Owens Corning Announces Multi-million Dollar Investment To Increase Loosefill Insulation

TOLEDO, OHIO (Wednesday, January 04, 2006) - To meet increasing customer demand
for more energy-efficient homes due to high energy prices and the Energy
Policy Act, Owens Corning today announced a multi-million dollar expansion to
produce an additional 60 million pounds per year of unbonded fiberglass
loosefill insulation. Owens Corning is converting a pre-existing idled
facility in Mount Vernon, Ohio, to produce the product. Using proprietary,
capital-efficient furnace equipment, the facility is expected to be up and
running by the 3rd quarter of 2006 and will employ nearly 30 people.
"As a leader in the insulation industry, we will continue to expand
capacity for our customers," said George Kiemle, president of Insulating
Systems Business, Owens Corning. "This increase is part of our continual
effort to ensure the lowest-cost, most capital-efficient production and
superior customer service. Equally exciting is that we'll again be working
with the citizens of Mount Vernon who have continually been strong supporters
of our business, our operations and our employees."
Overall, the insulation market and the building products industry in
general are facing significant, unprecedented demand driven by record housing
starts, devastating hurricanes, record energy prices, and the 2006 energy tax
bill. This announcement is in addition to other steps taken by Owens Corning
to add fiberglass capacity throughout 2004, 2005 and 2006, which have resulted
in the company producing more fiberglass insulation in 2005 than in any one of
the previous 67 years of the company's history.

About Owens Corning
Owens Corning is a world leader in building materials systems and
composites systems. Founded in 1938, the company had sales of $5.6 billion in
2004. Additional information is available on the Owens Corning Web site at
http://www.owenscorning.com or by calling the company's toll-free General
Information line: 1-800-GETPINK.


Contact: Kerry Desberg Bill Steers
Owens Corning GolinHarris
419.248.5939 312.729.4363
kerry.desberg@owenscorning.com bill.steers@golinharris.com

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