S.  manufacturers and due to
the diversity of products offered,  no meaningful  estimate of either the number
of competitors or Registrant'sthe group's relative  position within the global market can be
made,  although  Registrantthe group does  believe  it is a major  supplier  within  these
product  lines.  RegistrantThe  group  competes  with  numerous  foreignnon-U.S.   manufacturers,
principally in internationalnon-U.S. markets.

    AtThe order  backlogs of the Tool Group as of December  31, 1994,2002 and  December
31, 2001 were $11.4 million and $10.7 million,  respectively. The entire backlog
of orders at  December  31,  2002 is  expected  to be filled  within the Vehiclecurrent
fiscal year.

Sign Group

    backlogs were $180.5The Sign Group  manufactures  and markets outdoor signs,  neon and displays.
The group additionally  provides repair services and also enters into multi-year
maintenance  service contracts for signs and other electrical  equipment such as
parking lot lights and message  boards.  Its  operations  are oriented to custom
designing and engineering of commercial and industrial  signs or groups of signs
for its customers.

    The sale  and  lease of signs  and the  sale of  maintenance  contracts  are
conducted  primarily through the group's direct sales organization that operates
from sales and manufacturing  facilities  located  strategically  throughout the
continental U.S.  Customers for sign products and services consist  primarily of
multi-location  commercial  businesses and large  commercial  and  institutional
developments.

    Some of the group's  displays are leased to customers for terms of typically
three to five years,  with both the lease and the  maintenance  portions of many
such contracts then renewed for successive periods.

    The  group is  nationally  a  principal  producer  of  high-end  custom  and
custom-quantity signs. The group's marketing strategies focus on market segments
to which it can  provide  a unique  set of  services.  The  group  has  multiple
regional and national competitors. Competition for sign products and services is
intense and competitive factors are largely quality,  price, project and program
management    capabilities,    aesthetic   and   design    considerations    and
lease/maintenance services.

    Total backlog at December 31, 2002, applicable to sign products and services
was  approximately  $38.1  million  compared to  $150.3approximately  $45.8 million at
December 31, 1993.  The
backlogs2001. A significant  part of the group's sign products and services
backlog relates to sign  maintenance  contracts that are usually  performed over
three to five  years.  At  December  31,  2002,  the Sign Group had a backlog of
in-service sign maintenance contracts of approximately $34.0 million compared to
approximately $37.5 million at December 31, 1994, included approximately $10.2 million
of backlog attributable to Vactor Manufacturing, Inc., which was
acquired in June 1994.  A substantial majority2001. With the exception of the orders insign
maintenance  contracts,  most of the  backlogsbacklog  orders at  December  31, 19942002 are
reasonably expected to be filled within the current fiscal year.

    Approximately $24.0 millionDuring 2000,  the  Registrant  announced  it is seeking  buyers for the Sign
Group due to the Registrant  focusing on growth strategies for its other groups.
The results of the backlogs at December 31, 1994 and $34.3 million ofSign Group are  reported as  discontinued  operations  in the
backlogs at
December 31, 1993 represent the funded portion of a subcontract to
build P-23 airport rescue and fire fighting vehicles for the U.S.
Air Force.  The majority of the $24.0 million backlog at December
31, 1994 is expected to be produced and shipped during 1995.Registrant's consolidated financial statements.

Additional Information

    The  Registrant's  sources and  availability of materials and components are
not materially dependent upon either a single vendor or very few vendors.

    The Registrant owns a number of patents and possesses rights under others to
which it attaches importance,  but does not believe that its business as a whole
is materially  dependent upon any such patents or rights.  The  Registrant  also
owns a number of trademarks  whichthat it believes are  important in connection  with
the identification of its products and associated  goodwill with customers,  but
no material part of the Registrant's business is dependent on such trademarks.

    The  Registrant's   business  is  not  materially  dependent  upon  research
activities  relating  to the  development  of new  products  or  services or the
improvement  of existing  products  and  services,  but such  activities  are of
importance as to some of the  Registrant's  products.  Expenditures for research
and  development by the  Registrant  were  approximately  $7.0$26.5 million in 1994, $5.62002,
$20.0 million in 19932001 and $5.2$18.8 million in 1992.2000.

