Option Prices Lowered for Armstrong Executives

Lancaster, PA, March 14, 2008--Armstrong World Industries has reduced the exercise prices on the executive stock options by as much as $12.50, Armstrong said.

Yet, because Armstrong's stock has fallen recently to an all-time low, the exercise prices are still above the market price.

The price adjustments dictated by the terms of Armstrong's long-term incentive plan.

CEO Michael D. Lockhart gained the most, since he has received the greatest number of options.

For the 236,000 options he got in October 2006, when Armstrong emerged from bankruptcy, the exercise price fell from $38.42 to $29.37.

For the 64,100 options he got in February 2007, the exercise price went from $52.38 to $39.88. For the 132,000 options he got last in February, the exercise price fell from $34.00 to $28.45.

Six other executives also got options in October 2006.