EXHIBIT 99.1

FOR IMMEDIATE RELEASE                             Contact:
- ---------------------
Tuesday, September 20, 2005                       John F. Rebele
                                                  Senior Vice President
                                                  Chief Financial Officer and
                                                  Chief Administrative Officer

                                                  Building Materials
                                                  Corporation of America
                                                  (973) 628-4038

        BUILDING MATERIALS CORPORATION OF AMERICA LENDS ITS CEO TO THE
                            KATRINA RECOVERY EFFORT

         Wayne, NJ (Sept. 20, 2005) -- Building Materials Corporation of America
(BMCA) today announced that its President and CEO, William W. Collins, will take
a six-month leave of absence to serve as Senior Vice President, Katrina Recovery
and Industry Alliances, at Habitat for Humanity International starting in
mid-October. Samuel J. Heyman will serve as acting CEO during Collins' leave of
absence. Heyman served as CEO prior to Collins' election to the Company's top
post.

         "I am very thankful for BMCA's encouragement to take on this
initiative," Collins said. "There really is no better investment that a company
can make, for its own current and future employees, than to support housing
initiatives for the most needy." During his leave of absence, Collins will
formulate and execute an aggressive plan of recovery for Katrina victims and
build industry alliances to further Habitat's mission.

         "Habitat's goal of eliminating poverty housing and homelessness is a
noble one, all the more important in the wake of the devastation caused by
Katrina," said Heyman. "Lending Bill's enormous talents and broad experience in
the building materials industry to that effort is the best way we can help and
it reaffirms our Company's longstanding commitment to public service."

         Heyman added that it was possible for Collins to take this leave
without disruption to the Company because of the strong and capable team of
senior managers Collins has developed at BMCA. Heyman said, "I have complete
confidence in our accomplished team of senior managers. They are really the best
in the industry. I have asked Bob Tafaro, Executive Vice President for Roofing,
to become Chief Operating Officer reporting directly to me. In that capacity,
Bob will have day-to-day oversight of all of the Company's operating divisions."

         Building Materials Corporation of America, which operates under the
name GAF Materials Corporation, is an indirect subsidiary of G-I Holdings Inc.,
with annual sales of approximately $2 billion, and is North America's largest
manufacturer of residential and commercial roofing products and specialty
building products.