    Note NM - Segment  and Related  Information,  presented  in the  annual reportRegistrant's
Annual Report to  shareholdersShareholders  for the year ended  December 31, 1994,2002,  contains
information   concerning  the  Registrant's  foreign  sales,  export  sales  and
operations by geographic area, and is incorporated herein by reference.

    Certain of the Registrant's  businesses are susceptible to the influences of
seasonal buying or delivery patterns. The Registrant's  businesses which tend to
have lower sales in the first calendar  quarter  compared to other quarters as a
result of these influences are signage, street sweeping, outdoor warning, other municipal
emergency signal products, and parking systems, aerial access platform manufacturing
operations.operations and signage.

    No material part of the business of the Registrant is dependent  either upon
a single  customer  or very few  customers.  The  Registrant  is in  substantial
compliance  with federal,  state and local  provisions whichthat have been enacted or
adopted regulating the discharge of materials into the environment, or otherwise
relating to the  protection of the  environment.  These  provisions  have had no
material  adverse  impact upon  capital  expenditures,  earnings or  competitive
position of the Registrant and its  subsidiaries.  The Registrant  employed 5,243over
7,400 people in ongoing businesses at the close of 1994.2002. The Registrant believes
relations with its employees have been satisfactory.good.

Available Information

    The Registrant makes its annual reports on Form 10-K,  quarterly  reports on
Form  10-Q,  current  reports  on  Form  8-K and  amendments  to  those  reports
available,     free    of    charge,     through    its     Internet     website
(http://www.federalsignal.com)   as  soon  as  reasonably   practical  after  it
electronically  files or furnishes such materials to the Securities and Exchange
Commission.  All of the Registrant's  filings may be read or copied at the SEC's
Public Reference Room at 450 Fifth Street, NW, Washington, DC 20549. Information
on the operation of the Public Filing Room can be obtained by calling the SEC at
1-800-SEC-0330.  The SEC maintains an Internet website (http://www.sec.gov) that
contains  reports,  proxy  and  information  statements  and  other  information
regarding issuers that file electronically.

Item 2.    Properties.

    As of March 1, 1995,December 31, 2002,  the  Registrant  utilized  twenty-seventhirty-eight  principal
manufacturing  plants located primarily  throughout  North America,  as well as sevensixteen in
Europe, one in South Africa, one in South America, and one in the Far East.

    In addition, there were thirty-six sales and service/warehouse sites,
with thirty-three being domestically based and three  located
overseas.  The majority of the manufacturing plants are owned,
whereas all the sales and service/warehouse sites are leased.

   In total,  the Registrant  devoted  approximately  1,464,0002,558,000  square feet to
manufacturing and 890,0001,222,000 square feet to service, warehousing and office space
as of March 1, 1995.December  31,  2002.  Of the total square  footage,  approximately  31%30% is
devoted to the Safety  Products  Group,  14% to the Sign Group, 11% to the Tool Group,  and  44%23% to the Vehicle Group.  Not included inFire
Rescue Group, 30% to the manufacturing square footage is
approximately 21,000 square feet of unutilized manufacturing space
that resulted from the rearrangement of the Registrant's
manufacturing operations inEnvironmental  Products Group and 6% to the Sign and Tool groups.  The majority
of this space is presently being marketed for lease to
nonaffiliates.Group.
Approximately  66% of the total square footage is owned by the Registrant,  with
the remaining 34% being leased.

    All of the  Registrant's  properties,  as well as the related  machinery and
equipment, are considered to be well-maintained, suitable and adequate for their
intended purposes. In the aggregate, these facilities are of sufficient capacity
for the Registrant's current business needs.

Capital expenditures for the years ended December 31, 1994,
1993, and 1992 were $11.1 million, $10.1 million, and $8.8 million,
respectively.  Registrant anticipates total capital expenditures in
1995 will be approximately 30% to 50% greater than 1994 amounts.

Item 3.    Legal Proceedings.

    The  Registrant  is subject to various  claims,  other  pending and possible
legal actions for product  liability and other damages and other matters arising
out of the conduct of the Registrant's business. With the exception of the matter discussed below, theThe Registrant believes,  based
on current knowledge and after  consultation  with counsel,  that the outcome of
such  claims  and  actions  will  not  have a  material  adverse  effect  on the
Registrant's consolidated financial position or the results of operations.

