Wayne, NJ, February 23, 2007-- Two great building products companies, GAF Materials Corporation and Elk Corporation, have come together to lead the industry. Together, GAF and Elk will become even more effective with the market's best and broadest product offering, improved service that reduces hassles for contractors and distributors and business-enhancing support for the industry.

Bob Tafaro, President and Chief Executive Officer, expressed his pride and confidence in the future, noting that "employees from both organizations have proven their commitment to customer-focused relationships, which helps distinguish us as the professional contractor's preferred choice. This employee passion, combined with unified world-class manufacturing, supply chain and marketing capabilities, will improve service for all our customers."

GAF and Elk customers will essentially experience business as usual through the end of 2007, with both brands remaining separate. Specifically, each brand will continue to support commitments to distributors and contractors with essentially the same products, services, warranties and programs. These products will come from the same manufacturing facilities and typically through the same sales team relationships that they've come to trust. Keith Sanders, Vice President, Steep Slope Roofing Systems, confirmed that "we are committed to providing the individual brands with the same high level of business-building tools, capability-enhancing training and support programs that our customers appreciate today." Curt Barker, Vice President of Sales, added "late in the year, the combined world-class selling organization will be aligned into even more localized territories, which will result in less 'windshield time' and more quality time doing what we do best: servicing our customers."

Bob Tafaro shared "Success in this business is all about superior service. And in 2008, GAF and Elk will implement best practice improvements that will allow us to provide by far the best service in the industry. The company will unify the sales team, for better service. The company will unify the product line, for better service. The company will unify the certified contractor initiatives service." Dave Harrison, Chief Marketing Officer, added "in 2008, we'll still utilize both the GAF and Elk brand names - they are trusted by the contractor and consumer. We'll still have high definition blend shingles that Elk contractors appreciate - and the more moderate blends that GAF contractors trust. Most importantly we'll still be focused on helping the best contractors in North America build their business by distinguishing themselves as the best and safest choice for consumers."

In preparation for 2008, the entire team will be hard at work developing strategies and implementing best practices from both companies. Dick Nowak, Executive Vice President and Chief Operating Officer,, said "We now have the largest manufacturing network in the industry with 35 factories, which allows for improved service levels and exceptional responsiveness to customer needs, especially those caused by major storms. This unified organization will share best practices to improve support for our customers, and the shared resources will make our company the most innovative, effective and efficient marketer and manufacturer of roofing systems in North America."

Dave Harrison, shared "The new company's product offerings will be the most comprehensive in the industry for both steep and low slope systems." He also said "We remain absolutely committed to our pledge to help distributors and contractors build their business and avoid hassles. Our investment in customer focused initiatives will demonstrate an even greater commitment to providing the best support programs in the industry."

As North America's largest roofing manufacturer and the premium choice for building products, GAF and Elk will continue to focus on its core promise: "provide property owners and specifiers their best and safest choice; help supportive distributors and contractors build their business and avoid hassles; help employees by investing aggressively in growth that results in even more career and business opportunities moving forward.

FORWARD-LOOKING STATEMENTS
This release contains some forward-looking statements as defined by the federal securities laws which are based on our current expectations and assumptions, which are subject to a number of risks and uncertainties that could cause actual results to differ materially from those anticipated, projected or implied. We undertake no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise.   

#  #  #