Johns Manville Completes Sale of Monofilament Business to Teijin Limited

Johns Manville Corporation (NYSE: JM) has completed the previously announced sale of its monofilament business to Teijin Limited. The financial terms of the transaction were not disclosed.

Johns Manville acquired the monofilament business from the Hoechst Group in 1999 as part of the purchase of Hoechst's spunbond operations in the United States and Germany. The spunbond operations, which are used in Johns Manville's building products applications, were not affected by the sale of the monofilament business to Teijin.

Included in the sale to Teijin are monofilament operations in Spartanburg, S.C. (USA), and Bobingen, Germany. Monofilament is used in the paper manufacturing business and other industrial applications. The combined monofilament businesses of Teijin and Johns Manville will represent approximately 25 percent of the world's monofilament market.

Teijin Limited, formed in 1918, had consolidated sales of approximately $5.6 billion for the period ending March 31, 2000, and has approximately 22,000 employees worldwide. Teijin's monofilament business is currently conducted by its Tokyo-based subsidiary Teijin Monofilament Limited mainly for the Asian market.

Johns Manville is a leading manufacturer and marketer of premium-quality building products. The 143-year-old Denver-based company had sales of $2.2 billion in 1999. Johns Manville employs approximately 9,700 people and operates 55 manufacturing facilities in North America, Europe and China. Additional information can be found at http://www.jm.com.

This news release contains "forward-looking statements" within the meaning of the federal securities laws with respect to the Company's financial results and its future operations and, as such, concern matters that are not historical facts. These statements are subject to the risks and uncertainties that could cause actual results to differ materially from those expressed in such statements. Important factors that could cause such differences include general U.S. and international economic conditions, particularly those affecting the commercial and residential construction markets, such as the general rate of inflation, interest rates, employment rates, and overall consumer confidence; demand for JM products; overall capacity levels in the industry; and the overall competitive environment in which the Company operates; as well as other factors discussed in the Company's periodic reports on Forms 10-Q and 10-K that are filed with the Securities and Exchange Commission and are incorporated herein by this reference.

Contact:
Johns Manville John Cummings, 303-978-4914 Web site: http://www.jm.com