PROSPECTUS SUPPLEMENT NO. 5 FILED PURSUANT TO RULE 424(B)(3) TO PROSPECTUS DATED JULY 9, 1998 REGISTRATION STATEMENT NO. 333-51873 FLEETWOOD CAPITAL TRUST 6% CONVERTIBLE TRUST PREFERRED SECURITIES (LIQUIDATION AMOUNT $50 PER CONVERTIBLE TRUST PREFERRED SECURITY) GUARANTEED TO THE EXTENT SET FORTH IN THE PROSPECTUS BY, AND CONVERTIBLE INTO COMMON STOCK OF, FLEETWOOD ENTERPRISES, INC. -------------- THE FOLLOWING INFORMATION SUPPLEMENTS, AND MUST BE READ IN CONNECTION WITH, THE INFORMATION CONTAINED IN THE PROSPECTUS, DATED JULY 9, 1998, OF FLEETWOOD CAPITAL TRUST AND FLEETWOOD ENTERPRISES, INC. THIS PROSPECTUS SUPPLEMENT MUST BE DELIVERED WITH A COPY OF THE PROSPECTUS. THE CAPITALIZED TERMS THAT ARE USED IN THIS PROSPECTUS SUPPLEMENT, BUT NOT OTHERWISE DEFINED, ARE DEFINED IN THE PROSPECTUS THE FOLLOWING INFORMATION COMPLETELY REPLACES THE INFORMATION PROVIDED IN THE PROSPECTUS UNDER THE CAPTION "SELLING SECURITYHOLDERS." ------------------------ SELLING SECURITYHOLDERS The following table sets forth, as of June 24, 1999: - the number of Preferred Securities beneficially owned and offered by each Selling Securityholder; - the percentage of Preferred Securities beneficially owned and offered by each Selling Securityholder; - the number of shares of Fleetwood Enterprises, Inc. common stock owned by each Selling Securityholder prior to the conversion of the Preferred Securities; and - the number of shares of Fleetwood Enterprises, Inc. common stock issuable upon conversion of the Preferred Securities. The Securities may be sold from time to time by the Selling Securityholders under this prospectus. NUMBER OF SHARES NUMBER OF NUMBER OF SHARES OF FLEETWOOD PREFERRED PERCENT OF OF FLEETWOOD ENTERPRISES, SECURITIES TOTAL ENTERPRISES, INC. INC. COMMON BENEFICIALLY OUTSTANDING COMMON STOCK STOCK ISSUABLE OWNED AND PREFERRED OWNED PRIOR TO UPON CONVERSION SELLING SECURITYHOLDERS OFFERED HEREBY SECURITIES CONVERSION (1) - ------------------------------------------------------- -------------- ------------------- ----------------- ---------------- AAM/Zazove Institutional Income Fund, L.P.............. 56,000 * -- 57,471 Aim Balanced Fund...................................... 90,000 1 -- 92,364 Allegheny Teledyne Inc. Pension Plan................... 55,700 * -- 57,163 Alpine Associates...................................... 45,700 * -- 46,900 Alpine Partners, L.P................................... 4,300 * -- 4,412 American Pioneer Life Insurance Co..................... 500 * -- 513 American Progressive Life & Health Ins. Co. Of New York.................................................. 500 * -- 513 American Public Entity Excess Pool..................... 500 * -- 513 American Republic Insurance Company.................... 7,000 * -- 7,183 Anthracite Mutual Fire Insurance Company............... 200 * -- 205 (CONTINUED ON NEXT PAGE) ------------------------ THE DATE OF THIS PROSPECTUS SUPPLEMENT IS JULY 9, 1999 NUMBER OF SHARES NUMBER OF NUMBER OF SHARES OF FLEETWOOD PREFERRED PERCENT OF OF FLEETWOOD ENTERPRISES, SECURITIES TOTAL ENTERPRISES, INC. INC. COMMON BENEFICIALLY OUTSTANDING COMMON STOCK STOCK ISSUABLE OWNED AND PREFERRED OWNED PRIOR TO UPON CONVERSION SELLING SECURITYHOLDERS OFFERED HEREBY SECURITIES CONVERSION (1) - ------------------------------------------------------- -------------- ------------------- ----------------- ---------------- Argent Classic Convertible Arbitrage Fund (Bermuda) L.P................................................... 35,700 * -- 36,637 Argent Classic Convertible Arbitrage Fund L.P.......... 74,300 1 -- 76,251 Arkansas PERS.......................................... 14,400 * -- 14,778 Associated Electric & Gas Insurance Services Limited... 20,000 * -- 20,525 Bancroft Convertible Fund, Inc......................... 40,000 * -- 41,050 Bank of America Convertible Securities Fund............ 6,000 * -- 6,157 BCS Life Insurance Company............................. 