EXHIBIT 99.1

FOR IMMEDIATE RELEASE                           Contact:  Stan Steinreich
                                                --------
May 1, 2000                                     V.P. of Corporate Relations
                                                (717) 396-2169

                                                Tom Waters
                                                Director of Investor Relations
                                                (717) 396-2216

ARMSTRONG SHAREHOLDERS APPROVE CREATION
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OF HOLDING COMPANY
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NEW CORPORATE STRUCTURE WILL ENABLE GREATER FLEXIBILITY IN FINANCING AND
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DEVELOPING NEW BUSINESSES
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     LANCASTER, PA  -  Shareholders of Armstrong World Industries (NYSE: ACK)
today approved a plan to establish a holding company that will give the building
materials manufacturer greater financial and organizational flexibility to more
effectively compete in its global markets.

     The creation of a holding company was one of three key issues shareholders
approved at today's annual meeting. The other topics included changes to the
terms of the Management Achievement Plan and the re-election of three directors.

     The new entity will be called Armstrong Holdings, Inc. and will become the
parent company for Armstrong World Industries, which continues to have the same
operations, employees and assets as before. All current Armstrong common stock
will be exchanged for Holdings common stock on a share-for-share basis. The
corporate governance and dividend policy of the holding company are the same as
that of Armstrong World Industries.

     A holding company is a parent company that conducts no business operations
itself. It owns stock of operating subsidiaries and may own various investments.
Its sources of revenue are cash from its subsidiaries and earnings on any
investments it holds.

     A number of companies in the building materials industry are already
organized as holdings companies, including USG Corp. and American Standard
Companies Inc.

     "Holding companies are increasingly becoming the appropriate structure
through which global companies such Armstrong grow. The new structure will
better position us to compete more effectively in today's business environment,"
said Chairman and CEO George A. Lorch.


     Shareholders also voted on several changes to the company's Management
Achievement Plan covering performance criteria, eligibility to receive awards
under the Plan and the award maximum under the Plan. The major change in the
program will be a shift from using an Economic Value Added (EVA(R)) model as the
sole basis for determining awards under the Achievement Plan, to now also
include other performance criteria such as: cash flow, earnings, operating
income, return on shareholder's equity and sales. Management proposed the change
in order to supplement EVA(R) with other financial criteria that are also
directly aligned with investor evaluations of Armstrong's financial performance.

     In other action, shareholders re-elected three directors for terms expiring
in 2003: Van C. Campbell, 61, former vice chairman of Corning Inc.; John A.
Krol, 63, former chairman of E.I. duPont Nemours and Co.; and David W. Raisbeck,
50, vice chairman of Cargill, Inc.

     This news release contains forward looking statements related to future
sales growth and earnings.  Actual results could differ materially as a result
of known and unknown risks and uncertainties and other factors, including the
outcome of asbestos-related and other litigation, future sales growth resulting
from our investment in research and development, our success in the introduction
of new products, interest, foreign exchange and effective tax rates, impacts to
international operations caused by changes to intellectual property protections
or trade regulations, potential business combinations among our competitors or
suppliers, variations in raw material and energy costs, the strength of domestic
and foreign end-use markets,  product and price competition caused by factors
such as worldwide excess industry capacity, the political climate in emerging
markets,  and the successful integration of our 1998 acquisitions.  Additional
information on matters which could affect the company's financial results is
included in its 1999 annual report and form 10-K

     Armstrong World Industries is a global leader in the design, innovation and
manufacture of interior finishing solutions, most notably floors and ceilings.
Based in Lancaster, PA, Armstrong has approximately 18,000 employees worldwide.
In 1999, Armstrong's net sales totaled more than $3.4 billion. Additional
information about the company can be found on the Internet at www.armstrong.com.