Cameron Ashley Completes Share Repurchase Program.

DALLAS, Texas--(BUSINESS WIRE)--September 22, 1998--Cameron Ashley Building Products (NYSE: CAB) announced today that it completed its common stock buy-back program, in which the Company repurchased substantially all of the 750,000 shares authorized by its Board of Directors earlier this month. The repurchased shares represent approximately 8% of the total shares outstanding as of the quarter ended July 31, 1998. The repurchased shares also included 340,000 secondary shares bought from CGW Southeast Partners I, L.P., which comprise approximately 27% of CGW's current holdings in Cameron Ashley.

The total number of shares purchased through the buy-back program does not include recent purchases made by the management team.

Cameron Ashley Building Products, Inc. is a distributor of a broad line of building products that are used principally in home improvement, remodeling and repair work and in new residential construction. The Company distributes its products to independent building material dealers, professional builders, large contractors and mass merchandisers through a network of 164 branches located throughout the United States and Canada. Product lines include roofing, millwork, pool and patio enclosure materials, insulation, siding, steel products, industrial metals and a variety of other building materials.