Armstrong Holdings Distributes $28M in Assets

Lancaster, PA, December 13, 2007--Armstrong Holdings Inc., the parent company of Armstrong World Industries Inc., has distributed all its assets, $28 million, to its shareholders and will cease to exist, the flooring company said.

The holders of 40.6 million outstanding shares of Armstrong Holdings stock, which stopped trading December 5, will receive $.69 per share.

The $28 million is a payment in cash and shares to the holding company from Armstrong World Industries, which continues to trade on the New York Stock Exchange under the ticker symbol AWI.