Federal Signal 8K to present at Goldman Sachs Capital Goods Conference | FSS 1 Nov 06

REGENCY TOWERS, 1415 W. 22ND ST., OAK BROOK, ILLINOIS 60523

FOR IMMEDIATE RELEASE

INVESTOR CONTACT
Dave Janek
(630) 954-2000

MEDIA CONTACT
John Segvich
(630) 954-2000

Federal Signal to present at Goldman Sachs Capital Goods Conference

OAK BROOK, Ill., November 1, 2006 — Federal Signal Corporation (NYSE: FSS) announced today that Robert D. Welding, president and chief executive officer, and Stephanie K. Kushner, vice president and chief financial officer, will speak to investors at the Goldman Sachs Capital Goods Conference in New York City on Wednesday, November 1, 2006.

Investors will be able to access the presentation from http://www.federalsignal.com on Wednesday, November 1, 2006. The presentation will also be filed as Form 8-K.

About Federal Signal Corporation

Federal Signal Corporation (NYSE: FSS) is a global leader in advancing security and well-being for communities and workplaces around the world. The company manufactures a broad range of safety and signaling products, and fire rescue and environmental vehicles that help protect people, property and the environment. Federal Signal’s leading brands include Bronto(R), Elgin(R), E-ONE(R), Federal APD(R), Federal Signal(R), Guzzler(R), Jetstream(R) and Vactor(R). In addition, Federal Signal operates a consumable industrial tooling business that includes the leading CLAPPDiCO(R), Dayton Progress(R), Manchester(R) and PCS(R) brands. Federal Signal was founded in 1901 and is based in Oak Brook, Illinois. To learn more about Federal Signal Corporation visitwww.federalsignal.com.

Safe Harbor

This presentation contains various forward-looking statements as of the date hereof and the Company undertakes no obligation to update these statements regardless of new developments or otherwise. Statements in this presentation that are not historical are forward-looking statements. These risks and uncertainties, some of which are beyond the company’s control, include the cyclical nature of the company’s industrial and municipal markets, technological advances by competitors, the Company’s ability to improve its operating performance, risks associated with the execution of planned plant closures, increased warranty and product liability expenses, risks associated with supplier and other partner alliances, changes in cost competitiveness including those resulting from foreign currency movements, disruptions in the supply of parts or components from sole source suppliers and subcontractors, retention of key employees and general changes in the competitive environment.

November 1, 2006

Investment Appeal

Strong brands

Diverse markets

Improving margins

Strengthening balance sheet

Growth opportunities –self funding

Economic Value key performance measurement

New vision focused on sustainable profitable growth

FSS Overview

Key Statistics

5,500 employees$1.2 billion in revenue

Stock trades on NYSE as FSS

Key Competitive Advantages

Rich 100+ year history of product leadership

Strong brand recognition: #1 or #2 in most markets

High-priority products in municipal and industrial markets

Well developed distribution channels Disciplined, focused management team

Federal Signal Today

Environmental Fire Safety

Tool Products Rescue Products Group Group Group Group

$348 million $371 million $277 million $162 million * 2005 Revenues5

Market Diversity

Segment Revenues Customer Orders $1.2 billion $1.1 billion

Environmental U.S.-Industrial

Safety and Commercial Non-U.S. 30% 24% 27% 31%

Fire Rescue Tool 14% U.S.-Municipal 32% and Government 42%

2005

FSS Orders By Market Segment

45 40 35

30 6-month average ($ millions) 25 20

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep 03 03 03 03 03 03 03 03 03 03 03 03 04 04 04 04 04 04 04 04 04 04 04 04 05 05 05 05 05 05 05 05 05 05 05 05 06 06 06 06 06 06 06 06 06

US Municipal/Government US Industrial/Commercial Non-US

Foundation For a New Vision

PREVENT RESPOND RECOVER MAINTAIN

(An Incident) (To An Incident) (From An Incident) (Safe Conditions) Mine lighting Mine lighting Sewer cleaners Police PolicePEOPLEPolice Outdoor Warning Fire rescue vehicles Systems SweepersAmber Integrated Warning Parking systems Systems Sewer cleaners Police Police Water blastersPROPERTYPolice Fire rescue vehicles Vacuum trucksPROTECTParking systems Sweepers Outdoor Warning Vacuum trucks SweepersENVIRONMENTSystems Sewer cleaners Fire rescue vehicles Sewer cleaner

our vision The leader in advancing security and well-being for communities and workplaces around the world.

Our Mission We serve organizations that protect people, property and the environment.

