<SUBMISSION>
<ACCESSION-NUMBER>0000950152-07-008073
<TYPE>8-K
<PUBLIC-DOCUMENT-COUNT>3
<PERIOD>20071017
<ITEMS>2.02
<ITEMS>9.01
<FILING-DATE>20071018
<DATE-OF-FILING-DATE-CHANGE>20071018
<FILER>
<COMPANY-DATA>
<CONFORMED-NAME>CHAMPION ENTERPRISES INC
<CIK>0000814068
<ASSIGNED-SIC>2451
<IRS-NUMBER>382743168
<STATE-OF-INCORPORATION>MI
<FISCAL-YEAR-END>1225
</COMPANY-DATA>
<FILING-VALUES>
<FORM-TYPE>8-K
<ACT>34
<FILE-NUMBER>001-09751
<FILM-NUMBER>071179370
</FILING-VALUES>
<BUSINESS-ADDRESS>
<STREET1>2701 CAMBRIDGE COURT
<STREET2>STE 300
<CITY>AUBURN HILLS
<STATE>MI
<ZIP>48326
<PHONE>2483409090
</BUSINESS-ADDRESS>
<MAIL-ADDRESS>
<STREET1>2701 UNIVERSITY DRIVE
<STREET2>STE 300
<CITY>AUBURN HILLS
<STATE>MI
<ZIP>48326
</MAIL-ADDRESS>
</FILER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>k19469e8vk.htm
<DESCRIPTION>CURRENT REPORT, DATED OCTOBER 17, 2007
<TEXT>
<HTML>
<HEAD>
<TITLE>e8vk</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
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<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 1pt solid black; font-size: 1pt">&nbsp;</DIV>




<DIV align="center" style="font-size: 14pt; margin-top: 12pt"><B>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION</B>
</DIV>

<DIV align="center" style="font-size: 12pt"><B>WASHINGTON, DC 20549</B>
</DIV>

<DIV align="center" style="font-size: 18pt; margin-top: 12pt"><B>FORM 8-K</B>
</DIV>


<DIV align="center" style="font-size: 12pt; margin-top: 12pt"><B>CURRENT REPORT<BR>
Pursuant to Section&nbsp;13 or 15(d) of the<BR>
Securities Exchange Act of 1934</B>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><B>Date of report (Date of earliest event reported): October&nbsp;17, 2007</B></DIV>

<DIV align="center" style="font-size: 24pt; margin-top: 12pt"><B>Champion Enterprises, Inc.</B>
</DIV>

<DIV align="center" style="font-size: 10pt"><DIV style="width: 100%; border-bottom: 1px solid #000000; font-size: 1px">&nbsp;</DIV></DIV>


<DIV align="center" style="font-size: 10pt">(Exact Name of Registrant as Specified in Its Charter)</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 12pt">Michigan</DIV>

<DIV align="center" style="font-size: 10pt"><DIV style="width: 100%; border-bottom: 1px solid #000000; font-size: 1px">&nbsp;</DIV>
(State or Other Jurisdiction of Incorporation)</DIV>


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="48%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="48%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="center" valign="top">1-9751
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">38-2743168</TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="3" valign="top" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">(Commission File Number)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">(IRS Employer Identification No.)</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">2701 Cambridge Court, Suite&nbsp;300, Auburn Hills, Michigan
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">48326</TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="3" valign="top" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">(Address of Principal Executive Offices)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">(Zip Code)</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt">(248)&nbsp;340-9090</DIV>

<DIV align="center" style="font-size: 10pt"><DIV style="width: 100%; border-bottom: 1px solid #000000; font-size: 1px">&nbsp;</DIV></DIV>


<DIV align="center" style="font-size: 10pt">(Registrant&#146;s Telephone Number, Including Area Code)</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 12pt">Not Applicable</DIV>

<DIV align="center" style="font-size: 10pt"><DIV style="width: 100%; border-bottom: 1px solid #000000; font-size: 1px">&nbsp;</DIV>
(Former Name or Former Address, if Changed Since Last Report)</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy
the filing obligation of the registrant under any of the following provisions:
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="Wingdings">&#111;</FONT> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Written communications pursuant to Rule&nbsp;425 under the Securities Act (17 CFR 230.425)
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="Wingdings">&#111;</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Soliciting material pursuant to Rule&nbsp;14a-12 under the Exchange Act (17 CFR 240.14a-12)
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="Wingdings">&#111;</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pre-commencement communications pursuant to Rule&nbsp;14d-2(b) under the Exchange Act (17
CFR 240.14d-2(b))
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="Wingdings">&#111;</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pre-commencement communications pursuant to Rule&nbsp;13e-4(c) under the Exchange Act (17
CFR 240.13e-4(c))
</DIV>

<DIV style="width: 100%; border-bottom: 1pt solid black; margin-top: 10pt; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>





<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;2.02 Results of Operations and Financial Condition</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Due to technical difficulties during the October&nbsp;17, 2007 conference call hosted by Champion
Enterprises, Inc. (the &#147;Company&#148;) to discuss its third quarter financial results, callers initially
were not able to submit questions to the Company during the question and answer portion of the
call. After correcting the technical problems, the call was reconvened with many, although not
all, of the callers who initially participated in the call, and the normal question and answer
portion of the call was held. Accordingly, the Company has filed with this Form 8-K a complete
transcript of the conference call including the delayed question and answer portion of the call.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;9.01 Financial Statements and Exhibits</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;Exhibits
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="8%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="90%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="CENTER"><B>Exhibit</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">

<TD nowrap align="CENTER" style="border-bottom: 0px solid #000000"><B><u>Number</u></B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" style="border-bottom: 1px solid #000000"><B>Description</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">99.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Transcript of October&nbsp;17, 2007 Conference Call of Champion Enterprises, Inc. Discussing
Third Quarter Financial Results</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>SIGNATURES</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly
caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
</DIV>

<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left">CHAMPION ENTERPRISES, INC.<BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000" align="left">/s/ Phyllis A. Knight
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">Phyllis A. Knight, Executive Vice President and&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">Chief Financial Officer&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Date: October&nbsp;18, 2007

</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>EXHIBIT INDEX</B>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="8%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="90%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="CENTER"><B>Exhibit</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">

<TD nowrap align="CENTER" style="border-bottom: 0px solid #000000"><B><u>Number</u></B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" style="border-bottom: 1px solid #000000"><B>Description</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">99.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Transcript of October&nbsp;17, 2007 Conference Call of Champion Enterprises, Inc. Discussing
Third Quarter Financial Results</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>