On May 3, 1993, a Texas federal court jury rendered a verdict
of $17,745,000 against Federal Sign, a division of the Registrant,
for alleged violation of the Texas Deceptive Trade Practices Act
and misrepresentations to Duravision, Inc. and Manufacturers
Product Research Group of North America, Inc. in connection with a
1988 research and development project for indoor advertising signs. 
The  Registrant believeshas been sued by  firefighters  in Chicago  seeking  damages and
claiming that exposure to the court erroneously excluded important
evidenceRegistrant's sirens has impaired their hearing and
that the verdict was againstsirens are therefore  defective.  There were sixteen cases filed during
the  weightperiod  1999-2002,  involving  a total of 1,004  plaintiffs  pending in the
evidence.  Both inside and outside counsel that initially handled
the case opined at the timeCircuit  Court  of  the verdict that the likelihood of
a substantially unfavorable resultCook  County,   Illinois.  The  plaintiff's  attorneys  have
threatened  to the Registrant on appeal was
remote.  Trial counsel has turned the case over to new appellate
counsel and has stated they cannot currently give an opinion on the
appeal because they are no longer handling the case.  Appellate
counsel now handling the appeal of the case has not issued an
opinion on its outcome.  However,bring more suits if the  Registrant  loses its
appeal of this case, there would be a charge to earnings for this
$17,745,000 verdict, plus interest and attorney fees of up to
$11,000,000.  On the other hand, there would be no such charges to
earnings for a decision reversing the original verdict or the
appellate court could issue a decision somewhere in between. 
Depending on the outcome of this matter, an adverse decision may
have a material effect on results of operations and cash flows in
the periods that the appellate court decision is made and required
payments are made.does not settle these cases.
The  Registrant  believes that the ultimate
resolution of this contingency, however, will notthese product  liability  suits have a material
effect on its financial condition nor its results of operations or
cash flows for periods subsequent to the appellate court decisionno merit and
payments required as a result of such decision.that sirens are necessary in emergency situations and save lives. The Registrant
cannot reasonably estimatesuccessfully  defended  approximately  41 similar cases in  Philadelphia in 1999
after a series of unanimous jury verdicts in favor of the ultimate amount of a judgment, if
any, or interest and attorney fees, if any, which may result from
an adverse appellate court decision.  Accordingly, the Registrant
has not recorded any accruals for potential losses which may result
from an adverse judgment.  In the event of an adverse decision, the
Registrant intends to aggressively pursue a substantial recovery
from its original trial counsel in this matter.Registrant.

Item 4.    Submission of Matters to a Vote of Security Holders.

    No  matters  were  submitted  to a vote  of  security  holders  through  the
solicitation of proxies or otherwise  during the three months ended December 31,
1994.2002.

                                     PART II

Item 5.    Market  for  the  Registrant's  Common  Stock  and  Related
           Security Holder Matters.

    Federal  Signal  Corporation's  Common Stock is listed and traded on the New
York Stock  Exchange  under the symbol FSS.  PerMarket price range and dividend per
share data listed in Note O -SelectedS - Selected  Quarterly Data (Unaudited)  contained in
the 1994 annual reportAnnual Report to shareholdersShareholders for the years ended December 31, 2002 and 2001
is  incorporated  herein by  reference.  As of March 1,  1995,2003,  there were 5,4033,716
holders of record of the Registrant's common stock.

    Certain  long-term debt agreements  impose  restrictions on the Registrant's
ability to pay cash dividends on its common stock. All of the retained  earnings
at December 31, 1994,2002 were free of any restrictions.

Item 6.    Selected Financial Data.

    Selected  Financial  Data  contained in the  1994 annual reportRegistrant's  Annual  Report to
shareholdersShareholders  for the year ended  December  31, 2002 is  incorporated  herein by
reference.

Item 7.    Management's  Discussion and Analysis of Financial Condition
           and Results of Operations.

    The  Financial  Review  sections "Consolidated Results of
Operations," "Group Operations" and "Financial Position and Cash
Flow" contained  in  the  1994 annual reportRegistrant's  Annual  Report  to
shareholders are
incorporated herein by reference.

   Note M - Contingency, contained in the annual report to
shareholdersShareholders  for the year ended  December  31, 1994,2002 is  incorporated  herein by
reference.

Item 7a.   Qualitative and Quantitative Disclosures About Market Risk.

    The  Financial  Review  caption  "Market Risk  Management"  contained in the
Registrant's  Annual Report to Shareholders for the year ended December 31, 2002
is incorporated herein by reference.

