Exhibit 99.1

     WALTER INDUSTRIES NAMES JOSEPH B. LEONARD AND MARK J. O'BRIEN TO BOARD
                                  OF DIRECTORS

TAMPA, Fla., May 26 /PRNewswire-FirstCall/ -- Walter Industries, Inc. (NYSE:
WLT) announced today that Joseph B. Leonard, Chairman and Chief Executive
Officer of AirTran Holdings, Inc. (NYSE: AAI) and Mark J. O'Brien, President and
Chief Executive Officer of Brier Patch Capital and Management, Inc. and retired
President and Chief Executive Officer of Pulte Corporation, have been named to
the Board of Directors of Walter Industries. Their appointments will take effect
on June 23, 2005.

"Joe and Mark are exceptionally well-qualified," said Don DeFosset, Chairman and
Chief Executive Officer. "I'm thrilled that they will be joining our Board.
These appointments continue our tradition of strong, independent outside
directors."

Mr. Leonard has been chairman and chief executive officer of AirTran Holdings,
Inc. since January 1999. Prior to joining AirTran, Mr. Leonard held a wide range
of executive positions. These included chief executive officer of Allied
Signal's aerospace marketing, sales and service organization, chief operating
officer for Eastern Air Lines, as well as a number of key management positions
at American Airlines, Northwest Airlines and the Boeing Company. Mr. Leonard
received a bachelor's degree in aerospace engineering from Auburn University.

Mr. O'Brien currently serves as President and Chief Executive Officer of Brier
Patch Capital and Management, Inc., a real estate investment firm. Mr. O'Brien
served in various capacities at Pulte for 21 years, culminating in his
appointment as President and Chief Executive Officer. He retired from that
position in 2003. Mr. O'Brien received a bachelor's degree in history from the
University of Miami.

Walter Industries, Inc. is a diversified company with revenues of $1.5 billion.
The Company is a leader in affordable homebuilding, related financing, and water
transmission products, and is a significant producer of high-quality
metallurgical coal for worldwide markets. Based in Tampa, Fla., the Company
employs approximately 5,100 people. For more information about Walter
Industries, please call Joe Troy, Senior Vice President-Financial Services at
(813) 871-4404, or visit the Company Web site at http://www.walterind.com .

SOURCE  Walter Industries, Inc.
    -0-                             05/26/2005
    /CONTACT:  Joe Troy, Senior Vice President-Financial Services, Walter
Industries, +1-813-871-4404/
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    /Web site:  http://www.walterind.com /