<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>




</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>k19469exv99w1.htm
<DESCRIPTION>TRANSCRIPT OF OCTOBER 17, 2007 CONFERENCE CALL
<TEXT>
<HTML>
<HEAD>
<TITLE>exv99w1</TITLE>
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<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="right" style="font-size: 10pt; margin-top: 12pt">EXHIBIT 99.1
</DIV>


<DIV align="right" style="font-size: 10pt; margin-top: 12pt"><FONT style="font-variant: SMALL-CAPS"><B>Final Transcript</B></FONT>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><IMG src="k19469k1946901.gif" alt="(THOMSON STREETEVENTS LOGO)">
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Conference Call Transcript</B>

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>CHB &#151; Q3 2007 Champion Enterprises, Inc. Earnings Conference Call</B>

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Event Date/Time: Oct. 17. 2007 / 11:00AM ET</B>

</DIV>

<DIV align="center">
<TABLE style="font-size: 8pt" cellspacing="0" border="0" cellpadding="0" width="100%">
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    <TD width="21%">&nbsp;</TD>
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    <TD width="21%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD><!-- VRule -->
    <TD width="2%">&nbsp;</TD>
    <TD width="21%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD><!-- VRule -->
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    <TD width="21%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD><!-- VRule -->
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
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<TR style="font-size: 1px">
    <TD style="border-left: 1px solid #00339a; border-top: 1px solid #00339a; background:#00339a">&nbsp;</TD>
    <TD align="left" style="border-right: 1px solid #00339a; border-top: 1px solid #00339a; background:#00339a">&nbsp;</TD>
    <TD align="left" style="border-top: 1px solid #00339a">&nbsp;</TD>
    <TD colspan="1" align="left" style="border-top: 1px solid #00339a">&nbsp;</TD>
    <TD align="left" style="border-right: 1px solid #00339a; border-top: 1px solid #00339a">&nbsp;</TD>
    <TD align="left" style="border-top: 1px solid #00339a">&nbsp;</TD>
    <TD colspan="1" align="left" style="border-top: 1px solid #00339a">&nbsp;</TD>
    <TD align="left" style="border-right: 1px solid #00339a; border-top: 1px solid #00339a">&nbsp;</TD>
    <TD align="left" style="border-top: 1px solid #00339a">&nbsp;</TD>
    <TD colspan="1" align="left" style="border-top: 1px solid #00339a">&nbsp;</TD>
    <TD align="left" style="border-right: 1px solid #00339a; border-top: 1px solid #00339a">&nbsp;</TD>
    <TD align="left" style="border-top: 1px solid #00339a; color:ffffff; background:6B9A15">&nbsp;</TD>
    <TD valign="top" align="left" style="border-top: 1px solid #00339a; color:ffffff; background:6B9A15">&nbsp;</TD>
    <TD width="1%" style="border-right: 1px solid #00339a; border-top: 1px solid #00339a; color:ffffff; background:6B9A15">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" nowrap colspan="2" style="border-right: 1px solid #00339a; border-left: 1px solid #00339a; background:#00339a"><DIV style="margin-left:0px; text-indent:-0px; color:#ffffff; background:#00339a"><B>Thomson StreetEvents</B>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top" style="color:#00339a"><U>www.streetevents.com</U>
</TD>
    <TD style="border-right: 1px solid #00339a">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;
</TD>
    <TD style="border-right: 1px solid #00339a">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top" style="color:#00339a"><U>Contact Us</U>
</TD>
    <TD style="border-right: 1px solid #00339a">&nbsp;</TD>
    <TD style="color:ffffff; background:6B9A15">&nbsp;</TD>
    <TD align="center" valign="top" style="color:ffffff; background:6B9A15">
&nbsp;1</TD>
    <TD width="1%" style="border-right: 1px solid #00339a; color:ffffff; background:6B9A15">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD style="border-top: 1px solid #00339a">&nbsp;</TD>
    <TD align="left" style="border-top: 1px solid #00339a">&nbsp;</TD>
    <TD align="left" style="border-top: 1px solid #00339a">&nbsp;</TD>
    <TD colspan="1" align="left" style="border-top: 1px solid #00339a">&nbsp;</TD>
    <TD align="left" style="border-top: 1px solid #00339a">&nbsp;</TD>
    <TD align="left" style="border-top: 1px solid #00339a">&nbsp;</TD>
    <TD colspan="1" align="left" style="border-top: 1px solid #00339a">&nbsp;</TD>
    <TD align="left" style="border-top: 1px solid #00339a">&nbsp;</TD>
    <TD align="left" style="border-top: 1px solid #00339a">&nbsp;</TD>
    <TD colspan="1" align="left" style="border-top: 1px solid #00339a">&nbsp;</TD>
    <TD align="left" style="border-top: 1px solid #00339a">&nbsp;</TD>
    <TD align="left" style="border-top: 1px solid #00339a">&nbsp;</TD>
    <TD valign="top" align="left" style="border-top: 1px solid #00339a">&nbsp;</TD>
    <TD width="1%" style="border-top: 1px solid #00339a">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD colspan="13" valign="top" align="left"><SUP style="font-size: 85%; vertical-align: text-top">&#169;</SUP> 2007 Thomson Financial. Republished with permission. No part of this publication may be
reproduced or transmitted in any form or by any means without the prior written consent of Thomson
Financial.</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>



<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>


<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="right" style="font-size: 10pt; margin-top: 12pt"><FONT style="font-variant: SMALL-CAPS"><B>Final Transcript</B></FONT>
</DIV>

<P>
<DIV style="width: 100%; border: 1px solid black; padding: 5px;">



<DIV align="left" style="font-size: 10pt; margin-top: 1pt"><b>Oct.
17. 2007 / 11:00AM ET, CHB &#151; Q3 2007 Champion Enterprises, Inc.
Earnings Conference Call</b>
</DIV>
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>CORPORATE PARTICIPANTS</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Laurie Van Raemdonck</B><BR>
<I>Champion Enterprises, Inc. &#151; VP, IR</I>

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Phyllis Knight</B><BR>
<I>Champion Enterprises, Inc. &#151; CFO, EVP, Treasurer</I>

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Bill Griffiths</B><BR>
<I>Champion Enterprises, Inc. &#151; Chairman, President, CEO</I>

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>CONFERENCE CALL PARTICIPANTS</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>John Diffendal</B><BR>
<I>BB&#038;T Capital Markets &#151; Analyst</I>

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Jay McCanless</B><BR>
<I>FTN Midwest &#151; Analyst</I>

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Ian Zaffino</B><BR>
<I>Oppenheimer Funds &#151; Analyst</I>

