Pittsburgh, PA, and New York City (December 15, 2006). Business Growth Alliance, LLC (BGA) is pleased to announce that Mr. Russell F. Peppet, a member of the BGA Board of Directors, was recently named to the Board of Directors of Armstrong World Industries, Inc. (NYSE: AWI) headquartered in Lancaster, PA.

Armstrong World Industries Inc., (AWI), a global leader in the design and manufacture of floors, ceilings and cabinets, has a new nine member Board of Directors, and Mr. Michael D. Lockhart will continue to serve as Chairman and CEO of AWI. In addition to Mr. Lockhart, Judith R. Haberkorn and John J. Roberts will continue to serve on the AWI Board. Mr. Peppet was one of six new Board Members named to the new AWI Board effective October 2, 2006.
Mr. Peppet, who has considerable experience in business strategy and corporate finance said, “I was particularly impressed with how Armstrong has made significant operational and financial improvements after several years of restructuring. These improvements provided AWI with the opportunity to grow and strengthen its business.” Mr. Peppet added, “I look forward to working with Mr. Lockhart and the new nine-member Board of Directors to help AWI grow and remain competitive in the building materials business, while at the same time increasing shareholder value.”

Mr. Peppet spent 28 years with KPMG Peat Marwick holding various positions including Vice Chairman, Management Consulting. Mr. Peppet then moved into the private equity field, as Vice Chairman and principal at Quirk Carson Peppet Inc., as a principal at Churchill Capital, Inc., and as a consultant to Park Avenue Equity Partners before joining that firm as a partner. Mr. Peppet is also a Managing Director of both Source Companies, LLC and de Visscher & Co. Mr. Peppet has also served on the boards of numerous other private and public companies as well as the Executive Council for Foreign Diplomats, and as Chairman of American Field Services (AFS–USA) for 6 years. He is also actively involved in the Fairfield County Microenterprise Investors Council (FCMIC), a group that is involved in establishing microenterprise loan programs in Ecuador, Chile and the Dominican Republic. He holds a BS from Michigan State University and an MBA from Northwestern University.

ABOUT BGA

Business Growth Alliance, LLC (BGA) is a National Network of seasoned, professional services firms, which are dedicated to providing growth advisory and investment banking services to middle market and family-owned companies and their principals. In addition to their core growth advisory and investment banking services, BGA Member Firms collaborate to address the strategic growth, capital formation, owner liquidity, and governance needs of such businesses and their owners. The eight Founding Affiliate Members of BGA include: de Visscher & Co., Source Companies, LLC, yet2.com, The Pursuit Group, Tenzing Consulting, Value Defined Middle Market, LLC, Asher Training, and US China Business Solutions Inc. More information concerning BGA can be found on its website: www.bgallc.net.
ABOUT ARMSTRONG
Armstrong World Industries, Inc. is a global leader in the design and manufacture of floors, ceilings and cabinets. In 2005, Armstrong's net sales totaled nearly $4 billion. Based in Lancaster, PA, Armstrong operates 43 plants in 12 countries and has approximately 14,800 employees worldwide.

To Contact BGA:

Manning J. O’Connor II
Executive Director
Business Growth Alliance, LLC
1606 Carmody Court
Blaymore 1, Suite 300
Sewickley, PA 15143
Telephone 1+ (724)-933-6650
Fax 1+ (724) 933-6099
email: moconnor@bgallc.net
www.bgallc.net