ASD Amer Standard CO

American Standard Outlines Plans for Strong Long-Term Growth at Meeting With Analysts and Investors PISCATAWAY, N.J., Feb. 24 /PRNewswire-FirstCall/ -- At a meeting with analysts and investors today, American Standard Companies Inc. (NYSE:ASD) business leaders will outline the company's long-term strategies for continued strong sales and earnings growth, productivity and cash flow. As described more fully in the meeting presentation charts, over the next four years American Standard expects annual sales growth to be 6-7 percent, with operating margin up 0.5 percentage points year over year and annual earnings per diluted share growth in the 15-20 percent range. Fred Poses, chairman and CEO, and other company leaders will discuss strategies for each of the businesses: * Air Conditioning Systems and Services -- The "life of the building," including systems, controls, services and industry-specific offerings for commercial customers and the ideal home environment for residential customers. * Bath and Kitchen -- "Total bathroom" innovations, including water- saving toilets, easy-to-clean sinks and new showering systems as well as productivity initiatives around the world. * Vehicle Control Systems -- The "life of the vehicle," including expanded global penetration and increased content for trucks, buses, trailers, cars and SUVs. For 2005, the company will announce that it expects results for the first quarter at the top end of its previously announced earnings range, excluding the impact, if any, of legal matters described below. On Feb. 1, the company estimated first quarter earnings in the range of 44-47 cents per diluted share. At the meeting, the company also will reaffirm its full-year 2005 guidance of 6-7 percent sales growth and earnings of $2.60-$2.75 per diluted share. In addition, the company is reporting several recent legal developments. The company believes that resolution of these matters, individually or in total, will not have a material adverse effect on the financial condition or liquidity of the company. However, the resolution could be material to the company's operating results for the quarter in which the liability, if any, would be recognized. As previously announced in November 2004, the European Commission contacted the company as part of an industry-wide investigation into alleged infringement of European Union competition regulations related to bath and kitchen fixtures and fittings in certain European countries. Earlier this month, the company was named as a defendant in several lawsuits filed in U.S. federal court in Pennsylvania and in various state courts in California alleging that the company and some of its competitors conspired to fix prices for bathroom fixtures and fittings in the U.S. On Feb. 23, the company received a grand jury subpoena from the Antitrust Division of the U.S. Department of Justice seeking information primarily related to the sale and marketing of bathroom fittings by its European affiliates from January 1997 to the present. In addition, on Feb. 16, the French competition authority sent a notice to the company alleging that more than 100 separate enterprises, including a bath and kitchen subsidiary of the company, had violated French competition regulations during the period from 1993 to 1998. The company is cooperating fully with all government investigations and will vigorously defend itself against the lawsuits. The meeting will be webcast on American Standard Companies' Web site at http://www.americanstandard.com/, beginning at 8 a.m. (EST). The meeting presentation charts will be posted to the site. The audio portion of the meeting is accessible by dialing (913) 981-5535. Participants are advised to call five to 10 minutes prior to the scheduled start time. The number of telephone connections is limited. A replay of the call will be available from 1 p.m. (EST) on Friday, Feb. 25 until 11:59 p.m. (EST) on Friday, March 4. The replay dial-in number is (402) 220-2577. Comments in this news release contain certain forward-looking statements, which are based on management's good faith expectations and belief concerning future developments. Forward-looking statements can be identified by the use of words such as "believe," "expect," "plans," "strategy," "prospects," "estimate," "project," "anticipate," "intends" and other words of similar meaning. Actual results may differ materially from these expectations as a result of many factors including (i) pricing changes to materials used to produce its products and the ability to offset those changes through price increases; (ii) changes in U.S. or international economic conditions, such as inflation and interest rate and exchange rate fluctuations; and (iii) the actual level of construction activity in the company's end-markets. Additional factors that could cause actual results to differ materially from expectations are set forth in the company's 2003 Annual Report on Form 10-K and in the "Management's Discussion and Analysis" section of the company's Quarterly Reports on Form 10-Q. American Standard does not undertake any obligation to update such forward-looking statements. American Standard is a $9.5 billion global manufacturer with market leading positions in three businesses: air conditioning systems and services, sold under the Trane(R) and American Standard(R) brands for commercial, institutional and residential buildings; bath and kitchen products, sold under such brands as American Standard(R) and Ideal Standard(R); and vehicle control systems, including electronic braking and air suspension systems, sold under the WABCO(R) name to the world's leading manufacturers of heavy-duty trucks, buses, SUVs and luxury cars. The company employs approximately 61,000 people and has manufacturing operations in 28 countries. American Standard is included in the S&P 500. Additional information is available at http://www.americanstandard.com/. U.S. callers can listen to the latest news release and other corporate information by dialing (888) ASD-NEWS. DATASOURCE: American Standard Companies Inc. CONTACT: Reporters: Lisa Glover, +1-732-980-6048, , or Shelly London, +1-732-980-6175, , or Investors and financial analysts may contact: Bruce Fisher, +1-732-980-6095, , or Todd Gleason, +1-732-980-6399, , all for American Standard Companies Inc. Web site: http://www.americanstandard.com/

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