News Releases

Federal Signal Corporation Announces Sale of Victor Lighting and Transtar Product Lines

OAK BROOK, Ill., July 19 /PRNewswire-FirstCall/ -- Federal Signal Corporation (NYSE: FSS) today announced the recent sale of the Victor Lighting and Transtar product lines of its subsidiary, Victor Products Ltd., to a UK subsidiary of Hubbell Incorporated. The product lines sold involve international electric code (IEC) lighting and associated electrical components primarily used in oil and gas offshore platforms and petrochemical facilities. In 2004, these product lines generated $11 million in revenue.

Victor Products Ltd., based in Newcastle, England, is a market leader in products for the mining industry and will continue to manufacture and distribute mining products from its locations in England, South Africa, and the United States.

Net cash proceeds from the sale of $12 million will be used to fund restructuring costs of $4 million and an additional voluntary UK pension contribution, and to reduce debt. The company will realize an after-tax gain, net of restructuring costs, of approximately $.13 per share on the transaction. After restructuring is completed, the transaction will be modestly accretive to Federal Signal.

Robert Welding, president and chief executive officer, stated, "The Victor Lighting and Transtar product lines have been part of our Safety Products Group since 1996, but are not core to our business, therefore they have been sold. This sale will allow Victor management to focus on the company's strengths as a leader in the mining industry. We appreciate the efforts of the employees who have contributed to the Victor Lighting and Transtar product lines over the years."

Federal Signal continues to manufacture and market national electric code (NEC) marine and oil and gas hazardous area lighting under the Pauluhn and NRL brands as these products are leaders within their specific market niche.

Federal Signal Corporation is a global manufacturer of leading niche products in four operating groups: environmental vehicles and related products, fire rescue vehicles, safety and signaling products, and consumable industrial tooling. Based in Oak Brook, Illinois, the company's shares are traded on the New York Stock Exchange under the symbol FSS.

SOURCE Federal Signal Corporation
07/19/2005
CONTACT: Stephanie K. Kushner of Federal Signal Corporation,
1-630-954-2020
/Web site: http://www.federalsignal.com
(FSS)