All Shamrock Activist Value Fund, L.P. Nominees Decisively Elected to Texas Industries Board of Directors  

Texas Industries, Inc. (NYSE:TXI) shareholders today made it clear that they desired change at Texas Industries by electing all three Shamrock Activist Value Fund, L.P. nominees to the company’s board of directors and approving all three of the Shamrock Activist Value Fund, L.P.’s corporate governance shareholder proposals.

Shamrock Activist Value Fund, L.P. said that based on its preliminary calculations, Shamrock Activist Value Fund, L.P. nominees Marjorie L. Bowen, Dennis A. Johnson and Gary L. Pechota each were elected to Texas Industries’ nine-member board by a 4-to-1 margin.

"Our assessment also shows that shareholders overwhelmingly approved Shamrock Activist Value Fund, L.P.’s three corporate governance proposals, which called on the Texas Industries board of directors to promptly declassify the board and hold annual elections for all directors, to implement majority voting in uncontested director elections and to submit the company’s `poison pill’ to a shareholder vote,” said Mr. Johnson, managing director of Shamrock Capital Advisors, the investment advisor to the Shamrock Activist Value Fund.

"We believe that this resounding endorsement by our fellow shareholders provides a mandate to immediately seek to restore accountability and to change the status quo at Texas Industries. All of us are committed to working cordially and collaboratively with management and with our fellow directors to implement the corporate governance changes approved by the shareholders today, as well as other appropriate corporate governance improvements. We look forward to the opportunity to build value for the benefit of all Texas Industries shareholders,” he said.

Shamrock Activist Value Fund is one of five separate investment funds managed by Shamrock Capital Advisors, Inc., a subsidiary of Shamrock Holdings, Inc., the investment vehicle of the Roy E. Disney family. Together with its parallel investment vehicle, the Shamrock Activist Value Fund, L.P. owns 10.2% of Texas Industries shares.