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NATIONAL GYPSUM COMPANY SIGNS WALLBOARD LICENSING AGREEMENT WITH ISRAELI COMPANY

 NATIONAL GYPSUM COMPANY SIGNS WALLBOARD LICENSING
 AGREEMENT WITH ISRAELI COMPANY
 CHARLOTTE, N.C., Dec. 3 /PRNewswire/ -- National Gypsum Company has entered into a license and sales agreement with Orbond, Ltd, an Israeli company headquartered in Tel Aviv, it was announced today by Peter C. Browning, chairman and chief executive officer of National Gypsum.
 Under the agreement, National Gypsum will provide technical assistance in the establishment of operations to manufacture gypsum wallboard and related products. The agreement also provides Orbond with the exclusive use of the Gold Bond Building Products tradename in the manufacture, sale and distribution of gypsum wallboard and related products in Israel.
 National Gypsum will receive as consideration a royalty on the gross sales of the wallboard and related products. Orbond's gypsum wallboard plant, which will have a production capacity expected to be sufficient to meet all of the currently anticipated demand in Israel, should begin production in approximately 18 months at an estimated initial rate of some 120 million square feet annually.
 "National Gypsum Company is not only pleased but honored to be associated with Orbond, Ltd and its principal owner, Ted Arison. We are confident that Orbond will not only be financially successful but also play an important role in helping meet the critical housing needs of the region," stated Browning.
 Orbond is one of a group of companies which are involved in the construction industry. The group develops, manufactures and markets products and advanced technology to the building industry in Israel and for export. These products and services emphasize cost reduction, shorter construction time and are of high quality. The group currently consists of two companies: one produces prefabricated bathroom wet modules and the other produces thermoplast boards. The gypsum wallboard factory will be the third company, with other companies currently under consideration.
 National Gypsum Company is an integrated, diversified manufacturer and supplier of products and services used worldwide in building and construction. National Gypsum, the nation's second largest manufacturer of gypsum wallboard, has marketed its wallboard and related products under the Gold Bond brand for over 65 years.
 -0- 12/3/91
 /CONTACT: Allan V. Cecil, Vice President-Public Affairs, National Gypsum Company, 704-365-7227/ CO: National Gypsum Company; Orbond, Ltd ST: North Carolina IN: CST SU: LIC


CM -- CH002 -- 8636 12/03/91 09:41 EST
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Date:Dec 3, 1991
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