LIBERTY CORNER, N.J., Jan. 2 /PRNewswire-FirstCall/ -- Fedders Corporation a leading global manufacturer of air treatment products, including air conditioners, furnaces, air cleaners, dehumidifiers and humidifiers for residential, commercial and industrial markets, today announced that on December 29, 2006 it sold 182 acres of undeveloped land in Frederick, Maryland to a Maryland-based investor group for $4.5 million. As part of the contract, the investor group has also agreed to purchase from Fedders, for $6 million, a building and approximately 28 acres of land, subject to a study period, which expires on March 31, 2007.
This news release may include forward-looking statements that are covered under the "Safe-Harbor" clause of the Private Securities Litigation Reform Act of 1995. Such statements are based upon current expectations and assumptions. Actual results could differ materially from those currently anticipated as a result of known and unknown risks and uncertainties including, but not limited to, weather and economic, political, market and industry conditions and reliance on key customers. Such factors are described in Fedders' SEC filings, including its most recently filed annual report on Form 10-K. The company disclaims any obligation to update any forward-looking statements to incorporate developments occurring after release of this announcement. Visit the Fedders investor information website at http://www.fedders.com/ to access additional information on Fedders.