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Kathryn Thomson</B><BR>
<I>Avondale Partners &#151; Analyst</I>

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Joe Plevelich</B><BR>
<I>Schneider Capital Management &#151; Analyst</I>

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>PRESENTATION</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Operator</B>

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Good morning and welcome to Champion Enterprises third quarter 2007 conference call. All
participants will be in a listen-only mode until the question and answer session of the call. This
call is being recorded at the request of Champion Enterprises. If anyone has any objections, you
may disconnect at this time. I would now like to turn the call over to Laurie Van Raemdonck, Vice
President of Investor Relations. Laurie, you may proceed.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Laurie Van Raemdonck </B><B><I>- Champion Enterprises, Inc. &#151; VP, IR</I></B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Thank you and welcome to Champion&#146;s third quarter 2007 conference call. Yesterday, the Company
issued its press release with the results for the quarter ended September&nbsp;29, 2007. A copy of the
release is available on our web site at www.championhomes.com and on many financial web sites. A
telephone replay of the call will be available approximately one hour after the conclusion of this
call and through October&nbsp;31, 2007. Replay information is available in our press release and will be
provided at the end of the call. A web cast replay will be available on our web site for 90&nbsp;days.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">This morning, we are joined by Bill Griffiths, Chairman, President and CEO; and Phyllis Knight,
Executive Vice President and CFO. They will make some initial remarks regarding our results and
current business trends, and then open the call to questions.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Also, as a reminder, comments made by the Company during this conference call may contain
forward-looking statements that involve risks and uncertainties. Listeners are cautioned that these
statements are only predictions and may differ materially from actual future events or results.
Please refer to the documents filed by Champion with the SEC, including, without limitation, its
reports on Forms 10-K and 10-Q, which identify important risk factors that could cause actual
results to differ from those contained in the forward-looking statements, including statements
regarding potential changes to the Company&#146;s capital structure, business strategies, financial
projections, backlogs, operational improvement initiatives, order rates, industry projections and
commercial modular opportunities. All forward-looking statements are based on information available
to Champion today and the Company assumes no obligation to update such statements.
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">
<DIV align="right" style="font-size: 10pt; margin-top: 12pt"><FONT style="font-variant: SMALL-CAPS"><B>Final Transcript</B></FONT>
</DIV>

<P>
<DIV style="width: 100%; border: 1px solid black; padding: 5px;">



<DIV align="left" style="font-size: 10pt; margin-top: 1pt"><b>Oct.
17. 2007 / 11:00AM ET, CHB &#151; Q3 2007 Champion Enterprises, Inc. Earnings Conference Call</b>
</DIV>
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 12pt">With that said, I would like to turn the call over to Phyllis Knight. Phyllis?
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Phyllis Knight </B><B><I>- Champion Enterprises, Inc. &#151; CFO, EVP, Treasurer</I></B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Thank you, Laurie. Good morning and welcome to our third-quarter conference call. To begin, I
will review our financial results in detail. Bill will then follow with comments on our results,
market conditions and strategy, then we will open the call to questions.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">We are pleased to report an improved third quarter today, where despite persistent downward
pressure from the US housing market, we were able to grow our revenues while improving our earnings
more dramatically. Champion&#146;s diversification strategy is working well as strong markets in the UK
and Canada are helping us to overcome the housing struggles here in the US.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Further, our liquidity position remains strong and we&#146;re working on a strategy to address our
capital structure which will allow us to put debt covenant pressures in the review mirror without
using our cash to pay down debt. We&#146;re doing this because continued growth and diversification are
at the forefront of our outgoing strategy and our cash resources are key to its execution.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Now onto the specifics for the quarter. Total revenues this quarter increased 3% to $357.7&nbsp;million
compared to $346.5&nbsp;million in the third quarter of 2006. Income from continuing operations before
income taxes increased 33% to $15.5&nbsp;million compared to $11.6&nbsp;million last year and net income for
the quarter increased 43% to $12.9&nbsp;million, or $0.17 per diluted share, compared to $9&nbsp;million, or
$0.12 per diluted share, in the prior year.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Turning to our segments, our North American manufacturing segment net sales totaled $260.4&nbsp;million
this quarter, a decrease of 11% as compared to last year&#146;s $293.4&nbsp;million after a 17% drop in unit
sales. HUD code and other segment revenues decreased 12% to $180&nbsp;million for the quarter, while
revenues from the sale of modular homes totaled $80&nbsp;million, down 10% from $89&nbsp;million a year ago.
Demand in western Canada remains strong, and as a result, our shipment of 441 Canadian manufactured
homes represents an increase of 38% over last year and 3% over last quarter.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The average selling price per modular unit increased to $77,000 compared to $68,400 last year and
$75,000 last quarter. The average HUD code unit was down slightly to $44,300 as compared to $45,900
last year and $45,400 last quarter.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Manufacturing segment income increased to $20.2&nbsp;million this quarter compared to last year&#146;s $19.6
million, resulting in an improved segment margin of 7.8% versus 6.7% last year. Segment income for
the third quarter of last year was reduced by an impairment charge of $1.2&nbsp;million related to a
plant closure. While our unit sales are down, this increase in overall profitability is in part a
result of our strict focus on capacity rationalization and engaging in profitable business which
provides an acceptable return on our capital.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Capacity utilization stood at approximately 60% again this quarter, the same as last quarter, but
down slightly from last year&#146;s third quarter rate of 64%. Our manufacturing segment backlogs at the
end of the quarter totaled $64&nbsp;million compared to $78&nbsp;million reported a year ago and $68&nbsp;million
last quarter. The year-over-year decline was caused by our Canadian operations where you may recall
our production allocation schedule was implemented during the fourth quarter last year, limiting
incoming order rates, and therefore backlogs, to a forward three-month period. US quarter-end
backlogs were 48% higher than a year ago despite lower incoming order rates as a result of our
prior plant closures and reduced work force levels, resulting in our remaining plants operating
more efficiently.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Our International segment had another record quarter. Sales grew to $85.3&nbsp;million compared to $30.9
million in the third quarter of 2006 and are on pace to likely surpass the guidance we&#146;ve
previously discussed of $250&nbsp;million for the full year. International segment income grew to $6.4
million for the quarter from $2&nbsp;million last year on increased sales and an improved segment margin
of 7.5% compared to 6.3% in the third quarter of 2006.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">International segment backlog continued to build with contracts and orders pending contracts under
framework agreements totaling approximately $275&nbsp;million at quarter end compared to last quarter&#146;s
$245&nbsp;million, sufficient to give us good visibility deep into 2008.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Our Retail segment reported revenues of $18.2&nbsp;million this quarter, compared to $31.4&nbsp;million in
the third quarter of 2006. Retail segment income was $0.7&nbsp;million for the quarter, flat to last
quarter, but down from $2.4&nbsp;million last year. The segment margin stood at 3.8% which was improved
over last quarter&#146;s 3.1% on lower sales, but was off from 7.7% last year. During the quarter, this
business continued to be affected by lower unit sales, difficult pricing comparisons, greater level
of aged inventory and pressures from the generally weak housing markets throughout
</DIV>