4,000 * -- 4,105 BNP Arbitrage SNC...................................... 3,000 * 3,120 3,078 Capital Market Transactions, Inc....................... 127,500 2 -- 130,849 Care America Life Insurance Company.................... 600 * -- 615 Catholic Mutual Relief Society of America.............. 3,500 * -- 3,591 Catholic Mutual Relief Society Retirement Plan & Trust................................................. 2,000 * -- 2,052 Catholic Relief Insurance Company of America........... 3,000 * -- 3,078 Chicago Mutual Insurance Company....................... 400 * -- 410 Chrysler Insurance Company............................. 30,000 * -- 30,788 Colgate-Palmolive Company Retirement Trust............. 28,400 * -- 29,146 Combined Insurance Company of America.................. 12,700 * -- 13,033 Commonwealth Dealers Life Insurance.................... 1,000 * -- 1,026 David Lipscomb University General Endowment............ 300 * -- 307 Dean Witter Convertible Securities Trust............... 50,000 * -- 51,313 Denver Art Museum Foundation........................... 7,600 * -- 7,799 Deutsche Bank A.G...................................... 318,500 5 -- 326,867 El Pomar Foundation.................................... 2,000 * -- 2,052 Ellsworth Convertible Growth & Income Fund, Inc........ 40,000 * -- 41,050 Equi-Select Ser Growth & Income Fund................... 45,000 * -- 46,182 Equitable Life Assurance Separate Account - Balanced... 600 * -- 615 Equitable Life Assurance Separate Account Convertibles.......................................... 11,200 * -- 11,494 Equity Income Fund..................................... 58,000 1 -- 59,523 Finance Factors Limited................................ 5,200 * -- 5,336 First Mercury Syndicate................................ 2,000 * -- 2,052 Flag Investors Value Builder Fund...................... 40,000 * -- 41,050 Frederic C. Hamilton................................... 11,760 * -- 12,068 2 NUMBER OF SHARES NUMBER OF NUMBER OF SHARES OF FLEETWOOD PREFERRED PERCENT OF OF FLEETWOOD ENTERPRISES, SECURITIES TOTAL ENTERPRISES, INC. INC. COMMON BENEFICIALLY OUTSTANDING COMMON STOCK STOCK ISSUABLE OWNED AND PREFERRED OWNED PRIOR TO UPON CONVERSION SELLING SECURITYHOLDERS OFFERED HEREBY SECURITIES CONVERSION (1) - ------------------------------------------------------- -------------- ------------------- ----------------- ---------------- Frontier Insurance Company............................. 5,000 * -- 5,131 Gleneagles Fund Company................................ 17,100 * -- 17,549 Golden Rule Insurance Company.......................... 57,960 1 -- 59,482 Guarantee Trust Life Insurance Co...................... 7,000 * -- 5,131 Guaranty Income Life Ins. Company...................... 5,000 * -- 7,183 Hamilton Family Trust.................................. 4,840 * -- 4,967 Highmark Convertible Securities Fund................... 10,000 * -- 10,262 HSBC Securities Inc.................................... 42,000 * -- 43,103 Hudson River Trust Balanced Account.................... 6,100 * -- 6,260 Hudson River Trust Growth & Income Account............. 9,300 * -- 9,544 Hudson River Trust Growth Investors.................... 5,000 * -- 5,131 ICI American Holdings Trust............................ 3,900 * -- 4,002 Integrity Mutual Insurance Company..................... 2,000 * -- 2,052 JP Morgan Securities Incorporated...................... 13,100 * -- 13,444 Key Asset Management, Inc. as Investment Manager for the Potlatch-First Trust Co of St. Paul............... 2,400 * -- 2,463 Key Asset Management, Inc. as Investment Manager for the University of So. Florida Fdn..................... 700 * -- 718 Key Asset Management, Inc. as Agent for the Key Tr. Convertible Sec. Fd................................... 1,448 * -- 1,486 Key Asset Management, Inc. as Agent for the EB Convertible Sec. Fd................................... 5,900 * -- 6,054 Key Asset Management, Inc. as Agent for the Field Fdn of Illinois........................................... 