Owens Corning/Fibreboard Asbestos Personal Injury Trust to sell 7 million shares of Owens Corning common stock to BofA Merrill Lynch and JPMorgan

Michelle Rivera

TOLEDO, Ohio , May 2, 2011 (press release) – Owens Corning (NYSE: OC) today announced that one of its stockholders, the Owens Corning/Fibreboard Asbestos Personal Injury Trust (the "Trust"), has agreed to sell 7,000,000 shares of its common stock to BofA Merrill Lynch and J.P. Morgan. All net proceeds from the sale of the common stock will be received by the Trust. Owens Corning will not receive any proceeds from the sale.

The shares are being sold by the Trust in an at-the-market offering pursuant to an effective shelf registration statement.

The copy of the prospectus relating to these securities may be obtained, when available, from BofA Merrill Lynch, 4 World Financial Center, New York, NY 10080, Attn: Prospectus Department or email dg.prospectus_requests@baml.com or J.P. Morgan, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717.

This press release shall not constitute an offer to sell or the solicitation of any offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Owens Corning

Owens Corning (NYSE: OC) is a leading global producer of residential and commercial building materials, glass-fiber reinforcements and engineered materials for composite systems. A Fortune 500 company for 56 consecutive years, Owens Corning is committed to driving sustainability by delivering solutions, transforming markets and enhancing lives. Founded in 1938, Owens Corning is a market leading innovator of glass-fiber technology with sales of $5.0 billion in 2010 and about 15,000 employees in 28 countries on five continents.

* All content is copyrighted by Industry Intelligence, or the original respective author or source. You may not recirculate, redistrubte or publish the analysis and presentation included in the service without Industry Intelligence's prior written consent. Please review our terms of use.