Congoleum Files Delayed 10-Q After SEC Review

Mercerville, NJ, October 11, 2007--Congoleum reported today that it has filed its Form 10-Q for the period ended June 30, 2007. Congoleum had delayed filing its 10-Q pending completion of a review by the SEC of its accounting policies and disclosures with respect to asbestos liabilities, insurance settlements, and related costs.

After its review, the SEC told Congoleum that it won’t require modification of the company’s financial statements or accounting policies.

Congoleum had also been notified by the American Stock Exchange that it was not in compliance due to the delay in filing its second quarter 10-Q. Congoleum now expects to be in compliance.
 

On December 31, 2003, Congoleum filed for voluntary Chapter 11 bankruptcy to resolve claims related to the use of asbestos in its products decades ago.