Item 8.    Financial Statements and Supplementary Data.

    The  consolidated  financial  statements and  accompanying  footnotes of the
Registrant  and  the  report  of  the  independent  auditors  set  forth  in the
Registrant's  1994 annual reportAnnual Report to shareholdersShareholders for the year ended December 31, 2002
are incorporated herein by reference.

Item 9.    Changes in and Disagreements  with Accountants on Accounting
           and Financial Disclosure.

    None.



                                    PART III

Item 10.   Directors and Executive Officers of the Registrant.

    The information under the caption  "Election of Directors"  contained in the
Registrant's  Proxy  Statement for the Annual Meeting of Shareholders to be held
on April 19, 199517, 2003 is incorporated herein by reference.

    The following is a list of the Registrant's executive officers,  their ages,
their business experience and their positions and offices as of March 1, 1995:2002:

    Joseph J. Ross, age 49,57, was elected Chairman, President and Chief Executive
Officer in February  1990.  Previously he served as
PresidentMr. Ross  continues  to serve in the  capacities  of
Chairman and Chief Executive Officer since December 1987 and as
Chief Operating Officer since July 1986.Officer.

    John A.  DeLeonardis,  age 47,55, was elected Vice  President-Taxes  in January
1992.

    He first joined the company as Director of TaxDuane A. Doerle, age 47, was elected Vice President-Corporate Development in
November 1986.

   Henry L. Dykema,July 1996.

    Stephanie  K.  Kushner,  age 55, joined the Registrant47,  was  elected as Vice  President  and Chief
Financial Officer in January 1995.  He replaced Charles
R. Campbell, ChiefFebruary 2002. Previously, Ms. Kushner was Vice President -
Treasury and Corporate  Development for FMC Technologies in 2001, Vice President
and  Treasurer for FMC  Corporation  from  1999-2001,  and Director of Financial
Officer since 1985, who retired at the
endPlanning of 1994.  Mr. Dykema was self-employedFMC Corporation from September 1993 to
December 1994 and served as Vice President-Finance and Chief
Financial Officer of Kennametal, Inc. from October 1989 to August
1993.

   Robert W. Racic,1997-1999.

    Karen N.  Latham,  age 46,43, was  elected  Vice  President  and  Treasurer  in
April 1984.December 2002. Previously, Ms. Latham spent ten years in corporate banking (1981
- - 1986 and 1987 - 1990 with Harris Bank and 1986 - 1987 with Citicorp) and seven
years  in  corporate  senior  financial  roles.   Specifically,   she  was  Vice
President/Treasurer with Vigoro Corporation, and its successor organization, IMC
Global, Inc., from 1990 to 1997 and Vice President/Chief  Financial Officer with
Florsheim Corporation in 1997. More recently,  she was a Consultant from 1998 to
2001 with Egon Zehnder International, Inc. and a Senior Vice President from 2001
to 2002 with Coffou Partners, Inc.

    Richard L. Ritz,  age 41,49, was  elected  Vice  President  and  Controller  in
January 1991.

    He was appointed Controller effective
November 1985. 

   Kim A. Wehrenberg,  age 43,51, was elected Vice President,  General Counsel and
Secretary effective October 1986.

    These  officers  hold office  until the next annual  meeting of the Board of
Directors  following their election and until their  successors  shall have been
elected and qualified.

    There  are no family  relationships  among  any of the  foregoing  executive
officers.

Item 11.   Executive Compensation.

    The information contained under the caption "Executive  Compensation" of the
Registrant's  Proxy  Statement for the Annual Meeting of Shareholders to be held
April 19, 199517, 2003 is incorporated herein by reference.

Item 12.   Security   Ownership  of  Certain   Beneficial  Owners  and
           Management.

    The information  contained under the captioncaptions "Security Ownership of Certain
Beneficial   Owners"  and  "Equity   Compensation   Plan   Information"  of  the
Registrant's  Proxy  Statement for the Annual Meeting of Shareholders to be held
April 19, 199517, 2003 is incorporated herein by reference.

Item 13.   Certain Relationships and Related Transactions.

    The information contained under the caption "Executive  Compensation" of the
Registrant's  Proxy  Statement for the Annual Meeting of Shareholders to be held
April 19, 199517, 2003 is incorporated herein by reference.

