Owens Corning Commences Secondary Offering of Common Stock by Selling Stockholder

TOLEDO, Ohio, Feb. 22 /PRNewswire-FirstCall/ -- Owens Corning (NYSE: OC) today announced that it has commenced an underwritten public offering of common stock pursuant to a shelf registration statement on Form S-3 filed today with the Securities and Exchange Commission on behalf of one of its stockholders, the Owens Corning/Fibreboard Asbestos Personal Injury Trust (the "Trust").  The Trust is offering 12,261,000 shares of common stock of Owens Corning and will grant the underwriters a 30-day option to purchase up to an additional 1,839,000 shares of common stock, on the same terms and conditions, to cover over-allotments, if any.  

Owens Corning will not sell any shares in the offering and will not receive any proceeds from the offering.

BofA Merrill Lynch and J.P. Morgan will act as joint book-running managers of the equity offering.

This press release shall not constitute an offer to sell or the solicitation of any offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.  The offering of these securities will be made only by means of a prospectus, copies of which may be obtained from:  BofA Merrill Lynch, 4 World Financial Center, New York, NY 10080, Attn: Preliminary Prospectus Department or email [email protected] or J.P. Morgan, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717.

About Owens Corning

Owens Corning (NYSE: OC) is a leading global producer of residential and commercial building materials, glass-fiber reinforcements and engineered materials for composite systems. A Fortune 500 Company for 55 consecutive years, Owens Corning is committed to driving sustainability by delivering solutions, transforming markets and enhancing lives. Founded in 1938, Owens Corning is a market-leading innovator of glass-fiber technology with sales of $4.8 billion in 2009 and about 16,000 employees in 28 countries on five continents.

SOURCE Owens Corning

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