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June 20, 2004 9:01 AM
National Gypsum Asbestos Bankruptcy Claims Settlement Announced

 1. Who is National Gypsum? 
Incorporated in Delaware in 1925
Manufacturer and supplier of services for the building and construction industry 
Miner of asbestos fibers
Popular trade name: Gold Bond Products
Asbestos products types – drywall, joint compounds, textures, shingles, cement boards, adhesives, acoustical plaster, fireproofing, insulation cement, raw asbestos fiber (See product list attached). 

2. Claims deadline: 
(a) February 2, 2006 for “BI Settlement Claims” - unresolved but settled claims, i.e., clients with a previously submitted but not yet paid claim against National Gypsum or ACMC.
(b) SOL for other asbestos claims – the applicable federal, state and foreign statute of limitations and repose for the Applicable Jurisdiction, (Applicable Jurisdiction – (a) where the claimant has filed a lawsuit against AMCF F/K/A. NGC, or a co-defendant, or (b) where no lawsuit is filed, state in which claimant was exposed to NGC products or the state where claimant resides.) 
(c) SOL tolling – Statute of Limitations of the Applicable Jurisdiction is tolled:
1) June 16, 2000 through November 2, 2004
2) For cases filed against a co-defendant in tort system prior to June 16, 2000, from date case was filed against a co-defendant in the tort system through date case is resolved, either through litigation or settlement, and 
3) From date a claim is filed with the NGC Bodily Injury Trust until (x) 180 days after offer is made to Claimant by Trust or (y) 90 days after claimant rejects an award in non-binding arbitration.
4) For Asbestos Claims first diagnosed after June 16, 2000, claim must be filed no later than three (3) years after the later of the expiration of tolling period set forth in (1) above or the date of diagnosis of asbestos-related disease.

3. Where to get forms and filing instructions: 
http://www.NGCBITrust.org or by requesting paper copies by regular mail through: The NGC Bodily Injury Trust, P. O. Box 1299, Greenville, Texas 75403-1299. 

4. Law firm registration process: 
Law firms register to obtain official paper claim forms or file Asbestos Claims electronically through the NGC Bodily Injury Trust. Law Firm registration instructions available at website and address listed above. Registered Law Firms receive claim forms embedded with Law Firm and Attorney/Contact codes. 

5. Claims filing options ERC or IRC: 
Expedited Review Claim (ERC) – less stringent requirements than IRC, placed first in line for review, amount lower than IRC amount and, (b) Individualized Review Claim (IRC) – amount potentially higher than ERC, requirements more strict than ERC. 

6. Values on Payment Schedule: 
(a) Total to be Paid – ALVs range between $485 (non-malignant III) to $40,629 (mesothelioma). [See attached “Exhibit 1” page for specific ALVs]. Claims paid at applicable NGC Bodily Injury Trust Payment Percentage, (a percentage of their allowed amount – “ALV”). Example, if the payment percentage is set at 25% and the claim were allowed for $1000, the claimant would receive payment from the Trust in the amount of $250. The payment percentage will be recalculated every two years. 

(b) Installment and Payment Schedule - During first 30 months Trust accepts claims, Trust may make initial distributions of 75% of payment percentage, but no later than 31 months after NGC Trust begins making payments, second payments will be made based on payment percentage then in effect, minus amount of previous payment. Process insures that over a 31 month period claimants will receive amount equal to the total amount which they are entitled to based on the payment percentage in effect at the time the second payment is made

(c) Priority of Payment - BI Settlement Claims will be reviewed and paid prior to new claimants filing at the same time who elect IRC. Allowed value (ALV) of the claim will be ACMC’s share of the amount payable to the claimant by CCR under the BI settlement agreement. (See CRP, 3.4 BI Settlement Agreements, 3.4a – 3.4c for additional details.) BI Settlement Claims will be paid in one lump sum.

