American Biltrite Delays Filing Second Quarter Form 10-Q.

WELLESLEY HILLS, Mass. -- American Biltrite Inc. (AMEX:ABL) today reported that it will not timely file its Quarterly Report on Form 10-Q for the period ended June 30, 2007 ("10-Q") with the Securities and Exchange Commission ("SEC") pending completion of a review of the financial statements of its subsidiary Congoleum Corporation ("Congoleum") by the SEC. American Biltrite issued a press release with preliminary financial results for the three and six months ended June 30, 2007 on August 10, 2007 and reported at that time that the filing of its 10-Q might be delayed. Pursuant to SEC rules, the deadline for filing the 10-Q was August 14, 2007. This announcement is in response to the American Stock Exchange's requirement that disclosure be made of American Biltrite's failure to file its 10-Q within five days of the filing deadline.

In June 2007, American Biltrite's subsidiary Congoleum received a "comment letter" from the SEC indicating that the SEC had reviewed Congoleum's Annual Report on Form 10-K for the year ended December 31, 2006 and was requesting supplemental information on Congoleum's accounting policies and disclosures related to asbestos liabilities, insurance settlements, and related costs. Congoleum filed a voluntary petition with the United States Bankruptcy Court in 2003 seeking relief under Chapter 11 of the United States Bankruptcy Code as a means to resolve claims asserted against it related to the use of asbestos in its products decades ago. Congoleum responded to the SEC comment letter on August 1, 2007. American Biltrite's consolidated results contained in the press release issued on August 10, 2007 include Congoleum's results, which Congoleum prepared in accordance with its existing accounting policies, which are consistent with those applied in the prior periods contained in that press release. The comment letter process is not yet complete, and American Biltrite is therefore unable to determine whether, as a result of the comment letter process, it will supplement the disclosure included in, or restate or make other changes to its consolidated financial statements included in, American Biltrite's previously filed reports with the SEC. In order to assure that its 10-Q is consistent with any changes in accounting policies or disclosures which may be adopted or implemented as a result of the comment letter process, American Biltrite intends to delay the filing of the 10-Q until the comment letter process is completed and Congoleum has finalized its Quarterly Report on Form 10-Q for the period ended June 30, 2007. ABI intends to file its 10-Q as promptly as practicable following completion of the comment letter process and currently anticipates that both the review process and the filing of its 10-Q will be completed within three months from the date of this release, although there can be no assurances in this regard.

Warning regarding forward looking statements

The above news release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, that involve risks, uncertainties and assumptions. These forward-looking statements are based on American Biltrite's expectations, as of the date of this release, of future events. American Biltrite undertakes no obligation to update any of these forward looking statements. Although American Biltrite believes that its expectations are based on reasonable assumptions, within the bounds of its knowledge of its business and experience, there can be no assurance that actual results will not differ materially from expectations. Readers are cautioned not to place undue reliance on any forward-looking statements. Actual results could differ significantly as a result of various factors, including (1) the timing to complete the SEC review process, (2) the extent to which the SEC seeks Congoleum to change its accounting policies or disclosures and the significance of those changes, and (3) whether, and if so, the extent to which, American Biltrite will supplement the disclosure included in, or restate or make other changes to its consolidated financial statements included in, American Biltrite's previously filed reports with the SEC as a result of the comment process, as well as other factors set forth in American Biltrite's Annual Report on Form 10-K for the year ended December 31, 2006 and its subsequent filings with the SEC.