CHAMPION ENTERPRISES, INC. COMPUTATION OF EARNINGS PER SHARE Three Months Ended (in 000's, except per share amounts) Mar. 29,1997 Mar. 30,1996 EARNINGS Net Income $13,839 $13,742 SHARES USED FOR CALCULATING EARNINGS PER SHARE Average Shares Outstanding 48,058 47,608 Additional Shares Resulting from Assumed Exercise of Stock Options 1,615 1,634 ______ ______ Total 49,673 49,242 PER SHARE AMOUNTS Net Income $0.28 $0.28 NOTE: This calculation is submitted in accordance with Securities and Exchange Act of 1934 Release No. 9083.