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    <TD colspan="13" valign="top" align="left">&#169; 2007 Thomson Financial. Republished with permission. No part of this publication may be
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\
<DIV style="font-family: 'Times New Roman',Times,serif">
<DIV align="right" style="font-size: 10pt; margin-top: 12pt"><FONT style="font-variant: SMALL-CAPS"><B>Final Transcript</B></FONT>
</DIV>

<P>
<DIV style="width: 100%; border: 1px solid black; padding: 5px;">



<DIV align="left" style="font-size: 10pt; margin-top: 1pt"><b>Oct.
17. 2007 / 11:00AM ET, CHB &#151; Q3 2007 Champion Enterprises, Inc. Earnings Conference Call</b>
</DIV>
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">California. While we fully expect the Retail segment to remain profitable, conditions in California
are still difficult, and as such, a substantial recovery for this segment is not likely in sight
for the next several quarters.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Turning to some other financial metrics, our net interest expense for the quarter totaled $3.9
million compared to $4.2&nbsp;million last year. Our general corporate expenses of $6.7&nbsp;million were
down $500,000 or 7% compared to $7.2&nbsp;million for the comparable quarter of 2006. Our income tax
expense for the quarter was flat with last year at $2.6&nbsp;million, but at a lower effective tax rate
of 16.7% compared to last year&#146;s rate of 22.3%.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The reduced tax rate was a result primarily of the impact of the announcement of the lower tax rate
going forward in the UK and its impact on our deferred tax liabilities. Our estimated effective tax
rate for the year, however, remained stable at approximately 19% before onetime items.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">We ended the quarter with $111.3&nbsp;million of cash, up $6.5&nbsp;million from $104.8&nbsp;million at the end of
the second quarter. While operating cash flow of $4.7&nbsp;million was less than we expected due to a
timing difference in collections in our International segment, we collected these receivables early
in October and as a result anticipate operating cash to improve next quarter. We&#146;ve generated close
to $30&nbsp;million of free cash flow year to date and remain optimistic that we&#146;ll surpass last year&#146;s
$42&nbsp;million of free cash flow for the full year.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Finally, an update on the financial covenants in our credit facility. Our leverage ratio at quarter
end as defined in the credit agreement improved to 4.1 times from 4.3 times last quarter, and our
interest coverage was 3.1 times, up from 2.9 times last quarter. Both ratios were well within the
current requirements, as amended. As I mentioned earlier, we do expect to take further action with
respect to our capital structure yet this year.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">So, with that, I&#146;ll turn the call over to Bill.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Bill Griffiths </B><B><I>- Champion Enterprises, Inc. &#151; Chairman, President, CEO</I></B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Thank you, Phyllis. As you all know by now, the US housing industry continues to be a tough
place to do business. Despite this, however, we are reporting a very respectable third quarter,
driven by two key elements of our strategy &#151; first, a substantial increase in revenues from our
Caledonian operations of 7.5% margins; and secondly, a substantial increase in North American
manufacturing segment margins to 7.8%. This improvement came about despite an 11% drop in revenues
and a 17% drop in unit volumes and was attained through efficiency initiatives and matching
capacity to current industry conditions.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Since the third quarter of last year, we have reduced our capacity by approximately 20%. All of our
employees in our manufacturing operations are to be congratulated as our internal operational
improvement initiatives continue to gain traction.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">As we have said before, improving our core operations is key to funding our overall strategy &#151;
growth through diversification. This diversification continues to show positive results. This
quarter, almost half of our revenues were non-HUD code with domestic modular accounting for 22% and
Caledonian 24%. We expect this trend to continue into the fourth quarter with Caledonian on track
to exceed their third quarter performance.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">We are also optimistic about our North American operations. While overall backlogs are $64&nbsp;million,
down slightly from the last quarter, our U.S. backlogs are up 48% compared to last year and flat to
last quarter. Modular now accounts for 54% of the backlog compared to 46% last year and 50% last
quarter. As Phyllis pointed out, the implied reduction in Canadian backlogs is as a result of the
policy change, not business conditions as in fact we expect continued strong performance from our
Canadian operations next quarter and into the foreseeable future.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">We are starting to see a normal seasonal decline in order rates, but this decline is nowhere near
as precipitous as it was last year. You will recall that this drop at the end of the third quarter
and the beginning of the fourth quarter last year was driven by a very rapid 40% decline in
industry shipments to California, Arizona and Florida. Since December of 2006, shipments to these
three states have flatlined at about 1250 units per month and we see no reason for any further
declines in these shipment numbers.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Conversely, Texas has shown steady improvement over this period and we have been encouraged by
relative strengthening in the Midwest and Northeast. As we said earlier in the year, we expected
the second half to be stronger than both last year and the first half of this year. Our third
quarter results demonstrate this trend and we anticipate the fourth quarter, although seasonally
lower, to follow a similar path. Our current order rates and our stronger backlog position should
result in a better fourth quarter than last year.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">We also expect to see improvement in 2008 in both our domestic residential modular and our HUD code
business, although growth in both segments is likely to be in the single-digit range as the U.S.
housing industry will likely struggle for another year. However, if California, Arizona
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">
<DIV align="right" style="font-size: 10pt; margin-top: 12pt"><FONT style="font-variant: SMALL-CAPS"><B>Final Transcript</B></FONT>
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<P>
<DIV style="width: 100%; border: 1px solid black; padding: 5px;">



<DIV align="left" style="font-size: 10pt; margin-top: 1pt"><B>Oct.
17. 2007 / 11:00AM ET, CHB &#151; Q3 2007 Champion Enterprises, Inc. Earnings Conference Call</B>
</DIV>
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">and Florida recover sooner as a result of a leveling of the playing field with respect to
financing, we could see a rapid double-digit improvement in shipments.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Such a HUD code recovery we view as pure upside, and as such, we will continue to actively pursue
diversification opportunities, both organically and through acquisitions. We are actively
considering opportunities to develop a larger commercial modular presence in the U.S., as well as
expanding our international footprint.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">This diversification strategy has served us well this year, and along with our operations
improvement initiatives has allowed us to post solid performance in what will go down in history as
one of the worst years ever in every segment of the US housing industry.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">And with that, I would now like to open the call for questions. Operator?
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>QUESTION AND ANSWER</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Operator</B>

