Cover Company Profile Financial Summary Letter to Shareholders Recreational Vehicles Review   Past   Present     Clear Product Success     Motor Home     Travel Trailer     Folding Trailer     Placement, Price, And Promotion   Future Manufactured Housing Review   Past   Present     Growing Market Share     Effective Operating Strategies     Focus On Financing     Outside Our Traditional Market   Future Fleetwood Products Ten-Year Summary of Selected Financial Data Five-Year History of Selected Segment Data Management's Discussion and Analysis Independent Report Consolidated Statements of Operations Consolidated Balance Sheets Consolidated Statements of Cash Flows Consolidated Statements of Changes... Notes to Consolidated Financial Statements Directors Officers Shareholder Information

Critical Accounting Policies Business Outlook Results of Operations Consolidated Results Fiscal Year 2004 Compared With Fiscal Year 2003 Consolidated Results Fiscal Year 2003 Compared With Fiscal Year 2002 Liquidity and Capital Resources Contracts and Commitments Off-Balance Sheet Arrangements New Accounting Pronouncements Quantitative and Qualitative Disclosures About Market Risk