AMTROL Inc. and Official Committee of Unsecured Creditors File Joint Plan of Reorganization.

Holders of the Company's Senior Subordinated Notes Will Receive Substantially All of the Equity in the Reorganized Company

Plan Will Reduce the Company's Debt by 40% and Interest Cost by More Than 50%

Plan Provides For All Pre-Filing Trade Liabilities To Be Paid in Full

Company Continues to Operate in the Normal Course; Has Experienced No Disruptions under Chapter 11

Company Expects to Emerge from Chapter 11 in the Second Quarter

WEST WARWICK, R.I. -- AMTROL Inc. reported that it has reached an important milestone in its effort to complete a financial restructuring under Chapter 11 of the U.S. Bankruptcy Code. On March 1, the Company and the Official Committee of Unsecured Creditors filed a Joint Plan of Reorganization ("Plan") and related Disclosure Statement with the U.S. Bankruptcy Court.

The Company anticipates that the requisite number and amount of its Senior Subordinated Notes ("Notes") will vote in favor of the Plan and, pursuant to the Plan, the Notes will be exchanged for substantially all of the equity in the reorganized Company, thereby reducing the Company's debt by approximately 40% and greatly improving its long-term financial stability. The Plan provides for all pre-filing trade liabilities to be paid in full.

The Company's domestic operations are being financed under Chapter 11 with a $115 million debtor-in-possession (DIP) facility provided by Barclays Capital, the investment banking division of Barclays Bank PLC. The Company has received a number of commitments to repay the DIP facility with long-term, low-cost financing as it completes the reorganization. The Company anticipates that the reorganization will result in a reduction in total annual interest cost of more than 50%.

AMTROL has continued to operate in the normal course of business and has experienced no disruptions during the Chapter 11 reorganization process. All of the Company's manufacturing and distribution facilities remain open and are continuing to serve customers. The Company also continues to honor all commitments to its customers, including warranties and the payment of sales rebates, pay all wages and benefits to employees and independent sales representatives and pay suppliers for goods and services provided under Chapter 11, all in the normal course. The Company's foreign operations are not involved in the reorganization.

The Plan remains subject to approval by the U.S. Bankruptcy Court. The Company expects to complete the reorganization and emerge from Chapter 11 in the second quarter of this year.

The Honorable Kevin Gross of the U.S. Bankruptcy Court for the District of Delaware is presiding over the cases. AMTROL's principal legal advisors for the proceedings are Douglas Gray, Stuart Brown and William Chipman, Jr, of Edwards Angell Palmer & Dodge LLP. The Company's financial advisor is Miller Buckfire & Co., LLC.

More information about AMTROL's reorganization is available at www.kccllc.net/amtrol or KCC at 888-251-2873.

ABOUT AMTROL:

AMTROL is a leading manufacturer and marketer of water storage and pressure control products, water heaters and cylinders. The Company's major products include pressure tanks used in well water, hydronic heating and potable hot water applications, indirect-fired water heaters, and both LPG and disposable refrigerant gas cylinders. Products are marketed under the Well-X-Trol[R], EXTROL, Therm-X-Trol[R] and BoilerMate[TM] brand names.