Formation of USG Corporation and Boral Limited Joint Venture Delayed Due to Regulatory Process

  Formation of USG Corporation and Boral Limited Joint Venture Delayed Due to
  Regulatory Process

Business Wire

CHICAGO -- January 27, 2014

USG Corporation (NYSE: USG) announced today that it and Boral Limited (ASX:
BLD) continue to progress toward completion of their 50/50 strategic joint
venture. While completion was originally anticipated to occur by January 31,
2014, it is now expected to occur on or before February 28, 2014, due to
additional time being necessary to obtain regulatory approvals.

About USG Corporation:

USG Corporation is a manufacturer and distributor of innovative,
high-performance building systems through its United States Gypsum Company,
USG Interiors, LLC, L&W Supply Corporation and other subsidiaries.
Headquartered in Chicago, USG’s Worldwide operations serve the commercial,
residential, and repair and remodel construction markets, enabling our
customers to build the outstanding spaces where people live, work and play.
USG wall, ceiling, exterior sheathing, flooring underlayment and roofing
systems provide leading-edge building solutions, while L&W Supply branch
locations efficiently stock and deliver building materials throughout the
United States. USG and its subsidiaries are proud sponsors of the U.S. Olympic
and Paralympic teams and the Canadian Olympic team. For additional
information, visit

This press release contains forward-looking statements within the meaning of
the Private Securities Litigation Reform Act of 1995 related to management’s
expectations about future conditions. Actual business, market or other
conditions may differ materially from management’s expectations and,
accordingly, may affect our sales and profitability or other results and
liquidity. Actual results may differ materially due to various other factors,
including: economic conditions, such as the levels of new home and other
construction activity, employment levels, the availability of mortgage,
construction and other financing, mortgage and other interest rates, housing
affordability and supply, the levels of foreclosures and home resales,
currency exchange rates and consumer confidence; capital markets conditions
and the availability of borrowings under our credit agreement or other
financings; our substantial indebtedness and our ability to incur substantial
additional indebtedness; competitive conditions, such as price, service and
product competition; shortages in raw materials; changes in raw material and
energy costs; volatility in the assumptions used to determine the funded
status of our pension plans; the loss of one or more major customers and our
customers’ ability to meet their financial obligations to us; capacity
utilization rates for us and the industry; our ability to expand into new
geographic markets and the stability of such markets; our ability to
successfully enter into and operate the joint venture with Boral Limited,
including risks that our joint venture partner, Boral Limited, may not fulfill
its obligations as an investor or may take actions that are inconsistent with
our objectives; our ability to protect our intellectual property and other
proprietary rights; changes in laws or regulations, including environmental
and safety regulations; the satisfactory performance of certain business
functions by fourth party service providers; our ability to achieve
anticipated savings from cost reduction programs; the outcome in contested
litigation matters; the effects of acts of terrorism or war upon domestic and
international economies and financial markets; and acts of God. We assume no
obligation to update any forward-looking information contained in this press
release. Additional information concerning these and other factors may be
found in our filings with the Securities and Exchange Commission, including
the “Risk Factors” in our most recent Annual Report on Form 10-K and Quarterly
Report on Form 10-Q.


USG Corporation
Robert Williams
(312) 436-4356
Matthew Ackley
(312) 436-6263
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