FLEETWOOD REPORTS PLAN TO SELL
HOUSING RETAIL AND FINANCE BUSINESSES

Fleetwood Retail Corp. and HomeOne Credit Corp.
Expected to Be Sold Within One Year

Riverside, Calif., April 5, 2005 - Fleetwood Enterprises, Inc.
(NYSE:FLE), one of the nation's leading manufacturers of recreational
vehicles and manufactured housing, today announced that its Board of
Directors has authorized management to sell the manufactured housing
retail and financial services businesses. Fleetwood said its board and
management remain committed to the wholesale (manufacturing) division
of its Housing Group.

The Company said management has been authorized to pursue the exit plan
in an orderly fashion over the course of the next 12 months. Offers
will be solicited for both businesses combined or as separate complete
entities; however, in order to maximize the value to the Company's
shareholders, Fleetwood said it will consider offers from multiple
buyers for the individual operations.

"We are taking this action in order to stem losses and concentrate our
attention on our core businesses," said President and Chief Executive
Officer Elden L. Smith. "We are convinced that returning Fleetwood to
its traditional focus on manufacturing operations and wholesale
distribution channels in both our manufactured housing and in our
recreational vehicle businesses provides us with the best opportunity
to regain our former position as the industry leader in both. It is our
hope that FRC and HomeOne can be sold to one buyer to minimize the
disruption to the associates at those companies, but we cannot judge
the likelihood of that possibility at this time.

"In addition, our ongoing evaluation of our organization has led us to
reconsolidate adjacent manufactured housing plants in both Alma, Ga.,
and Waco, Texas, in order to achieve greater efficiencies," Smith
continued. "By combining these operations, we will experience
immediately improved capacity utilization."

Fleetwood estimates that, as a result of the planned sale of Fleetwood
Retail Corp. and HomeOne Credit Corp., it may be necessary to write
down certain long-lived assets and the value of retail housing
inventory, as well as to revalue its loan portfolio to the lower of
cost or market, in the fourth quarter and in subsequent periods, but at
this time it is unable to estimate a range of amounts for those
charges. The Company also disclosed that it expects to incur other
costs, charges and cash expenditures in subsequent periods as a result
of the implementation of the exit plan, including contract termination
costs, termination benefits, and gains or losses upon disposal. The
Company said it is unable to estimate the range of those costs, charges
or expenditures, which could vary widely

(more)
depending on the terms of any specific purchase and sale agreements and
on the successful execution of the exit strategy. The Company expects,
however, that these costs, charges and expenditures will be
substantial. These costs, as well as the ongoing financial results for
the retail and financial services businesses, will be accounted for as
discontinued operations effective with the fourth fiscal quarter.

About Fleetwood

Fleetwood Enterprises, Inc., is one of the nation's largest producers
of recreational vehicles, from motor homes to travel and folding
trailers, and is a leader in the building, retailing and financing of
manufactured homes. This Fortune 1000 company, headquartered in
Riverside, Calif., is dedicated to providing quality, innovative
products that offer exceptional value to its customers. Fleetwood
operates facilities strategically located throughout the nation,
including recreational vehicle and manufactured housing plants, retail
home centers, and supply subsidiary plants. For more information, visit
the Company's website at www.fleetwood.com.
This press release contains certain forward-looking statements and
information based on the beliefs of Fleetwood's management as well as
assumptions made by, and information currently available to,
Fleetwood's management. Such statements reflect the current views of
Fleetwood with respect to future events and are subject to certain
risks, uncertainties, and assumptions, including risk factors
identified in Fleetwood's 10-K and other SEC filings. These risks and
uncertainties include, without limitation, the cyclical nature of both
the manufactured housing and recreational vehicle industries; ongoing
weakness in the manufactured housing market; continued acceptance of
the Company's products; the potential impact on demand for Fleetwood's
products as a result of changes in consumer confidence levels; the
effect of global tensions on consumer confidence; expenses and
uncertainties associated with the introduction and manufacturing of new
products; the future availability of manufactured housing retail
financing, as well as housing and RV wholesale financing; exposure to
interest rate and market changes affecting certain of the Company's
assets and liabilities; availability and pricing of raw materials;
changes in retail inventory levels in the manufactured housing and
recreational vehicle industries; competitive pricing pressures; the
ability to attract and retain quality dealers, executive officers and
other personnel; and the Company's ability to obtain financing needed
in order to execute its business strategies.
# # #