We listen to customers and imagine ways to help them address emerging needs.

We create innovative solutions drawing upon the talent of our employees and a rich portfolio of products and services.

We deliver superior growth in economic value.

Municipal and Workplace Security and Well-Being

Product Leadership: Our Primary Strategic Thrust

A comprehensive enterprise strategy

Shapes every plan and decision we make

Colors the entire organization —from

competencies; to culture; to business priorities

Growth Strategies

Enabling Strategies

Safety Products Group —
Continued Growth

Emergency Electrical Parking Products Products Products ProductsLightbars, beacons, sirens and Beacons, horns, outdoor warning Gates, ticket dispensers, cash speakers sirens, communications systems, registers, card readers, software mining and marine hazardous area lighting

CustomersPolice and fire departments, Industrial plants, petrochemical Parking operators, airports, ambulance services, DOTs, plants, ship/rig builders, coal municipalities, shopping centers, utilities, tow truck operators mines, municipalities, nuclear &n bsp; universities, hospitals, hotels plants, military basesChannelsPolice and truck equipment Electrical wholesalers, catalog Parking equipment distributors, distributors, catalog houses, houses, OEMs, direct direct installers, OEMs, direct

CompetitorsWhelen, Code 3, Ecco Edwards/GE, Gaitronics/Hubbell, Amano, Ascom,

Crouse-Hinds/Cooper, Whelen Scheidt & Bachman, SkiData

Safety Products Group

Overview/Outlook

Sales vs. Operating Margin

Recent leadership change

350 20Solid market positions and financial

$ %

300 $277performance

$247 16

16.2%

25016.3% 12.9%New product development pipeline

13.5%12

200 $222

$205Global expansion

150

8“Whitespace”—large airport parking100systems, water/waste water
4management systems, integrated

0 0security systems, others to come

2004 2005 YTD YTD

3Q05 3Q06

Sales ($M)

Operating Margin (%)

* Includes a $6.7 M gain from product-line sales in Q305.

Fire Rescue Group —Accelerating

Rescue and Pumper ARFF Aerial Fire Homeland Security and Tanker Apparatus Apparatus ProductsCustom and Custom and commercial Apparatus designed for Aerial waterway, ladders, commercial rescues for pumpers and tankers for rapid attack and traditional and articulated command/ municipal and industrial intervention for aircraft or devices operation centers, markets airfield events bomb trucks, HazMat

CustomersCities, Counties, States, Cities, Counties, Airports and Cities, Counties, Federal Government States, Refineries Military Airbases States, RefineriesChannelsDealer Network Dealer Network Direct Sales Dealer Network and Direct SalesCompetitorsPierce / LDV, SVI, ALF Pierce, Rosenbauer, ALF Oshkosh, Rosenbauer ALF, Pierce, KME Rosenbauer

Fire Rescue Group

Overview/Outloo k

Sales vs. Operating Margin

$ 450Recognized brands and broad

19 %product offering

400 $361 $377
350 15Stable markets with growth300potential

250 $263 $261Established and expanding

200distribution
150 3

1.0%

-0.5%Improving economies of scale and

100-0.9%

-1market diversification

0-5.1%-5Growth opportunities for E-ONE2004-5.1% 2005 YTD YTDand Bronto apparatus

3Q05 3Q06

Operational improvements equate

Sales ($M)

to margin growth over time

Operating Margin (%)

Operating margin excludes adverse impact of restructuring cost

Fire Rescue Group
Continuous Improvement Update

Key performance indicators continue to show favorable trends —throughput, lead times, hours per unit, build quality, primary working capital, days sales outstanding, etc.

Cost-reduction initiatives — being realized, more to come

Margin growth from operational improvements and strategic transition

Strengthening, enabling and expanding distribution

EzOne configurator rollout — on-schedule, providing immediate benefits

Transforming product management/engineering to energize product leadership focus

Stable backlog with production essentially filled for 2006

E-ONE brand —loyal customer base, attracting new customers

Environmental Products Group —
Expanding Opportunities

Sweepers Vacuum Trucks — Vacuum Trucks — Water Blasters Municipal Industrial Products Street, parking lot Sewer and catch basin Vacuum loaders that clean Water blasters that and industrial cleaners, glycol recovery up industrial waste or clean and prepare sweepers vehicles, hydro recover and recycle industrial surfaces excavating vehicles valuable raw materialsCustomers

Contractors, cities, Contractors, cities, Industrial contractors, Industrial contractors, counties, states, counties, states, airports plants and rental houses plants and rental airports housesChannelsDealers, direct Dealers Direct Direct, distributors