Other Matters

    The  Registrant  has  two  directors  that  qualify  as  "independent  audit
committee  financial  experts",   as  defined  by  the  Sarbanes-Oxley  Act  and
Securities and Exchange Commission, on its Audit Committee.  These directors are
Mr.  Charles R. Campbell,  Chairman of the Audit  Committee and Principal of The
Everest Group,  and Ms. Joan E. Ryan,  Senior Vice President and Chief Financial
Officer of SIRVA, Inc.

                                     PART IV

Item 14.   Controls and Procedures.

(a)   Evaluation of Disclosure Controls and Procedures

      As required by new Rule 13a-15 under the Securities  Exchange Act of 1934,
      within  the 90 days  prior  to the  date of this  report,  the  Registrant
      carried out an evaluation under the supervision and with the participation
      of the  Registrant's  management,  including the Chief  Executive  Officer
      (CEO) and Chief  Financial  Officer  (CFO),  of the  effectiveness  of the
      design and operation of the disclosure controls and procedures. Based upon
      that evaluation, the management, including the CEO and CFO, concluded that
      the  disclosure  controls  and  procedures  were  effective to ensure that
      information  required to be disclosed by the  Registrant in the reports it
      files or submits under the Exchange Act is recorded, processed, summarized
      and  reported,  within the time periods  specified in the  Securities  and
      Exchange  Commission's  rules and forms.  In connection with the new rules
      and as a matter of  practice,  the  Registrant  continues  to  review  and
      document disclosure  controls and procedures,  including internal controls
      and procedures for financial reporting.  From time to time, the Registrant
      may make changes aimed at enhancing the  effectiveness of the controls and
      to ensure that the systems  evolve with the  business.  There have been no
      significant  changes in the  internal  controls or in other  factors  that
      could  significantly  affect internal controls  subsequent to the date the
      Registrant carried out its evaluation.

(b)   Changes in Internal Controls

      None.

Item 15.   Exhibits,  Financial Statement Schedules and Reports on Form
8-K.

(a)1. Financial Statements

      The  following   consolidated   financial  statements  of  Federal  Signal
      Corporation and Subsidiaries included in the 1994
       annual report ofRegistrant's Annual Report to
      Shareholders  for the Registrant to its shareholdersyear ended  December 31, 2002 are filed as a part of
      this report and are incorporated by reference in Item 8:

           Consolidated Balance Sheets -- December 31, 19942002 and 19932001

           Consolidated  Statements  of Income -- Years  ended  December
           31, 1994,  19932002, 2001 and 19922000

           Consolidated  Statements  of  Comprehensive  Income  -- Years
           ended
           December 31, 2002, 2001 and 2000

           Consolidated  Statements  of Cash Flows -- Years ended  December  31,
           1994, 19932002, 2001 and 19922000

           Notes to Consolidated Financial Statements

  2.  Financial Statement Schedules

      The following  consolidated financial statement schedule of Federal Signal
      Corporation and Subsidiaries,  for the three years ended December 31, 1994,2002
      is filed as a part of this report in response to Item 14(d):

           Schedule II -- Valuation and qualifying accounts

      All  other  schedules  for  which  provision  is  made  in the  applicable
      accounting  regulations of the Securities and Exchange  Commission are not
      required  under  the  related   instructions  or  are  inapplicable,   and
      therefore, have been omitted.

  3.  Exhibits

      3. a. Restated Certificate of Incorporation of the Registrant,
             and Certificate of Amendment, filed as
            Exhibit  (3)(a) to the  Registrant's  Form  10-K for the year  ended
            December 31, 1991,1996 is incorporated herein by reference.

         b. By-laws  of  the   Registrant,   filed  as  Exhibit  (3)(b)  to  the
            Registrant's  Form  10-K for the year  ended  December  31,  1991,2000 is
            incorporated herein by reference.

      4. a.  Rights  Agreement  dated  7/9/98,  filed as  Exhibit  (4)(a) to the
            Registrant's Form 10-K for the year ended December
             31, 1993,8-A dated July 28, 1998 is incorporated  herein by
            reference.

         b. The  Registrant  has no  long-term  debt  agreements  for  which the
            related outstanding debt exceeds 10% of consolidated total assets as
            of  December  31,  1994.2002.  Copies of debt  instruments  for which the
            related debt is less than 10% of  consolidated  total assets will be
            furnished to the Commission upon request.