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">(OPERATOR INSTRUCTIONS). John Diffendal, BB&#038;T Capital Markets.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Bill Griffiths </B><B><I>- Champion Enterprises, Inc. &#151; Chairman, President, CEO</I></B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Thanks for the patience. I apologize to everybody here for the technical problems. Hopefully
we can get enough people back on to get your questions.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>John Diffendal </B><B><I>- BB&#038;T Capital Markets &#151; Analyst</I></B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">I don&#146;t know who&#146;s going to be on, but &#151;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Bill Griffiths </B><B><I>- Champion Enterprises, Inc. &#151; Chairman, President, CEO</I></B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">There are 20 back on the call, apparently.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>John Diffendal </B><B><I>- BB&#038;T Capital Markets &#151; Analyst</I></B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Congratulations on the quarter, guys. Just a couple of things. Bill, you mentioned that
Caledonian looks to exceed the $250&nbsp;million, and I thought I heard you say that you thought it
would be similar to the third quarter. If they do $250&nbsp;million on a revenue basis, it would drop
off to like $61&nbsp;million. Are you saying that you expect the revenues to be similar in the fourth
quarter to the third? I seem to remember that it should build up into the March quarter.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Bill Griffiths </B><B><I>- Champion Enterprises, Inc. &#151; Chairman, President, CEO</I></B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Right. I said, in fact, that we expect their revenues &#091;virtually&#093; exceed last quarter&#146;s, which
would certainly put us beyond the $250&nbsp;million.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>John Diffendal </B><B><I>- BB&#038;T Capital Markets &#151; Analyst</I></B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Exceed Q3?
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Bill Griffiths </B><B><I>- Champion Enterprises, Inc. &#151; Chairman, President, CEO</I></B>
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">
<DIV align="right" style="font-size: 10pt; margin-top: 12pt"><FONT style="font-variant: SMALL-CAPS"><B>Final Transcript</B></FONT>
</DIV>

<P>
<DIV style="width: 100%; border: 1px solid black; padding: 5px;">



<DIV align="left" style="font-size: 10pt; margin-top: 1pt"><B>Oct.
17. 2007 / 11:00AM ET, CHB &#151; Q3 2007 Champion Enterprises, Inc. Earnings Conference Call</B>
</DIV>
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Yes.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>John Diffendal </B><B><I>- BB&#038;T Capital Markets &#151; Analyst</I></B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Okay, great. That would also seem &#151; I mean, I&#146;m trying to think about a run rate for next
year. Are they running pretty full out at the $80&nbsp;million plus number?
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Bill Griffiths </B><B><I>- Champion Enterprises, Inc. &#151; Chairman, President, CEO</I></B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Yes, and they will certainly go into the year at that run rate. Our expectation is that the
bubble of revenues caused by very high prison spending will start tapering off as we go through
next year. But as of right now, they do not have an immediate capacity limitation.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>John Diffendal </B><B><I>- BB&#038;T Capital Markets &#151; Analyst</I></B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Going back to domestic backlog, I remember on the last call, you all gave a data point saying
it was actually up about 14% from the close, which implied a sort of mid $70&nbsp;million number in late
July &#151; mid to late July. Can you give us &#151; and I assume it is, like you say, seasonally sliding
off a little bit. So is it falling off a little from where we are at the end of the quarter to
here?
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Bill Griffiths </B><B><I>- Champion Enterprises, Inc. &#151; Chairman, President, CEO</I></B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Yes, John, I don&#146;t actually have that data point in front of me. But, yes, as you would
expect, the order intake rates are starting to drop off. But I think the message is, at this point,
we&#146;re not seeing anything like we did last year. I would categorize this as a normal seasonal
decline and that, coupled with the relative strength of our backlogs this year compared to last
year, would lead you to believe we should have a better fourth quarter.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>John Diffendal </B><B><I>- BB&#038;T Capital Markets &#151; Analyst</I></B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Of course, one of the sort of the difficulties in these weaker quarters, especially the March
quarter, is trying to figure out that margin. That margin you generated was the kind of margin you
were generating in 2005 when your backlogs were in the $125&nbsp;million plus area.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Bill Griffiths </B><B><I>- Champion Enterprises, Inc. &#151; Chairman, President, CEO</I></B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Right, and you know, as we&#146;ve said, we&#146;ve been actively trying to match our capacity, not only
the physical manufacturing footprint but labor levels, throughput levels in each of the plants.
We&#146;re trying to match that as closely as we can to industry levels, even as they decline seasonally
as well.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>John Diffendal </B><B><I>- BB&#038;T Capital Markets &#151; Analyst</I></B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Right. So, I think you were like &#151; your margins last year was about 6% in the fourth quarter
and it obviously &#151; which should fall off. But you are expecting some improvement relative to last
year&#146;s number on margins.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Bill Griffiths </B><B><I>- Champion Enterprises, Inc. &#151; Chairman, President, CEO</I></B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Kind of hard to get pinned down on that one.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>John Diffendal </B><B><I>- BB&#038;T Capital Markets &#151; Analyst</I></B>
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">
<DIV align="right" style="font-size: 10pt; margin-top: 12pt"><FONT style="font-variant: SMALL-CAPS"><B>Final Transcript</B></FONT>
</DIV>

