IWT Sells Assets to Investment Firm

Palm City, FL, March 12, 2008--International Wholesale Tile said that it has sold its assets to a Connecticut-based investment firm as part of a comprehensive restructuring plan.

Under the amended name International Wholesale Tile, LLCIWT will use the financial backing to improve product offerings, customer service, and capital make capital improvements to its production facility.

IWT supplies tile materials to retail floor-covering dealers, designer centers and specialty tile retailers throughout the U.S. The company maintains an inventory of ceramic and porcelain tile and stone in its 150,000-square foot distribution center located in Palm City.

"This reorganization will ensure better service for our long-standing clients," said President Paul

"We will continue to introduce new products to the marketplace under our Tesoro brand as we look to add additional product lines and categories in the months ahead."

With the company's restructuring plan in place, the company has negotiated a new long-term lease for its corporate offices and distribution center in Palm City. In addition, IWT has expanded its product lines with the purchase of new tile and stone series, and additional investments have been made to expand the tile studio production facility that cuts, profiles, and finishes the ceramic and porcelain units.

Boucher has been president of IWT since 1994, and will remain chief executive.