Walter Industries, Inc. News

Walter Industries Announces Its Addition to Russell 1000 Index

TAMPA, Fla., July 1 PRNewswire-FirstCall — Walter Industries, Inc. (NYSE: WLT), one of the world's leading producers and exporters of metallurgical coal, announced today that it was added to the U.S. large-cap Russell 1000 Index after the equity markets closed on June 27 as Russell Investments reconstituted its comprehensive family of global indexes. Membership in the Russell 1000, which remains in place for one year, is based on membership in the broad-market Russell 3000 Index. The stock also was automatically added to the appropriate growth and value indexes.

"The addition of Walter Industries to the Russell 1000 is the result of excellent performance in our stock price and is illustrative of the strength of metallurgical coal prices and the market's confidence in our expansion plans at our Natural Resources business," said Walter Industries Chairman Michael T. Tokarz.

Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for both passive and active investment strategies. An industry-leading $4.4 trillion in assets currently are benchmarked to them. These investment tools originated from Russell's multi-manager investment business in the early 1980s when the company saw the need for a more objective, market-driven set of benchmarks in order to evaluate outside investment managers.

About Walter Industries

Walter Industries, Inc., based in Tampa, Fla., is a leading producer and exporter of metallurgical coal for the global steel industry and also produces steam coal, coal bed methane gas, furnace and foundry coke and other related products. The Company also operates a mortgage financing and affordable homebuilding business. The Company has annual revenues of approximately $1.2 billion and employs approximately 2,500 people. For more information about Walter Industries, please visit the Company Web site at www.walterind.com .

About Russell

Russell Investments aims to improve financial security for people by providing strategic advice, world-class implementation, state-of-the-art performance benchmarks, and a range of institutional-quality investment products. With more than $213 billion in assets under management, Russell serves individual, institutional and advisor clients in more than 40 countries. Russell provides access to some of the world's best money managers. It helps investors put this access to work in corporate defined benefit and defined contribution plans, and in the life savings of individual investors. Headquartered in Tacoma, Wash., Russell has principal offices in Amsterdam, Auckland, Hong Kong, Johannesburg, London, Melbourne, New York, Paris, San Francisco, Seoul, Singapore, Sydney, Tokyo and Toronto.