      10. a.  198810.a. The amended 1996 Stock Benefit Plan, filed as Exhibit (10)(a) to the
            Registrant's  Form  10-K for the year  ended  December  31,  1991,1998 is
            incorporated herein by reference.

         b. Corporate  Management  Incentive  Bonus Plan.Plan as incorporated
            herein.

         c.  Subsidiaries, Division and Other Designated Profit
             Centers Management Incentive Bonus Plan.

         d. Supplemental   Pension  Plan,   filed  as  Exhibit  (10)(d)(c)  to  the
            Registrant's  Form  10-K for the year  ended  December  31,  1990,1995 is
            incorporated herein by reference.

         e.d. Executive Disability, Survivor and Retirement Plan, filed as Exhibit
            (10)(e)(d) to the  Registrant's  Form 10-K for theyearthe year ended  December
            31, 1990,1995 is incorporated herein by reference.

         f.e. Supplemental  Savings and Investment  Plan, filed as Exhibit (10)(f)
            to the  Registrant's  Form 10-K for the year ended December 31, 1993
            is incorporated herein by reference.

         g.f. Employment  Agreement with Joseph J. Ross.

         h.  Change of Control Agreement with Kim A. Wehrenberg.

         i.  Director Deferred Compensation Plan,Ross,  filed as Exhibit (10)(j)(g)
            to the  Registrant's  Form 10-K for the year ended December 31, 1992,1994
            is incorporated herein by reference.

         j.  Director Retirement Plan,g. Pension Agreement with Stephanie K. Kushner as incorporated herein.

         h. Employment  Termination  Agreement  with  Stephanie  K.  Kushner  as
            incorporated herein.

         i. Change of Control Agreement with Kim A. Wehrenberg, filed as Exhibit
            (10)(k)(h) to the  Registrant's  Form 10-K for the year ended  December
            31, 1992,1994 is incorporated herein by reference.

         11. Computationj. Change of net income per common share

     13. 1994 AnnualControl  Agreement  with  Stephanie K.  Kushner,  filed as
            Exhibit  (10) (i) to the  Registrant's  Form 10-K for the year ended
            December 31, 2001 is incorporated herein by reference.

         k. Director Deferred Compensation Plan, filed as Exhibit (10)(h) to the
            Registrant's  Form  10-K for the year  ended  December  31,  1997 is
            incorporated herein by reference.

         l. Retirement Plan for Outside  Directors  (applies only to individuals
            who became a director  prior to October 9,  1997),  filed as Exhibit
            (10)(I) to the  Registrant's  Form 10-K for the year ended  December
            31, 1997 is incorporated herein by reference.

         m. Broad  Based  Stock  Option  Plan,  filed  as  Exhibit  (99)  to the
            Registrant's Form S-8 dated January 31, 2002 is incorporated  herein
            by  reference.  This plan was  terminated  on July 18, 2002,  and no
            shares were issued pursuant to this plan.

      13.Annual  Report to  Shareholders  of Federal Signal
         Corporation.for the year ended  December 31, 2002.
         Such  report,  except for those  portions  thereof  whichthat are  expressly
         incorporated  by  reference  in this Form 10-K,  is  furnished  for the
         information of the  Commission  only and is not to be deemed "filed" as
         part of this filing.

      21. Subsidiaries21.Subsidiaries of the Registrant

      23. Consent23.Consent of Independent Auditors

      27.99.a. CEO  Certification  of Periodic  Report under Section 906 of
            Sarbanes-Oxley Act.

         b. CFO  Certification  of Periodic  Report under Section 906 of
            Sarbanes-Oxley Act.

         c. Code of Ethics for CEO and Senior Financial Data ScheduleOfficers.

(b) Reports on Form 8-K

   No reports on Form 8-K were filed for the three months ended December 31, 1994.2002

    None.

(c) and (d)

    The  response to this  portion of Item 14 is being  submitted  as a separate
    section of this report.

