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                                                                   Exhibit 99.1

[Fleetwood Logo]
Fleetwood Enterprises, Inc.
3125 Myers Street
Riverside, CA 92503-5527
Contact:  Boyd R. Plowman, Senior Vice President-Finance (909) 351-3340
          Lyle Larkin, Vice President-Treasurer (909) 351-3535

                         FLEETWOOD ANNOUNCES $20 MILLION
                            PRIVATE EQUITY PLACEMENT

RIVERSIDE, CALIF., OCTOBER 26, 2001--Fleetwood Enterprises, Inc. (NYSE:FLE),
today announced that it has privately placed 2,209,945 restricted shares of
Common stock with Acqua Wellington Private Placement Fund, Ltd., for gross
proceeds of $20 million.

Fleetwood plans to use the proceeds of the transaction for general corporate
purposes.

The shares have not been registered under the Securities Act of 1933, as
amended, and may not be offered or sold in the United States absent
registration or an applicable exemption from registration requirements.
Fleetwood has agreed to register these shares for resale. This press release
does not constitute an offer of any securities for sale.

Acqua Wellington Asset Management Ltd. advises a family of funds targeted at
investment opportunities among mid-cap and small-cap companies in domestic
and global equity markets.

Fleetwood is the nation's largest manufacturer of recreational vehicles and a
leading producer and retailer of manufactured housing, with manufacturing
operations throughout the U.S. and in Canada.

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 INCLUDE, WITHOUT LIMITATION, FLEETWOOD'S PLANS
REGARDING THE USE OF THE PROCEEDS FROM THE TRANSACTION. 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 RISK
FACTORS INCLUDE, WITHOUT LIMITATION, CONTINUED WEAKNESS IN THE MANUFACTURED
HOUSING AND RECREATIONAL VEHICLE MARKETS, FLEETWOOD'S ABILITY TO SECURE
ADDITIONAL FINANCING ON FAVORABLE TERMS AND IN A TIMELY MANNER, THE
AVAILABILITY OF WHOLESALE AND RETAIL FINANCING IN THE FUTURE AND CHANGES IN
RETAIL INVENTORY LEVELS IN THE MANUFACTURED HOUSING AND RECREATIONAL VEHICLE
INDUSTRIES. ACTUAL RESULTS, EVENTS AND PERFORMANCE MAY DIFFER MATERIALLY.
READERS ARE CAUTIONED NOT TO PLACE UNDUE RELIANCE ON THESE FORWARD-LOOKING
STATEMENTS, WHICH SPEAK ONLY AS OF THE DATE HEREOF. FLEETWOOD UNDERTAKES NO
OBLIGATION TO RELEASE PUBLICLY THE RESULT OF ANY REVISIONS TO THESE
FORWARD-LOOKING STATEMENTS THAT MAY BE MADE TO REFLECT EVENTS OR
CIRCUMSTANCES AFTER THE DATE HEREOF OR TO REFLECT THE OCCURRENCE OF
UNANTICIPATED EVENTS.

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