300 * -- 307 Key Asset Management, Inc. as Agent for the GenCorp Fdn................................................... 500 * -- 513 Key Asset Management, Inc. as Agent for the Charitable Sec. Fd............................................... 4,952 * -- 5,082 Key Asset Management, Inc. as Investment Manager for the Health Foundation of Greater Cincinnati........... 9,100 * -- 9,339 Key Asset Management, Inc., as Investment Manager for the University of South Florida Foundation #2......... 1,500 * -- 1,539 Lehman Brothers Inc. .................................. 600 * -- 615 Liberty View Plus Fund................................. 10,000 * -- 10,262 Lone Star Life Insurance Co............................ 10,000 * -- 10,262 Lord Abbett & Co....................................... 3,200 * -- 3,284 Lord Abbett Bond - Debenture Fund, Inc................. 95,800 1 -- 98,316 Mark IV Industries, Inc. and Subsidiaries Master Trust................................................. 14,930 * -- 15,322 3 NUMBER OF SHARES NUMBER OF NUMBER OF SHARES OF FLEETWOOD PREFERRED PERCENT OF OF FLEETWOOD ENTERPRISES, SECURITIES TOTAL ENTERPRISES, INC. INC. COMMON BENEFICIALLY OUTSTANDING COMMON STOCK STOCK ISSUABLE OWNED AND PREFERRED OWNED PRIOR TO UPON CONVERSION SELLING SECURITYHOLDERS OFFERED HEREBY SECURITIES CONVERSION (1) - ------------------------------------------------------- -------------- ------------------- ----------------- ---------------- Mary Ann Hamilton...................................... 3,080 * -- 3,160 Memphis Light, Gas & Water Retirement Fund............. 5,800 * -- 5,952 Merrill Lynch Convertible Fund, Inc.................... 25,000 * -- 25,656 Merrill Lynch ECS Convertible Securities Portfolio..... 5,000 * -- 5,131 Merrill Lynch Insurance Group.......................... 5,000 * -- 5,131 Merrill Lynch, Pierce, Fenner & Smith Inc.............. 70,000 1 -- 71,838 Merrill Lynch World Income Fund, Inc................... 10,000 * -- 10,262 Michigan Mutual Insurance Company...................... 20,000 * -- 20,525 Midwest Security Life.................................. 2,000 * -- 2,052 Midwestern National Life Ins. Co. of Ohio.............. 3,000 * -- 3,078 Millers Mutual Fire Ins. Co............................ 12,000 * -- 12,315 Milville Mutual Insurance Company...................... 600 * -- 615 Mount Sinai School of Medicine......................... 9,060 * -- 9,298 NationsBanc Montgomery Securities LLC.................. 30,000 * 3,100 5,131 New Castle Mutual Ins. Co.............................. 500 * -- 513 New Vernon Advisors, Inc............................... 3,650 * -- 3,745 New York Life Insurance & Annuity Corporation.......... 40,000 * -- 41,050 New York Life Insurance Company........................ 90,000 1 -- 92,364 Occidental Petroleum................................... 1,000 * -- 1,026 Ohio Bureau of Workers Compensation.................... 5,000 * -- 5,131 Ohio National, Inc., Growth & Income Portfolio......... 5,000 * -- 5,131 Olin Foundation........................................ 1,020 * -- 1,046 Oppenheimer Convertible Securities Fund................ 100,000 1 -- 102,627 Ozark National Life Ins. Co............................ 9,000 * -- 9,236 Pacific Horizon Capital Income Fund.................... 89,600 1 -- 91,953 Pacific Innovations Trust Capital Income Fund.......... 4,800 * -- 4,926 Palladin Overseas Fund Ltd............................. 6,800 * -- 6,978 Park Avenue Life....................................... 8,000 * -- 8,210 PHICO Insurance Co..................................... 2,800 * -- 2,873 Phoenix Home Life General Account...................... 4,200 * -- 4,310 Police and Firemen's Insurance Assn.................... 700 * -- 718 PRIM Board............................................. 