Exhibit 99.1

FOR IMMEDIATE RELEASE                       Contact: Anthony Navitsky
JANUARY 25, 1999                                    312.906.9700        


        FALCON BUILDING PRODUCTS ACQUIRES THE PENN VENTILATION COMPANIES
               ADDS LEADING FAN MANUFACTURER TO GROWING PORTFOLIO

Chicago, IL. . . . Officials at Falcon Building Products, Inc. announced today
that its Hart & Cooley, Inc. subsidiary has completed the acquisition of the
assets and business of The Penn Ventilation Companies, Inc., headquartered in
Philadelphia, Pennsylvania.

Founded in 1928, Penn Ventilation is a leader in air moving and control
equipment for commercial and industrial applications. The company's extensive
product line includes centrifugal and axial fans, gravity ventilators, dampers
and louvers marketed under the Penn, Barry Blower and Supreme labels.

Hart Cooley, Inc. is a leading manufacturer of heating, ventilation and air
conditioning (HVAC) products located in Holland, Michigan. The acquisition is a
strategic addition to the Hart & Cooley, Inc. family of products, broadening the
company's presence in key commercial HVAC markets.

"The Penn acquisition is consistent with our strategic objective to add quality
business with complementary product lines and distribution channels to our
existing business," said William K. Hall, Chairman and CEO of Falcon. "Penn
Ventilation will significantly enhance Hart & Cooley's growth in commercial and
industrial ventilation markets."

Penn Ventilation has manufacturing plants in Tabor City, North Carolina;
Junction City, Kentucky; Fridley, Minnesota; and Banning, California with
additional distribution facilities in Reno, Nevada and Farnham, Quebec, Canada.



In addition to Hart & Cooley, Inc., Falcon Building Products owns Devilbiss Air
Power Company, a leading manufacturer of air compressors, pressure washers,
electric generators and air-powered hand tools headquartered in Jackson,
Tennessee; and the Columbus, Ohio-based

                                     (more)
Mansfield Plumbing Products, Inc., manufacturer of high quality plumbing
fixtures for the residential construction and remodeling markets. Privately-held
Falcon Building Products, with annual sales exceeding $800MM, is headquartered
in Chicago, Illinois.


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