EXHIBIT 99.1
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BMCA                                                   NEWS
Building Materials                 1361 Alps Road, Wayne, NJ 07470  973 628-3000
Corp. of America
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        BUILDING MATERIALS CORPORATION OF AMERICA ANNOUNCES EXTENSION OF
        EXPIRATION DATE OF ITS CASH TENDER OFFER AND CONSENT SOLICITATION

NEW YORK - January 18, 2007- Building Materials Corporation of America ("BMCA")
and Building Materials Manufacturing Corporation ("BMMC," and together with
BMCA, the "Purchasers") announced today that, in connection with BMCA and BMMC's
previously announced tender offer (the "2007 Offer") to purchase for cash all of
their outstanding 8% Senior Notes due 2007 (the "2007 Notes") and BMCA's
previously announced tender offer (the "2008 Offer" and, together with the 2007
Offer, the "Offers") to purchase for cash all of its outstanding 8% Senior Notes
due 2008 (the "2008 Notes," and together with the 2007 Notes, the "Notes") as
well as the related consent solicitations to amend each of the indentures
governing the 2007 Notes and the 2008 Notes, it is extending the expiration date
of the Offers to 12:00 midnight, New York City time on February 14, 2007, unless
further extended or earlier terminated.

Based on this expiration date, the price determination date will be 2:00 p.m. on
the second business day preceding the expiration date, February 12, 2007. The
Purchasers will publicly announce the pricing information by issuing a news
release prior to 9:00 a.m. New York City time on the day following the price
determination date.

Bear, Stearns & Co. Inc. and Deutsche Bank Securities are acting as Dealer
Managers and Solicitation Agents in connection with the tender offers and
consent solicitations. Questions about the tender offers and consent
solicitations may be directed to the Global Liability Management Group at Bear,
Stearns & Co. Inc. at (877) 696-2327 (toll free), the High Yield Capital Markets
Group at Deutsche Bank Securities Inc. at (800) 553-2826 (toll free), or to D.F.
King & Co. Inc., the Information Agent for the tender offers and consent
solicitations, at (212) 269-5550 (collect) or (800) 628-8536 (toll free).

A more comprehensive description of the tender offers and consent solicitations
can be found in the Purchasers' Offer to Purchase and Consent Solicitation
Statement and the related Consent and Letter of Transmittal dated December 20,
2006. Copies of these documents and other related documents can be obtained from
the Information Agent.

This press release is neither an offer to purchase nor a solicitation of an
offer to sell securities and no recommendation is made as to whether or not
holders of the Notes should tender their securities pursuant to the tender
offers. The tender offers are made only by the Offer to Purchase and Consent
Solicitation Statement dated December 20, 2006.

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BMCA INFORMATION

Building Materials Corporation of America, which operates under the name of GAF
Materials Corporation, is an indirect subsidiary of G-I Holdings Inc. With
annual sales in 2005 approximating $2.0 billion, BMCA is North America's largest
manufacturer of residential and commercial roofing products and specialty
building products.

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FORWARD-LOOKING STATEMENTS

This release contains some forward-looking statements as defined by the federal
securities laws which are based on our current expectations and assumptions,
which are subject to a number of risks and uncertainties that could cause actual
results to differ materially from those anticipated, projected or implied. We
undertake no obligation to publicly update any forward-looking statements,
whether as a result of new information, future events or otherwise.
















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