Congoleum Corporation Shares to Trade On AMEX.

Business Editors

MERCERVILLE, N.J.--(BUSINESS WIRE)--June 27, 2000

Congoleum Corporation (NYSE: CGM) announced today that shares of its Class A common stock will begin trading on the American Stock Exchange on June 29. The shares will continue to trade under the symbol CGM. In conjunction with the move to the AMEX, appropriate ticker notices will be issued, and filings made with the SEC indicating that Congoleum is moving its trading to the AMEX from the NYSE.

Roger S. Marcus, Chairman of the Board, commented, "We look forward to joining the growing list of companies traded on the AMEX. American Biltrite (AMEX: ABL), our largest shareholder, has enjoyed a very positive experience there over the past forty years, and we believe Congoleum will also be well served there. It further makes sense to have both companies listed on the same exchange."

Mr. Marcus continued, "While we have enjoyed our association with the New York Stock Exchange, the new increased continued listing requirements regarding market capitalization and stockholder's equity imposed last year make it clear to us that their focus is on companies with larger capitalizations. Although our plan to meet these standards was approved subject to on-going quarterly monitoring, we now believe, having studied our options, that our shareholders will be best served by making this change."

The American Stock Exchange is part of the Nasdaq-Amex Market Group and is a subsidiary of the National Association of Securities Dealers Inc., the largest securities-industry, self-regulatory organization in the United States. AMEX is the nation's second largest and most technologically advanced floor-based exchange, and has a significant presence in common stocks, index shares, and equity derivatives. It is home to a growing list of actively traded index-linked securities (e.g., DIAMONDS, SPDRS, WEBS) and its auction market structure has attracted listings of companies from a wide range of industries.

Congoleum Corporation is a leading manufacturer of resilient flooring, serving both residential and commercial markets. Its sheet, tile, plank and laminate products are available in a wide variety of designs and colors, and are used in remodeling, manufactured housing, new construction and commercial applications. The Congoleum brand name is recognized and trusted by consumers as representing a company that has been supplying attractive and durable flooring products for over a century. Congoleum is a 54% owned subsidiary of American Biltrite, Inc.

The above news release contains certain forward-looking statements which involve a number of risks and uncertainties, including product demand, consumer preferences, changes in customer inventories, pricing, competitive factors, raw material prices, market conditions, capital equipment modifications and other factors. Actual results could differ significantly as a result of these and other factors discussed in the Company's report on Form 10-K filed with the Securities and Exchange Commission.