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ARMSTRONG WORLD INDUSTRIES ISSUES STATEMENT

 ARMSTRONG WORLD INDUSTRIES ISSUES STATEMENT
 LANCASTER, Pa., Nov. 27 /PRNewswire/ -- Fourth-quarter 1991 net


earnings for Armstrong World Industries, Inc. (NYSE: ACK), appear to be heading considerably lower than analysts' expectations, Armstrong Chairman and President William W. Adams said today.
 "October was a good month, but sales weaknesses in November and the prospect of disappointing December results have caused us to revise our own more encouraging expectations of just weeks ago," he said. "What seems to be developing is a quarter not unlike the fourth quarter of last year, in which both sales and profit margins fell somewhat below third-quarter levels. What we had anticipated, based upon the first five weeks of the fourth quarter, was a continuation of the positive trends in sales and profits experienced in the second and third quarters of this year." He also said there may be, at the end of the year, a moderate number of unusual charges to earnings from obsolescence, restructuring and the like.
 Adams made these comments about the company's businesses:
 -- U.S. commercial construction continues to be depressed, exaggerated by intense price competitiveness on the projects that are there. This affects both Armstrong's building products and ceramic tile businesses.
 -- The ongoing decline in the European economic climate continues to erode building products sales and margins.
 -- No further improvement has appeared in the company's U.S. residential end-use markets, roughly reflecting the near-flat trend in recent housing indicators; Armstrong's residential flooring and furniture businesses are holding their own in an intensely competitive marketplace.
 "In a nutshell, what was weakening still is, and what was relatively strong is no longer strengthening," Adams said.
 "It is important to note that the company's financial condition remains sound and that we are totally on track with our strategic focus, the improvement of our operating efficiencies, and our intense pursuit of customer satisfaction," he said.
 Commenting on the reason for an announcement about the fourth quarter at this particular time, Adams said, "There is speculation over whether the economy is heading into the second part of a double-dip recession, and we've received an unusual number of inquiries about the patterns and trends in our businesses. While it is far too early to be more precise about the level of our earnings, we did want to provide our investor audience with some indication of our outlook at this time."
 -0- 11/27/91
 /CONTACT: Armstrong Public Relations, 717-396-3313/
 (ACK) CO: Armstrong World Industries, Inc. ST: Pennsylvania IN: SU: ERP


JS-KA -- PH017 -- 7714 11/27/91 11:55 EST
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Date:Nov 27, 1991
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