CompetitorsSchwarze, Tymco, VacCon, Super Products, Super Products, GapVax, NLB, Gardner Denver, Allianz Clean Earth, Aquatech VacCon, Clean Earth Woma, Hammelman

Environmental Products Group

Overview/outlook:

Sales vs. Operating Margin

$ 400 16 %Certain Leach refuse assets sold

350

$348International growth opportunities300 12

$295 $297Federal Signal Shanghai won

2509.2%

8.5% its first order for refuse truck2008.6%$259 8 bodies for the local Chinese

8.3%

150market

100 4 50

0 0 2004 2005 YTD YTD

3Q05 3Q06

Sales ($M)

Operating Margin (%)

Tool Group —
Expanding Globally

Die & Mold Tooling Cutting Tools ProductsPunches, pins, Milling inserts, grooving components, retainers, inserts, cut-off tools, grooving matrices, mold bases tools, insert type drilling

CustomersAutomotive OEMs, Automotive OEMs, tier 1 injection molders, suppliers, small engine diecasters manufacturers, aerospace, pumps and compressors

ChannelsIndustrial distributors, Industrial distributors, direct industrial catalogs, directCompetitorsOME, Progressive, Kennametal, Sandvik, Iscar Misumi, Husky, Anchor Danly

Tool Group

Sales vs. Operating MarginOverview/outlook:

$ 200 20%New leadership focused on180profitable growth with increased

160 $162 16

$161NA market share

140
12010.3%12Global expansion

10.2% 10.4% 8.8%

100 $122 $122

80 8 60

40 4 20

0 0 2004 2005 YTD YTD

3Q05 3Q06

Sales ($M)

Operating Margin (%)

Financial Overview

2006 Outlook 2005 2006

Revenue Op Margin % Revenue Op Margin 3-5 Year Outlook

EPG 348 8.3% + 10-14% 8-9% Margin stable 8-9% FRG 371 0.9% + 3-4% <2.5% Gradual improvement to 9-10% SPG 277 16.3% + 9-10% 13-13.5% 2005 product-line gain — 2.5% modest margin upside Tool 162 10.3% Flat 9-10% Continued margin recoveryFSS 1157 6% + 6-8% 6-7% Target 10% operating margin

In Ten Years ... 15% ROIC Triple revenue Strong balance sheet

10% operating margin Commensurate share price

Federal Signal . . .

The leader in advancing security and well-being for

communities and workplaces around the world.

Advancing security and well-being every day.

Robert D. Welding President and CEO November 1, 2006

Safe Harbor

the company’s industrial and municipal markets, technological advances by competitors, the Company’s ability to improve its operating performance, risks associated with the execution of planned plant closures, increased warranty and product liability expenses, risks associated with supplier and other partner alliances, changes in cost competitiveness including those resulting from foreign currency movements, disruptions in the supply of parts or components from sole source suppliers and subcontractors, retention of key employees and general changes in the competitive environment. November 1, 2006

The Emerging Security Space

An uncertain world

A fragmented $60B global market

Growing at the rate of 8-9% per year

Customers desire integrated solutions... Federal Signal brings it all together

Federal Signal

Intelligent Municipal Security Solution

New Federal Signal Solutions

^hms^{orit Alg}^are^oftw

&^SCommand Video/Thermal& Control

Algorithms

Climate

& Software

Sensors CBNRE

Magnetic FieldAnalyze Prevent, Warn, Recover, Sense Respond Maintain Traditional Federal Signal Products

Federal Signal Integrated Security Systems

Customer Example

Qatargas

What Customers Want

Fail-safe communications for government and industrial installations

Technology

Self-healing fiber-optic ring

A scaleable, redundant network solution

Federal Signal All-Hazard Warning Systems

Customer Example

State of Washington

What Customers Want

Tsunami warning

Technology

Pre-recorded and live broadcasting capability

Activation and management via satellite

Federal Signal E-ONE Command and Control Vehicles

Customer Example

City of Chicago

What Customers Want

Mobile emergency operations

Highlights

State-of-the-art communications tools

A custom fully integrated truck body and chassis

Federal Signal Bronto Aerial Devices

Customer Example

Maes Hoogwerkers, Belgium

What Customers Want

Access to challenging industrial and rescue environments

Technology

Bronto product line can reach up to 331 feet

Remote diagnostics

The leader in advancing security and well-being for communities and workplaces around the world.

Federal Signal (FSS) 8-KFederal Signal to present at Goldman Sachs Capital Goods Conference

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