Mueller Water Products Announces Closure of James Jones El Monte, Calif. Plant

TAMPA, Fla., Oct. 24 /PRNewswire-FirstCall/ -- Mueller Water Products, Inc. today announced the closure of its James Jones manufacturing facility in El Monte, Calif. James Jones will move the production of its brass products to Mueller Co.'s Decatur, Ill. brass foundry, which is being upgraded to include new, no-lead production lines. James Jones will transfer its hydrant assembly function to Mueller Co.'s Albertville, Ala. plant.

The El Monte manufacturing facility is expected to close by June 2007. Approximately 155 employees will be affected by this announcement. Informational meetings with affected employees were held on Oct. 24. A small number of employees may be added in Decatur to accommodate the additional production.

About Mueller Water Products

Mueller Water Products is a majority-owned subsidiary of Walter Industries, Inc. with annual revenues of approximately $1.9 billion. The Company is comprised of three main operating segments: Mueller Co., U.S. Pipe and Anvil. The Company is a leader in water infrastructure, flow control and water transmission products. Based in Tampa, Fla., the Company employs approximately 7,000 people. For more information about Mueller Water Products, please visit the Company's Web site at http://www.muellerwaterproducts.com/.

Safe Harbor Statement

Except for historical information contained herein, the statements in this document are forward-looking and made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties that may cause the Company's actual results in future periods to differ materially from forecasted results. Those risks include, among others, changes in customers' demand for the Company's products, changes in raw material, labor, equipment and transportation costs and availability, changes in weather conditions, interest rate fluctuations, changes in customer orders, pricing actions by the Company's competitors and general changes in economic conditions. Those risks also include the timing of and ability to execute on any strategic action that may be pursued. Risks associated with forward-looking statements are more fully described in the Company's filings with the Securities and Exchange Commission. The Company assumes no duty to update its outlook statements as of any future date. This release includes certain non-GAAP financial measures, including Adjusted EBITDA.