Federal Signal (FSS) 8-K Regulation FD Disclosure

WELCOME 2007 Annual Meeting of Shareholders

Bob Welding
President and Chief Executive Officer April 24, 2007

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.

April 24, 2007

2006 Highlights

·Revenues up 8%

·Orders up 12%

·Operating income up 10%•$9 million of EV improvement

·Sale of Cutting Tools

·Acquisition of Codespear

·Initiated Federal Signal market re-positioning

Federal Signal positioned for sustained revenue and economic growth

Revenue Growth

$1,400

$1,200 $ thousands $1,000Continuing Operations$800

$600 $40

0 $200 $0

1986 1988 1990 1992 1994 1996 1998 2000 2002 2004 2006

7.5% CAGR 1986-2006

Sales and Earnings2003 2004 2005 2006

Sales$1,023 $1,024 $1,119 $1,212

EPS(continuing operations) .72 .13 .91 .72

Cash Flow from Operations$ 69.9 46.2 49.0 25.0 15.9 56.3 W/C + other 35.1 17.9

D & A

37.3 18.2 22.7

16.2 Net Inc. - -7 - -2.3 -4.6 -15.6 2003 2004 2005 2006

(in $ millions)

Economic Value Performance

$ in millions

8.3

-0.2

-11.6 -16.6 -21.0

-66.0

2001 2002 2003 2004 2005 2006

Strategies for Growth

Enabling Strategies

2007 PrioritiesContinue expansion in China

Launch initial operations in Eastern Europe

Expand comprehensive security solution offerings

One or two technology acquisitions

Recover share in fire apparatus N.A. market

Expand capacity at Vactor/Guzzler and Bronto

Outlook2007 2015

Revenue $1.3 B + $3.0 B Operating Margin 6-7 % 10% ROIC 9% + 15% Strong Balance Sheet            vvCommensurate Share Price            v            v

Vision

Federal Signal ...the leader in advancing security and well-being for communities

and workplaces around the world .