7. National Gypsum Bankruptcy History:
Filed bankruptcy October 28, 1990. 
Plan or reorganization was approved in March 1993. Under the 1993 plan, NGC was renamed Asbestos Claim Management Corporation (“ACMC”). 1993 plan established the NGC Settlement Trust to resolve and fund asbestos bodily injury and property damage claims. 
After the bankruptcy, ACMC remained subject to the tort system and was represented by Center for Claims Resolution (“CCR“) and claims were resolved through CCR. 
In 1997 it became apparent that NGC Settlement Trust would not have sufficient funding to pay all claims projected in the future. 
On June 16, 2000 ACMC withdrew from CCR. Pursuant to 1993 plan, withdrawal from CCR automatically enjoined commencement of future lawsuits against ACMC by Asbestos Claimants and tolled applicable statue of limitations related to Asbestos Claims.
On August 19, 2002, ACMC filed its original Plan of Reorganization under chapter 11 of the Bankruptcy Code. 
Plan confirmed on August 6, 2003 
Claims materials were released on February 27, 2004.

8. Who to contact for help at Motley Rice LLC:
For general information or questions contact Melissa Spann, Senior Claims Administrator at 843-216-9562. Key documents are posted on our website: http://motleyrice.com/bankruptcy/bankruptcy documents 

Exhibit 1 to Claims Resolution Procedures
December 12th, 2002

Annual Inflation = 2.5%

Court-Approved Average ALV 2003 Inflation Adjusted Average ALV
All Occupations All Occupations
Mesothelioma $40,629 $43,753
Lung Cancer $6,879 $7,408
Other Cancer $2,909 $3,133
Non-Malignant I $1,781 $1918
Non-Malignant II $900 $969
Non-Malignant III $450 $485
Inflation Factor 1.07689


ALV for ERC
Minimum ALV-IRC Baseline ALV-IRC Maximum ALV Extraordinary Claims Only
All Occupations All Occupations All Occupations
Factor of Average 50% 100% 400%
Mesothelioma $22,500 $45,000 $180,000
Lung Cancer $3,750 $7,500 $30,000
Other Cancer $1,600 $3,200 $12,800
Non-Malignant I $1,000 $2000 $8000
Non-Malignant II $500 $1000 $4000
Non-Malignant III $250

NOTE: Non-Malignant III Claims may only be allowed as Expedited Review Claims (“ERC”).