<P>
<DIV style="width: 100%; border: 1px solid black; padding: 5px;">



<DIV align="left" style="font-size: 10pt; margin-top: 1pt"><B>Oct.
17. 2007 / 11:00AM ET, CHB &#151; Q3 2007 Champion Enterprises, Inc. Earnings Conference Call</B>
</DIV>
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">That&#146;s fine. Just one last thing. On corporate expense rate, it did improve very nicely
sequentially and against last year. Can you give us some help &#151; when we get in the fourth quarter,
there may be some bonus adjustments, things that do that. Can you give us a sort of sense on what
that run rate might be going forward on the corporate expense line?
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Phyllis Knight </B><B><I>- Champion Enterprises, Inc. &#151; CFO, EVP, Treasurer</I></B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">John, I would guess that the fourth quarter will look more like the second quarter, kind of in
the mid $7&nbsp;million range, so likely up from what we just reported.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>John Diffendal </B><B><I>- BB&#038;T Capital Markets &#151; Analyst</I></B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Thank you and congratulations.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Operator</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Jay McCanless, FTN Midwest.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Jay McCanless </B><B><I>- FTN Midwest &#151; Analyst</I></B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">I wanted to clarify and talk about international a little bit more. Did I understand you
correctly that for fiscal 2008, should we expect roughly $80&nbsp;million plus or minus maybe $10
million in run rate revenues for each quarter of fiscal 2008? Is that what we should be expecting?
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Bill Griffiths </B><B><I>- Champion Enterprises, Inc. &#151; Chairman, President, CEO</I></B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">It&#146;s probably too &#151; we will certainly go into the year bracketing that number. I could be a
little less, could be a little more. But generally, that kind of run rate. We don&#146;t have enough
clarity for the second half of the year yet to be able to talk about that definitively.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Phyllis Knight </B><B><I>- Champion Enterprises, Inc. &#151; CFO, EVP, Treasurer</I></B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">I think, Jay, one of the things we have talked with you some about &#151; the prison business
gives us an extra nice kind of revenue pop, because we do a lot of the site work in that business
as well. So, if as we expect, as we get deeper into 2008, we&#146;re doing less prison business, because
that sort of extra spending we&#146;re taking advantage of now starts to taper off. As a result, we
replace the factory capacity with other types of products. We could well see a drop in the revenues
later in the year. So I wouldn&#146;t expect, as you get into third and fourth quarter next year, that
an $80&nbsp;million revenue rate is something you should count on.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Jay McCanless </B><B><I>- FTN Midwest &#151; Analyst</I></B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Okay. Is there any type of time-frame you all would be willing to attach to the $275&nbsp;million
in backlog right now? When do you expect &#151; if you didn&#146;t bring in anything from now until whenever
that runs out &#151; how long should we expect that $275&nbsp;million to run?
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Bill Griffiths </B><B><I>- Champion Enterprises, Inc. &#151; Chairman, President, CEO</I></B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Well, it will run certainly through next year, but because some of those contracts will likely
spill over even into the early part of 2009 on sort of a tapering-off basis. So, you shouldn&#146;t
think of it all as all sort of being in the next four quarters, necessarily.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Jay McCanless </B><B><I>- FTN Midwest &#151; Analyst</I></B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Then coming back to the States for a minute, if you exclude the four plants that I believe you
have supplying the Canadian code business, what do the backlogs look like at your other HUD and mod
facilities in weeks? Is it two weeks, three weeks? Where do we stand now?
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">
<DIV align="right" style="font-size: 10pt; margin-top: 12pt"><FONT style="font-variant: SMALL-CAPS"><B>Final Transcript</B></FONT>
</DIV>

<P>
<DIV style="width: 100%; border: 1px solid black; padding: 5px;">



<DIV align="left" style="font-size: 10pt; margin-top: 1pt"><B>Oct.
17. 2007 / 11:00AM ET, CHB &#151; Q3 2007 Champion Enterprises, Inc. Earnings Conference Call</B>
</DIV>
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Bill Griffiths </B><B><I>- Champion Enterprises, Inc. &#151; Chairman, President, CEO</I></B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Yes, it&#146;s &#151; I would say on average, it&#146;s a little under two weeks.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Jay McCanless </B><B><I>- FTN Midwest &#151; Analyst</I></B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Has that been slowing down as the quarter has gone along, or what is your sense of it? I mean,
normal seasonal slowdown, but do you think it&#146;s been accelerated beyond the seasonal trends?
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Bill Griffiths </B><B><I>- Champion Enterprises, Inc. &#151; Chairman, President, CEO</I></B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">No, the backlogs have remained fairly steady and pretty stagnant throughout the quarter
completely.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Jay McCanless </B><B><I>- FTN Midwest &#151; Analyst</I></B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Then my final question is about the credit facility. I know you discussed in your prepared
remarks that you&#146;re going to be addressing it sooner rather than later. Do you expect to add some
dry powder to that facility when you go to get it renegotiated?
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Phyllis Knight </B><B><I>- Champion Enterprises, Inc. &#151; CFO, EVP, Treasurer</I></B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">It&#146;s possible. It&#146;s maybe just a little bit too early to tell.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Jay McCanless </B><B><I>- FTN Midwest &#151; Analyst</I></B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Then, just as a follow-on to that, with the announcement that we saw from Origen yesterday, I
know that you all aren&#146;t in the securitization business, but should we read from that successful
securitization that bankers are more willing to talk to manufactured housing right now, that the
lending environment may be opening up and softening up a little bit for manufactured housing
companies?
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Phyllis Knight </B><B><I>- Champion Enterprises, Inc. &#151; CFO, EVP, Treasurer</I></B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Well, I really don&#146;t think the credit markets generally, at least as relates to Champion, are
any more difficult for us than they are for any other company right now, although I would say that
for a traditional builder, they are very difficult right now. But I don&#146;t expect difficultly in
convincing kind of the credit marketplace that we&#146;re not anything like a traditional site builder,
and therefore, won&#146;t be affected by the severe negatives that they are dealing with.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">So, I don&#146;t know that the Origen thing is any sign one way or the other. I think we will be looked
at in the credit markets like a manufacturer, and credit markets will kind of look at our results
and our free cash flows and not be focused &#151; we&#146;ll work hard to make sure they are not as focused
on thinking of us as a homebuilder per se. Did that answer your question?
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Jay McCanless </B><B><I>- FTN Midwest &#151; Analyst</I></B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Yes it does, thank you.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Operator</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Ian Zaffino, Oppenheimer Funds.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Ian Zaffino </B><B><I>- Oppenheimer Funds &#151; Analyst</I></B>
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">
<DIV align="right" style="font-size: 10pt; margin-top: 12pt"><FONT style="font-variant: SMALL-CAPS"><B>Final Transcript</B></FONT>
</DIV>

