Performance

The following graph summarizes the cumulative return* on our stock price compared to the S&P 600 Index and a group of our peers for the previous five years. There is no currently available published index of companies involved in the same businesses as ours. The peer group consists of the following companies: Cavalier Homes, Inc., Champion Enterprises, Inc., Coachmen Industries, Inc., Monaco Coach Corporation, National R.V. Holdings, Inc. (which has ceased to operate), Palm Harbor Homes, Inc., Skyline Corp., Thor Industries, Inc., and Winnebago Industries, Inc. The peer group contains the largest public companies in our industries, the performance of which investment analysts generally compare to our performance. None of these companies is truly comparable to us. Most are smaller, some are involved only in manufactured housing and others only in recreational vehicles and some own retail businesses and are vertically integrated. With respect to all companies in the peer group, we have weighted the returns of each company to reflect relative stock market capitalization at the beginning of the period.

COMPARISON OF 5 YEAR CUMULATIVE TOTAL RETURN*

Among Fleetwood Enterprises, Inc., The S&P Smallcap 600 Index And A Peer Group

* $100 invested on 4/27/03 in stock or 4/30/03 in index-including reinvestment of dividends. Indexes calculated on month-end basis.

	4/27/03				4/25/04				4/24/05				4/30/06				4/29/07				4/27/08
Fleetwood Enterprises, Inc		100.00				313.65				163.45				188.76				173.29				75.10
S&P Smallcap 600		100.00				139.94				154.54				203.05				218.58				198.81
Peer Group		100.00				203.44				170.41				229.83				199.37				133.76