Other Matters

      For the purposes of complying with the  amendments to the rules  governing
Form S-3 and Form S-8  (effective  July 13,  1990) under the  Securities  Act of
1933, the  undersigned,  the  Registrant,  hereby  undertakes as follows,  which
undertaking   shall  be   incorporated   by  reference  into  the   Registrant's
Registration  Statements  on Form S-3 Nos.  333-71886,  333-76372  and 333-98993
dated October 19, 2001,  January 7, 2002 and August 30, 2002,  respectively  and
Form  S-8 Nos.  33-12876,  33-
22311,33-22311,  33-38494,  33-41721,  33-49476,  33-14251,
33-89509 and 33-49476,333-81798 dated April 14, 1987,  June 26, 1988,  December 28, 1990,
July 15, 1991, and June 9, 1992, October 16, 1996, October 22, 1999, and January 31,
2002, respectively:

      Insofar as  indemnification  for liabilities  arising under the Securities
Act of 1933 may be permitted to directors,  officers and controlling  persons of
the  Registrant  pursuant  to  the  foregoing  provisions,   or  otherwise,  the
Registrant  has been advised that in the opinion of the  Securities and Exchange
Commission such indemnification is against public policy as expressed in the Act
and is, therefore,  unenforceable. In the event that a claim for indemnification
against such  liabilities  (other than the payment by the Registrant of expenses
incurred or paid by a director,  officer or controlling person of the Registrant
in the successful defense of any action, suit or proceeding) is asserted by such
director,  officer or controlling person in connection with the securities being
registered, the Registrant will, unless in the opinion of its counsel the matter
has been  settled by  controlling  precedent,  submit to a court of  appropriate
jurisdiction the question whether such  indemnification  by it is against public
policy as expressed in the Act and will be governed by the final adjudication of
such issue.

Signatures


Pursuant to the requirements of Section 13 or 15 (d) of the Securities  Exchange
Act of 1934,  the  Registrant  has duly  caused  this report to be signed on its
behalf by the undersigned, thereunto duly authorized.


                                      FEDERAL SIGNAL CORPORATION



                                      By:       /s/ Joseph J. Ross
                                                  March 20, 1995Joseph J. Ross
                                             Chairman, President, Chief Executive
                                               Officer and Director




Pursuant to the requirements of the Securities Exchange Act of 1934, this report
has been signed below, onas of March 20, 1995,27, 2003, by the following persons on behalf
of the Registrant and in the capacities indicated.



    Henry L. Dykema                      Walter/s/ Stephanie K. Kushner                  /s/ Charles R. PeirsonCampbell
      Stephanie K. Kushner                      Charles R. Campbell
    Vice President and Chief                         Director
        Financial Officer

       /s/ Richard L. Ritz                     J. Patrick Lannan, Jr./s/ James C. Janning
         Richard L. Ritz                         James C. Janning
  Vice President and Controller                      Director

                                                 /s/ Paul W. Jones
                                                   Paul W. Jones
                                                     Director

                                             /s/ James A. Lovell, Jr.
                                               James A. Lovell, Jr.
                                                     Director

                                               /s/ Walden W. O'Dell
                                                 Walden W. O'Dell
                                                     Director


                                                 /s/ Joan E. Ryan
                                                   Joan E. Ryan
                                                     Director


                                               /s/ Richard R. Thomas N. McGowen, Jr.  
                                                Director
                                                 Richard R. Thomas
                                                     Director