<P>
<DIV style="width: 100%; border: 1px solid black; padding: 5px;">



<DIV align="left" style="font-size: 10pt; margin-top: 1pt"><B>Oct.
17. 2007 / 11:00AM ET, CHB &#151; Q3 2007 Champion Enterprises, Inc. Earnings Conference Call</B>
</DIV>
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Good quarter. A couple of questions here. On the backlog, can you give us a little bit more
granularity as far as what regions had driven that backlog, and what the breakdown, I guess,
between manufactured and modular is? How much did each component drive it, and what are you seeing
as far as October rate orders etc. (multiple speakers)?
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Bill Griffiths </B><B><I>- Champion Enterprises, Inc. &#151; Chairman, President, CEO</I></B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The split at the end of the quarter was 56% mod &#151; sorry, 54% and 46% HUD.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Phyllis Knight </B><B><I>- Champion Enterprises, Inc. &#151; CFO, EVP, Treasurer</I></B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Of the US backlog.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Bill Griffiths </B><B><I>- Champion Enterprises, Inc. &#151; Chairman, President, CEO</I></B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Of the US only.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Ian Zaffino </B><B><I>- Oppenheimer Funds &#151; Analyst</I></B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Right, that&#146;s what I was talking about.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Bill Griffiths </B><B><I>- Champion Enterprises, Inc. &#151; Chairman, President, CEO</I></B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Which is a switch from last year, which was the reverse, at the end of last quarter was about
50%/50%. So, you could see in the US that the modular backlogs had been increasing as a percentage
of the total.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Phyllis Knight </B><B><I>- Champion Enterprises, Inc. &#151; CFO, EVP, Treasurer</I></B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">I would add in, I think it&#146;s fair to say that our backlogs in California and Florida remain
very, very low. So we really haven&#146;t seen any indication that business in either of those important
markets is really getting any better. It&#146;s stable. So, the backlogs are really in the rest of the
markets in the US.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Bill Griffiths </B><B><I>- Champion Enterprises, Inc. &#151; Chairman, President, CEO</I></B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">That&#146;s part of the reason I think you see the trend towards modular. It&#146;s as much as anything
that the most important HUD code states are still pretty flat.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Ian Zaffino </B><B><I>- Oppenheimer Funds &#151; Analyst</I></B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">When you said that there&#146;s no reason to see declines in shipments, that was in California,
Florida and Arizona, or that was &#151;?
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Bill Griffiths </B><B><I>- Champion Enterprises, Inc. &#151; Chairman, President, CEO</I></B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Right. In those three states. If you actually plot the shipment numbers of those three states
combined for the last 18&nbsp;months, you will see a very rapid decline starting in September, October
and November of last year. Then it reached a level in December and really hasn&#146;t changed since
December of last year. It&#146;s been flatlined at about 1,250 units a month for the three combined.
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">
<DIV align="right" style="font-size: 10pt; margin-top: 12pt"><FONT style="font-variant: SMALL-CAPS"><B>Final Transcript</B></FONT>
</DIV>

<P>
<DIV style="width: 100%; border: 1px solid black; padding: 5px;">



<DIV align="left" style="font-size: 10pt; margin-top: 1pt"><B>Oct.
17. 2007 / 11:00AM ET, CHB &#151; Q3 2007 Champion Enterprises, Inc. Earnings Conference Call</B>
</DIV>
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">So, you know, it&#146;s been like that through all of this downturn in the housing cycle. We just don&#146;t
see any catalyst that makes it any worse. We all believe that those markets will recover. I think
the positive is, when that happens &#151; and of course nobody knows when that&#146;s likely to be &#151; our
belief is it will increase again as rapidly as it dropped.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">So, when it happens, I think it&#146;s going to be sudden, which is why we&#146;re not convinced today that
that&#146;s going to be 2008, but it could be. But when it happens &#151; if it doesn&#146;t happen, we think low
single digits, mid single digits in terms of overall growth next year. If it happens, that could
easily leapfrog to double-digit growth.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Ian Zaffino </B><B><I>- Oppenheimer Funds &#151; Analyst</I></B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">So that seems to be different than what you had indicated in the past. In the past, you had
said, look, we&#146;re not going to see a hockey stick recovery. Now you&#146;re kind of indicating that we
may.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Bill Griffiths </B><B><I>- Champion Enterprises, Inc. &#151; Chairman, President, CEO</I></B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Well, I&#146;m still not saying that we will. Because I don&#146;t think it&#146;s, real, as I sit here
today, I&#146;m not sure we have the visibility to say that&#146;s likely to happen in 2008. But I think at
some point in time, those markets are going to come back, and when it does, I do think it will come
back. But it&#146;s going to be a rapid double-digit increase and then it&#146;s going to flatline again.
It&#146;s not going to keep going, I don&#146;t think.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Ian Zaffino </B><B><I>- Oppenheimer Funds &#151; Analyst</I></B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Then, we talked about looking forward some of the seasonality you faced in the fourth quarter.
Given the strength internationally, is there a potential that we could see a sequential improvement
in the bottom line here, or are we still going to see kind of the seasonal decline in the bottom
line from the third quarter?
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Bill Griffiths </B><B><I>- Champion Enterprises, Inc. &#151; Chairman, President, CEO</I></B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">I think it&#146;s pretty unlikely that we&#146;ll see a sequential improvement.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Ian Zaffino </B><B><I>- Oppenheimer Funds &#151; Analyst</I></B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">So we&#146;ll see that seasonal decline. Then lastly, if I can just ask more of a conceptual
question, is it seems like modular has driven most of your backlog. What I guess doesn&#146;t make sense
here is modular tends to be a little bit more closely linked to the site-built market, where HUD
tends to have the countercyclicality. So, how do you explain really the strength in modular? Is
that just the market widely adopting modular structures, and then them doing that and then
eventually when we do see the countercyclicality of HUD, we get even a bigger boost in backlogs? Or
how should we be kind of putting all these data points together?
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Bill Griffiths </B><B><I>- Champion Enterprises, Inc. &#151; Chairman, President, CEO</I></B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Well, I think first of all, we have said consistently that we feel that modular should outpace
the industry statistics. While we have been disappointed about how low that business has been this
year, we are starting to see some very slight and gradual improvement relative to site-built
statistics.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">But, I think more importantly, the countercyclicality of HUD code has up until this point really
been a theory. Because as we stand &#151; as we sit here today, it has dropped year over year by a very
similar amount to the site-built industry. So, we really haven&#146;t seen any of that
countercyclicality kick in yet.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">But, as we have said before, I think there are a lot of things on the table that are all
potentially positive for HUD code that just haven&#146;t been there before, not the least of which is
the inability of people at the lower end of the housing market to get into a site-built house now
and for the foreseeable future, which will ultimately push them back down into the manufactured
housing space. We don&#146;t think that has happened yet. But we do think we will start to see that as
we go through next year. Does that answer that question?
</DIV>

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\
<DIV style="font-family: 'Times New Roman',Times,serif">
<DIV align="right" style="font-size: 10pt; margin-top: 12pt"><FONT style="font-variant: SMALL-CAPS"><B>Final Transcript</B></FONT>
</DIV>