20,500 * -- 21,038 Reassurance Company of Hannover........................ 3,500 * -- 3,591 Reserve Convertible Securities Fund.................... 7,500 * -- 7,697 Salomon Brothers Asset Management, Inc................. 75,000 1 -- 76,970 4 NUMBER OF SHARES NUMBER OF NUMBER OF SHARES OF FLEETWOOD PREFERRED PERCENT OF OF FLEETWOOD ENTERPRISES, SECURITIES TOTAL ENTERPRISES, INC. INC. COMMON BENEFICIALLY OUTSTANDING COMMON STOCK STOCK ISSUABLE OWNED AND PREFERRED OWNED PRIOR TO UPON CONVERSION SELLING SECURITYHOLDERS OFFERED HEREBY SECURITIES CONVERSION (1) - ------------------------------------------------------- -------------- ------------------- ----------------- ---------------- Salomon Smith Barney Inc............................... 15,000 * -- 15,394 Service Life and Casualty Ins. Company................. 500 * -- 513 Service Lloyds Insurance Company....................... 500 * -- 513 Shell Pension Trust Fund............................... 1,000 * -- 1,026 State of Delaware PERS................................. 9,300 * -- 9,544 Susquehanna Capital Group.............................. 16,395 * -- 16,825 Tennessee Consolidated Retirement System............... 55,000 * -- 56,444 Texas Builders Insurance Company....................... 1,500 * -- 1,539 The Frist Foundation................................... 1,500 * -- 1,539 The Guardian Life Insurance Company of America......... 358,000 6 -- 367,404 The Guardian Master Pension Trust...................... 12,000 * -- 12,315 Toronto Dominion (New York), Inc....................... 112,500 1 -- 115,455 UBS A.G. London Branch................................. 75,400 1 -- 77,380 University of Virginia Health Services................. 1,000 * -- 1,026 Washington International Insurance Co.................. 2,200 * -- 2,257 Wisconsin Mutual Ins. Co............................... 2,000 * -- 2,052 Zeneca Holdings Trust.................................. 3,900 * -- 4,002 - ------------------------ * Less than one percent. (1) The number of shares of Fleetwood Enterprises, Inc. common stock issuable upon conversion of the Preferred Securities and offered under this prospectus was determined using the initial conversion rate of 1.02627 shares of Fleetwood Enterprises, Inc. common stock for each Preferred Security. 5 Unless otherwise indicated, none of the Selling Securityholders has, or within the past three years has had, any position, office or other material relationship with Fleetwood Enterprises, Inc., Fleetwood Capital Trust or any of their affiliates. Because the Selling Securityholders may, under this prospectus, sell all or some portion of the Preferred Securities, no estimate can be given as to the amount of the Securities that will be held by the Selling Securityholders after the sales have been completed. In addition, the Selling Securityholders identified above may have sold, transferred or otherwise disposed of all or a portion of their Securities after the date on which they provided the information regarding their Securities. See "Plan of Distribution." The Preferred Securities were originally issued by Fleetwood Capital Trust in a private placement on February 10, 1998 to an initial purchaser. The Preferred Securities were subsequently sold by the initial purchaser, in transactions exempt from the registration requirements of the Securities Act of 1933, to persons reasonably believed by the initial purchaser to be "qualified institutional buyers" (as defined in Rule 144A under the Securities Act of 1933) or to "accredited investors." Generally, only Selling Securityholders identified in the foregoing table may sell Securities under the Registration Statement, of which this prospectus forms a part. Fleetwood Enterprises, Inc. and Fleetwood Capital Trust may from time to time include additional Selling Securityholders in supplements or amendments to this prospectus. 6