COSTA MESA, Calif. - November 1, 2004 - Fedders Corporation, headquartered in Liberty Corner, N.J., has acquired Addison Products, a division of Heat Controller Inc. Transaction terms were not disclosed.

RSM EquiCo Capital Markets LLC, the broker-dealer subsidiary of RSM EquiCo, initiated the transaction, led the negotiations and acted as the exclusive financial advisor to Heat Controller Inc.

"Fedders Corporation acquired Addison Products as part of its strategy to increase its business in the central air conditioning and heating market," said Bob Byczek, senior managing director of RSM EquiCo's Chicago office. "The acquisition will enable the buyer to expand its existing line of products, while strengthening its market position and ensuring future growth."

About Addison Products

Founded in 1949, Addison Products designs and manufactures air conditioning products for commercial and institutional markets. The company's products include air source packaged units, condensing units, outdoor heat pumps, air handling units, vertical packaged units, water source heat pumps, 100 percent outside air units and water heating units. The company, which is based in Orlando, Fla., was acquired by Heat Controller in 1995 and has since operated as a separate division.

About Heat Controller Inc.

Heat Controller manufactures heating and air conditioning units for residential and commercial customers in Canada and the U.S. Its products include air conditioners, central air conditioning systems, dehumidifiers (sold under the Comfort-Aire brand name), gas-fired and oil-fired furnaces (sold under the Century brand name) and heat pumps. Heat Controller was founded in Ohio and moved its operations to Jackson, Mich. in 1955.

About Fedders Corporation

Fedders Corporation (NYSE: FJC) manufactures and markets worldwide air treatment products, including air conditioners, air cleaners, gas furnaces, dehumidifiers, humidifiers and thermal technology products. The company sells its products through retail chains, home improvement centers and distributors worldwide under brand names that include Fedders, Emerson Quiet Kool, Airtemp, and Maytag.

About RSM EquiCo, Inc.

RSM EquiCo is a global investment bank serving private middle-market companies throughout North America. With more than 400 professionals and support staff in North America and Europe, RSM EquiCo specializes in mergers, acquisitions, divestitures and capital raising for companies with up to $500 million in annual revenue. The firm is part of RSM McGladrey Inc., a business segment of H&R Block.