<P>
<DIV style="width: 100%; border: 1px solid black; padding: 5px;">



<DIV align="left" style="font-size: 10pt; margin-top: 1pt"><B>Oct.
17. 2007 / 11:00AM ET, CHB &#151; Q3 2007 Champion Enterprises, Inc. Earnings Conference Call</B>
</DIV>
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Ian Zaffino </B><B><I>- Oppenheimer Funds &#151; Analyst</I></B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">That does, and thank you very much. Good quarter again.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Operator</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Kathryn Thomson, Avondale Partners.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Kathryn Thomson </B><B><I>- Avondale Partners &#151; Analyst</I></B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Not to beat a dead horse on the domestic backlog question, but you indicated in the call and
in the Q&#038;A that backlogs sequentially are approximately flat.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Bill Griffiths </B><B><I>- Champion Enterprises, Inc. &#151; Chairman, President, CEO</I></B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Correct. In the US.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Kathryn Thomson </B><B><I>- Avondale Partners &#151; Analyst</I></B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Given seasonality, wouldn&#146;t this be interpreted as a pretty good thing? Because if we are
going through the seasonally slow quarter, wouldn&#146;t you expect a decline in backlogs?
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Bill Griffiths </B><B><I>- Champion Enterprises, Inc. &#151; Chairman, President, CEO</I></B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">We do view it as a good thing. But I think if you look back in history and take out the
anomalies, generally as we enter this part of the fourth quarter, backlogs are often pretty similar
to what they were at the beginning of the prior quarter. It&#146;s kind of the end of October when that
starts working itself out. Historically, October has been a very strong month for manufactured
housing. It&#146;s after that that it really sort of tapers off. Last year was the exception, where it
plummeted earlier. But yes, it&#146;s a positive thing.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Kathryn Thomson </B><B><I>- Avondale Partners &#151; Analyst</I></B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">So, just seeing flat is normal and a good thing, from your perspective &#151; just to
triple-reiterate.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Bill Griffiths </B><B><I>- Champion Enterprises, Inc. &#151; Chairman, President, CEO</I></B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Yes.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Kathryn Thomson </B><B><I>- Avondale Partners &#151; Analyst</I></B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Also, I&#146;m just trying to reconcile the disparity between combined modular and US unit
shipments were down about 21% versus that 48% increase in US backlogs. Can that the explained by
what you said earlier, the 20% capacity reduction year over year?
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Bill Griffiths </B><B><I>- Champion Enterprises, Inc. &#151; Chairman, President, CEO</I></B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Yes, absolutely. That is absolutely the bulk of it.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Kathryn Thomson </B><B><I>- Avondale Partners &#151; Analyst</I></B>
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">
<DIV align="right" style="font-size: 10pt; margin-top: 12pt"><FONT style="font-variant: SMALL-CAPS"><B>Final Transcript</B></FONT>
</DIV>

<P>
<DIV style="width: 100%; border: 1px solid black; padding: 5px;">



<DIV align="left" style="font-size: 10pt; margin-top: 1pt"><B>Oct.
17. 2007 / 11:00AM ET, CHB &#151; Q3 2007 Champion Enterprises, Inc. Earnings Conference Call</B>
</DIV>
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 12pt">Is there anything else we should take into consideration to explain that differential?
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Bill Griffiths </B><B><I>- Champion Enterprises, Inc. &#151; Chairman, President, CEO</I></B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">I don&#146;t think so. I think really, the capacity adjustments explain it all.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Kathryn Thomson </B><B><I>- Avondale Partners &#151; Analyst</I></B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Going forward, would you be willing to provide more unit information for US backlogs, just so
we can have an apples-to-apples comparison going forward?
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Bill Griffiths </B><B><I>- Champion Enterprises, Inc. &#151; Chairman, President, CEO</I></B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">We&#146;ll take that under advisement. Let me think about it.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Kathryn Thomson </B><B><I>- Avondale Partners &#151; Analyst</I></B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Also in California, Arizona and Florida, you indicated in the last quarter you are seeing some
stabilization. Any update on this? California, Arizona (multiple speakers)?
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Bill Griffiths </B><B><I>- Champion Enterprises, Inc. &#151; Chairman, President, CEO</I></B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">I think that&#146;s the point I was making with the data points. When we actually analyze the data,
after the drop that ended in November of last year, if you actually look at the data from December
through August shipment levels, it is stable and flat. Not getting better, not getting any worse.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Operator</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">(OPERATOR INSTRUCTIONS). Joe Plevelich, Schneider Capital Management.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Joe Plevelich </B><B><I>- Schneider Capital Management &#151; Analyst</I></B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">A quick question on international &#151; trying to see if you have a target margin for 2008 and
beyond and if the prison sales had a better margin than some of the other stuff you are doing
there.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Bill Griffiths </B><B><I>- Champion Enterprises, Inc. &#151; Chairman, President, CEO</I></B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">We are really not in a position yet to give any margin guidance for 2008. We&#146;re just going
into our budgeting cycle for next year. So, we don&#146;t have visibility on that ourselves right now.
But, I would not expect to see material movement in Caledonian&#146;s margins in either direction. So,
hopefully that gives you at least some idea. If we are in a position to clarify that when we have
our next call, we certainly will.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Operator</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">There are no further questions at this time. I would like to apologize for the technical issue
that you all have experienced and any problems this may have caused.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Bill Griffiths </B><B><I>- Champion Enterprises, Inc. &#151; Chairman, President, CEO</I></B>
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">
<DIV align="right" style="font-size: 10pt; margin-top: 12pt"><FONT style="font-variant: SMALL-CAPS"><B>Final Transcript</B></FONT>
</DIV>

<P>
<DIV style="width: 100%; border: 1px solid black; padding: 5px;">



<DIV align="left" style="font-size: 10pt; margin-top: 1pt"><B>Oct.
17. 2007 / 11:00AM ET, CHB &#151; Q3 2007 Champion Enterprises, Inc. Earnings Conference Call</B>
</DIV>
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Thank you, operator. We apologize on our behalf, too. As always, if anybody is on the call
that has further questions, please call Laurie, Phyllis or myself here in the office and we will be
happy to answer further questions this afternoon. Thank you for your patience, everybody.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Operator</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">This concludes Champion&#146;s third-quarter 2007 conference call. I would like to remind you that
a telephone replay of the call will be available approximately one (technical difficulty) from now
through Wednesday, October&nbsp;31, 2007. To access the telephone replay, please call 888-286-8010 for
domestic callers or 617-801-6888 for international callers. The pass code is 10494354. The webcast
replay will be available on the Company&#146;s website for 90&nbsp;days under the Investor Relations link.
You may now disconnect. Thank you and have a good day.
</DIV>
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