Federal Signal Completes Sale of E-ONE

Aug. 5, 2008

OAK BROOK, Ill. , Aug. 5 /PRNewswire-FirstCall/ -- Federal Signal Corporation (NYSE: FSS), a leader in advancing security and well-being, today announced that it has completed the sale of E-ONE, a manufacturer of fire apparatus located in Ocala, Florida to American Industrial Partners for approximately $20 million, subject to normal working capital adjustments. The Company also completed the sale of an additional $18 million tranche of leases to Banc of America Public Capital Corp. Proceeds from these transactions will be used to pay down debt.

Jim Goodwin , interim president and CEO stated, "On behalf of Federal Signal's Board of Directors, I would like to thank the dedicated E-ONE employees for their many years of loyal service. I am confident that American Industrial Partners will be a valuable partner to E-ONE and will build upon the important progress made by Peter Guile and his team to improve the financial and operational performance of the business. We look forward to continuing to work with E-ONE as a supplier of lights and sirens, articulated aerial devices and other products."

About Federal Signal

Federal Signal Corporation (NYSE: FSS) enhances the safety, security and well-being of communities and workplaces around the world. Founded in 1901, Federal Signal is a leading global designer and manufacturer of products and total solutions that serve municipal, governmental, industrial and institutional customers. Headquartered in Oak Brook, Ill. , with manufacturing facilities worldwide, the Company operates three groups: Safety and Security Systems, Environmental Solutions and Fire Rescue. For more information on Federal Signal, visit: http://www.federalsignal.com.

SOURCE Federal Signal Corporation

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