March 2007

American Standard to sell its kitchen and bath business Taco dedicates addition with touch of class Viega announces training schedule for 2007

American Standard to sell its kitchen and bath business

Piscataway, N.J. -- American Standard Companies Inc. announced that its board of directors has completed a strategic review of the company and unanimously approved a plan to separate its three businesses this year.

“The board has concluded that separating American Standard into three focused, better understood companies will create greater shareowner value than the current structure,” said Fred Poses, chairman and CEO. “The businesses have the size, global reach, industry leadership and organizational talent to succeed as separate companies.”

Upon completion of the plan, American Standard will focus on its global market-leading air conditioning systems and services business with 2006 sales of $6.8 billion and will change the company’s name to Trane, the company’s flagship air conditioning brand. The company plans to spin off its global vehicle control systems business with 2006 sales of $2.0 billion as an independent, publicly traded company, expected to be known as WABCO. It plans to implement the spinoff through a tax-free stock dividend of all WABCO common stock to American Standard shareowners, who would receive one share of WABCO common stock for every three shares of American Standard common stock currently owned. In addition, American Standard plans to sell its bath and kitchen business with 2006 sales of $2.4 billion. The company expects to complete both the spinoff of WABCO and the sale of bath and kitchen by early fall of this year.

“We’ve come a long way since the company went public in 1995,” said Poses. “Over the past 12 years, we’ve generated average annual total shareowner returns of about 18%. Over the past seven years, we reduced our debt by more than $1 billion, achieved investment grade ratings and established our quarterly dividend and subsequently increased it. At the same time, we invested in our businesses to strengthen their overall capabilities.

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Taco dedicates addition with touch of class

Cranston, R.I. -- Taco president and ceo John Hazen White, Jr. dedicated the new 60,000-sq.-ft. addition to the company’s Cranston Street facility in a dedication ceremony following a luncheon reception for employees and invited guests.

Rhode Island Governor Donald Carcieri, Lt. Governor Elizabeth Roberts and Cranston Mayor Michael Napolitano were in attendance and spoke at the event. Members of the Rhode Island Philharmonic performed after the dedication.

The new addition, which is used for warehousing and shipment of company products, was dedicated to White’s parents, John Sr. and Mary “Happy” White. In a program handout at the event, John White, Jr. noted that “for many years the growth and development of Taco was driven and overseen by John and Happy White.” He credited his parents with “having created a solid foundation from which we have based our growth and success” over the past 15 years.

A photo portrait of the couple, taken in the 1990s in the tower office at Taco, was unveiled and will hang on a wall in the new building. An accompanying plaque cites the dedication of the new addition in their names, dated February 16, 2007.

John Hazen White, Sr., who took over Taco upon the passing of his father Elwood White in 1942 and subsequently ran the company until 1997, died in March 2001. His wife Happy was very involved with Taco and its employees throughout the years. Together with her husband they established the John and Happy White Foundation in 1999. The Foundation supports a variety of charitable, social service and arts organizations in Rhode Island.

The new addition marks the first physical expansion of Taco since 1954, the year John Hazen White Sr. acquired the original building, converting what had been a former utc trolley barn into a manufacturing operation. The land on which the new addition sits was sold to Taco by Edward Imperatore, who operated a crane service next door for many years. For information on Taco, visit www.taco-hvac.com.

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Viega announces training schedule for 2007

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