Armstrong Holdings Shareholders to Vote on Plan to Dissolve Company

LANCASTER, Pa., May 9  /PRNewswire-FirstCall/ -- Armstrong Holdings, Inc., a Pennsylvania corporation (OTC:ACKH) (BULLETIN BOARD: ACKH) , announced today that its Board of Directors has approved a plan to dissolve the Company and distribute its assets of approximately $27 million in cash to shareholders.

The Company expects to send to shareholders proxy materials setting a date and location of a meeting to vote on the plan of dissolution.

Armstrong Holdings, Inc. previously was the parent holding company of Armstrong World Industries, Inc. (AWI). On October 2, 2006, AWI emerged from Chapter 11 bankruptcy reorganization under its Plan of Reorganization that cancelled the Company's ownership in AWI.

Armstrong Holdings, Inc. has no operations and no employees. Its only assets are approximately $27 million in cash representing the proceeds of a Court-approved settlement with AWI over intercompany transactions and tax benefits.

Forward Looking Statement

These materials contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act. Such statements provide expectations or forecasts of future events. Results could differ materially due to known and unknown risks and uncertainties, including the tax elections that will be made pursuant to the settlement, the challenges of utilizing tax losses under IRS regulations, and other factors disclosed in recent reports on Forms 10-K, 10-Q and 8-K filed with the SEC. We undertake no obligation to update any forward-looking statement. 

DATASOURCE: Armstrong Holdings Inc.



CONTACT:  Investors, Beth Riley, [phone], ,

or Media, Meg Graham, [phone], , both of

Armstrong Holdings Inc.



Web site:  http://www.armstrong.com/ 

Copyright