Tender Offer for Armstrong Shares Below Market

Fort Worth, TX, September 3, 2009--Armor TPG Holdings LLC, a company owned by private equity funds affiliated with TPG Capital, said it is launching a tender offer to purchase up to 4,435,935 shares of common stock of Armstrong World Industries, Inc. for $22.31 per share in cash.

The tender offer is scheduled to expire at midnight Oct. 1 but could be extended under certain circumstances.

However, the closing price Sept. 3 was $29.59 and for now shareholders can get a higher price on the open market.