                                                                    SCHEDULE II



FEDERAL SIGNAL CORPORATION AND SUBSIDIARIES
Valuation and Qualifying Accounts

For the Years Ended December 31, 1994, 1993 and 1992


Deductions Additions Accounts Balance at Charged to written off Balance beginning costs and net of at end Description of year expenses recoveries of year Year ended December 31, 1994: Deducted from asset accounts: Allowance for doubtful accounts Manufacturing activities $2,215,000 $2,848,000 Financial service activities 976,000 1,174,000 Total $3,191,000 $1,809,000 $ 978,000 $4,022,000 Year ended December 31, 1993: Deducted from asset accounts: Allowance for doubtful accounts Manufacturing activities $1,688,000 $2,215,000 Financial service activities 1,138,000 976,000 Total $2,826,000 $2,710,000 $2,345,000 $3,191,000 Year ended December 31, 1992: Deducted from asset accounts: Allowance for doubtful accounts Manufacturing activities $1,392,000 $1,688,000 Financial service activities 857,000 1,138,000 Total $2,249,000 $2,521,000 $1,944,000 $2,826,000
CEO Certification Under Section 302 of the Sarbanes-Oxley Act I, Joseph J. Ross, certify that: 1. I have reviewed this annual report Form 10-K of Federal Signal Corporation; 2. Based on my knowledge, this annual report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this annual report; 3. Based on my knowledge, the financial statements and other financial information included in this annual report, fairly present in all material respects the financial condition, results of operations and cash flows of the Registrant as of, and for, the periods presented in this annual report. 4. The Registrant's other certifying officers and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-14 and 15d-14) for the Registrant and have: a) designed such disclosure controls and procedures to ensure that material information relating to the Registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this annual report is being prepared. b) evaluated the effectiveness of the Registrant's disclosure controls and procedures as of a date within 90 days prior to the filing date of this annual report (the "Evaluation Date"); and c) presented in this annual report our conclusions about the effectiveness of the disclosure controls and procedures based on our evaluation as of the Evaluation Date; 5. The Registrant's other certifying officers and I have disclosed, based on our most recent evaluation, to the Registrant's auditors and the audit committee of Registrant's board of directors (or persons performing the equivalent functions): a) all significant deficiencies in the design or operation of internal controls which could adversely affect the Registrant's ability to record, process, summarize and report financial data and have identified for the Registrant's auditors any material weaknesses in internal controls; and b) any fraud, whether or not material, that involves management or other employees who have a significant role in the Registrant's internal controls; and 6. The Registrant's other certifying officers and I have indicated in this annual report whether there were significant changes in internal controls or in other factors that could significantly affect internal controls subsequent to the date of our most recent evaluation, including any corrective actions with regard to significant deficiencies and material weaknesses. Date: March 27, 2003 /s/ Joseph J. Ross Joseph J. Ross Chairman and Chief Executive Officer CFO Certification under Section 302 of the Sarbanes-Oxley Act I, Stephanie K. Kushner, certify that: 1. I have reviewed this annual report Form 10-K of Federal Signal Corporation; 2. Based on my knowledge, this annual report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this annual report; 3. Based on my knowledge, the financial statements and other financial information included in this annual report, fairly present in all material respects the financial condition, results of operations and cash flows of the Registrant as of, and for, the periods presented in this annual report. 4. The Registrant's other certifying officers and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-14 and 15d-14) for the Registrant and have: a) designed such disclosure controls and procedures to ensure that material information relating to the Registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this annual report is being prepared. b) evaluated the effectiveness of the Registrant's disclosure controls and procedures as of a date within 90 days prior to the filing date of this annual report (the "Evaluation Date"); and c) presented in this annual report our conclusions about the effectiveness of the disclosure controls and procedures based on our evaluation as of the Evaluation Date; 5. The Registrant's other certifying officers and I have disclosed, based on our most recent evaluation, to the Registrant's auditors and the audit committee of Registrant's board of directors (or persons performing the equivalent functions): a) all significant deficiencies in the design or operation of internal controls which could adversely affect the Registrant's ability to record, process, summarize and report financial data and have identified for the Registrant's auditors any material weaknesses in internal controls; and b) any fraud, whether or not material, that involves management or other employees who have a significant role in the Registrant's internal controls; and 6. The Registrant's other certifying officers and I have indicated in this annual report whether there were significant changes in internal controls or in other factors that could significantly affect internal controls subsequent to the date of our most recent evaluation, including any corrective actions with regard to significant deficiencies and material weaknesses. Date: March 27, 2003 /s/ Stephanie K. Kushner Stephanie K. Kushner Vice President and Chief Financial Officer SCHEDULE II FEDERAL SIGNAL CORPORATION AND SUBSIDIARIES Valuation and Qualifying Accounts For the Years Ended December 31, 2002, 2001 and 2000 Deductions Additions Accounts Balance at Charged to written off Balance beginning costs and net of at end Description of year expenses recoveries of year ----------- -------- -------- --------- ------- Deducted from asset accounts - Allowance for doubtful accounts Year ended December 31, 2002: Manufacturing activities $2,355,000 $2,640,000 Financial service activities 1,005,000 1,002,000 --------- --------- Total $3,360,000 $2,290,000 $2,008,000 $3,642,000 Year ended December 31, 2001: Manufacturing activities $2,629,000 $2,355,000 Financial service activities 683,000 1,005,000 --------- --------- Total $3,312,000 $2,382,000 $2,334,000 $3,360,000 Year ended December 31, 2000: Manufacturing activities $2,901,000 $2,629,000 Financial service activities 976,000 683,000 --------- --------- Total $3,877,000 $881,000 $1,446,000 $3,312,000