NATIONAL GYPSUM COMPANY PRODUCT LIST

Gold Bond Asbestos Cement Board (1943-1953)
Gold Bond All Weather Caulking Compound (1960-1974)
Asbestos Cement Siding Shingles (1953-1981)
Gold Bond Asbestone Panels (1941-1981)
Gold Bond Ceiling Tiles and Panels (1957-1979)
Gold Bond Canal Bulkheading (1959-1981)
Gold Bond Corrugated “Economy 250” Asbestos Cement Sheet (1954-1981
Gold Bond Corrugated “400” Siding and Roofing Material (1954-1981) 
Gold Bond Insul-Best Panels (1958-1960)
Gold Bond Mortar Mix (1954-Early 1970s)
Gold Bond Permaboard (1954-1981)
Gold Bond Acoustical Plaster (1949-1962)
Gold Bond Exterior Stucco (1930-1949)
Thermacoustic (1949-1963)
Gold Bond Pliaboard (1954-1960)
Gold Bond Plia-Flex (1960-1981)
Gold Bond Plasti-Clad (1960s-1981)
Gold Bond Plasticrylic (1960-1981) 
Gold Bond Thermotec Asbestos Cement Sheets (1960-1981)
Gold Bond Woodrock Battens, Panels and Siding (1963-1976)
Gold Bond No. 340 Insulating Cement (1941-1957)
Gold Bond Color Textures (Late 1930s-1976)
Gold Bond Texture (Late 1930s-1976)
Gold Bond Texas Texture (Late 1930s-1976)
Gold Bond E-Z Tex (Late 1930s-1976)
Gold Bond Velvet Texture A.R. (Late 1930s-1976)
Gold Bond super Westex (Late 1930s-1976)
Gold Bond Vinyl Texture (Late 1930-1976)
Gold Bond Decorite (Late 1930s-1976)
Gold Bond Shadowall (Late 1930s-1976)
Gold Bond Craftex (Late 1930s-1976)
Gold Bond Velvet White Super Spray (1959-1972)
Gold Bond Spray Quick (1959-1972)
Gold Bond Spray Quick A (1959-1972)
Gold Bond Velvet Spray Quick Texture (1959-1972)
Gold Bond E-Z Spray Texture (1959-1972)
Gold Bond Joint Cement (1935-1975)
Gold Bond Crown Coat Cement (1935-1975)
Gold Bond All-Purpose Joint Cement (1935-1975)
Gold Bond All-Purpose Joint Compound (1935-1975)
Gold Bond Tri-Treatment Joint Cement (1935-1975)
Gold Bond Tri-Treatment Joint Compound (1935-1975)
Gold Bond Finisher (1935-1975)
Gold Bond Joint Compound (1935-1975)
Gold Bond Quick-Treat Joint Compound (1935-1975)
Gold Bond Triple T Compound (1935-1975)
Gold Bond Sta-Smooth Compound (1935-1975)
Gold Bond Velvet Joint Compound (1935-1975)
Gold Bond Two-in-One Compound (1935-1975)
Gold Bond Thermo Weld Compound (1935-1975)
Gold Bond Quick Weld or Q-W Compound (1935-1975)
Gold Bond Ready Mixed Joint Cement (1950s-1975) 
Gold Bond Ready Mixed Joint Compound (1950s-1975)
Gold Bond Topping Cement (1950s-1975)
Gold Bond Topping Compound (1950s-1975)
Gold Bond Velvet Topping Compound (1950s-1975)
Gold Bond Ready Mixed Compound (1950s-1975)
Gold Bond Vinyl Topping Compound (1950s-1975)
Gold Bond Spackling Paste (1950s-1975)
Gold Bond Laminating Adhesive (1953-1956)
Gold Bond Laminating Adhesive A (1970-1974)
Gold Bond Patching Plaster (1936-1969)
Gold Bond Perfo-Lyte or Perfolite (1955-1972)
Gold Bond Rockwall Acoustic Plaster (1936-1940)
Gold Bond Spray-On Acoustical Plaster (1955-1956)
Gold Bond Sprayolite (1956-1972)
Rockwool Insulating Cement (1941-1957)
Wesco Joint Treatment (1935-1975)
Asbestos Fiber (1958-1974)
Asbestos-Faced Mineral Wool Insulation Board (1944-1945)
Asbestos jackets for pipe covering (1941-1943)
Gold Bond Wood Fibered Plaster (1930’s-1971)
Gold Bond Cover Crete (1949-1965)
Gold Bond Fire-Shield Plaster (1959-1970)
Gold Bond Macoustic (1933-1949)
Gold Bond High Humidity Acoustical Plaster (1955-1956)
Sprayed “Limpet” Asbestos (1945-1949)
Rockwall Acoustic Plaster (mid 1930’s)
Hexagonal Shingles (1954-1969)
Asbestibel Panel (1958-1981)
Humiguard Panel (1958-1981)
Soffit Panel (1959-1981)
Asbesto-Grid Panel (1960’s)
Classic Shake Siding (1958-1981)
Classic “32” Siding (1966-1977)
Chromatone Siding (1956-1968)
Chromashake Siding (1950-1969)
Chromatex Siding (1954-1981)
Woodgrain Siding (1954-1981)
Perforated Panel (1941-1981)
Unperforated Panel (1958-1981)
Dutch Lap Shingles (1954-1969)
Ranch Style Shingles (1956-1969)
Deeptex Siding (1957-1969)
Exterior Foam Core Panels (1960)
Sussex “32” Siding (1957-1969)
Paints (sold under various names) (Late 1930’s-960’s)
Panelectric groove fill (1969-1972)
Asbestos stripping tape (1944-1945)

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