FREQUENTLY ASKED QUESTIONS

1. Why was Owens Corning's Chapter 11 filing necessary?

Unlike most Chapter 11 cases, Owens Corning has a strong cash flow. However, due to ongoing asbestos payments, its obligations have increased to levels not sustainable over time. In addition, as a result of economic conditions, our cash flow has weakened. By filing for Chapter 11, we will have an opportunity to use the court-supervised reorganization process to achieve a binding, legal resolution to the asbestos situation. By doing so, we can finally put this difficult issue behind us and move forward.

2. Is Owens Corning going out of business?

Absolutely not. During the Chapter 11 process, Owens Corning will continue to operate its businesses in the ordinary course. All of our operations around the world are open and focused on serving our customers.

3. What will Chapter 11 do for Owens Corning?

With the court protection provided by the Chapter 11 filing, we will have the breathing room and financial resources we need to reorganize our debt and liabilities, while we continue to focus on strengthening our business operations. We will be able to put the asbestos liability behind us and emerge as a stronger and more viable company.

Specifically, Chapter 11 enables us to:

• Protect the interests of our employees, suppliers and customers;
• Secure a new line of credit so that we can assure our suppliers, vendors, landlords and employees that we will meet our post-filing obligations in a normal and customary manner;
• Work with our creditors through a court-managed process to develop a plan for resolving our liabilities;
• Continue to support our business operations and our brand;
• Continue to provide our products and services to our customers on a business-as-usual basis.

4. What will happen to Owens Corning's stock?

The stock's value, if any, will be determined by negotiations and the Plan of Reorganization filed by the Company in the bankruptcy proceedings. If you own shares of Owens Corning stock, you should consult with a financial or tax advisor to assess your alternative courses of action.

5. How long will Owens Corning be in Chapter 11?

It is too soon to know the answer to that question, but we intend to proceed as quickly as possible. In cases filed by companies with complex asbestos liabilities similar to ours, it has taken an average of six years. In light of changes in the law, the positive negotiations leading to the National Settlement Program, and the anticipated cooperation of the plaintiffs' lawyers representing claimants, we believe we can proceed more efficiently and expeditiously.

6. How does the Chapter 11 filing affect the company's international operations?

None of our business operations outside of the U.S. are included in the Chapter 11 filing (although we are continuing to evaluate the situation in Canada, because of its different legal system). Accordingly, this action should have no effect on our international subsidiaries, joint ventures and affiliates. We will continue to meet all obligations to our employees, customers, suppliers and vendors under normal terms.

7. Wasn't the NSP going to quantify liabilities and resolve the asbestos problem?

The National Settlement Program did quantify the cost of resolving NSP claims and helped estimate the cost of resolving claims outside of the NSP. However, even after we adjusted our reserves to provide for the increase in claims under the NSP and for settlements outside the NSP, we stated clearly we could meet our payment obligations only if, among other things, the company's operating performance did not decline. Unfortunately, a combination of factors including an increase in the number of claims both inside and outside the NSP process, an increase in the average cost of settlements and a deterioration of economic conditions in our key markets created extraordinary pressure on our cash flow that led to the decision to file for Chapter 11.

8. What do I do if I still have questions?

If you have additional questions, further information is available as follows:

• Questions about payments to suppliers and vendors: Vendor Response line (toll free): 1-877-799-6973. International suppliers should call 419-248-5555.
• Questions about customer relations: Customer Response line (toll free): 1-800-725-9350.
• General Information and updates: The company's toll-free General Information line: 1-877-799-6904.