Fitch: U.S. Home Improvement Spending to Continue Falling; Teleconference Today 11AM

Business Wire,  March 19, 2008  

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NEW YORK & CHICAGO -- A weaker economy, declining home prices, tighter credit standards and high energy costs will continue to take a toll on home improvement spending, according to Fitch Ratings, which will be holding a conference call this morning at 11:00 a.m. ET to discuss the latest home improvement spending trends.

Director Robert Rulla will be the call leader and be joined in the presentation and Q&A by Managing Director Tom Razukas (tools, home furnishings) and Director Tiffany Co (home center retailers). Managing Director and lead homebuilding analyst Bob Curran will also be on hand for questions.

"Given the difficulties in the housing sector, some homeowners may be more cautious about investing in remodeling projects until there is a clear sign of home price stabilization," said Rulla. "Home improvement retailers will likely focus on strengthening their store bases and service levels to capture market share in the face of a challenging housing market."

Following are the details of this morning's teleconference:

-- Date: Wednesday March 19, 2008

-- Time: 11:00 a.m. ET

-- Conference ID: 39974269

-- U.S/Canada: +1-866-529-2924

-- International: +1-706-634-4949

-- Call Leader: Robert Rulla

Replay Information:

-- Replay Dates: March 19, 2008, 12:00 p.m. ET - April 19, 2008 at 11:59 p.m. ET

-- U.S./Canada: +1-800-642-1687

-- International: +1-706-645-9291

-- Replay ID: 39974269

The conference call coincides with the release of Fitch's special report, 'Tale of the 'Measuring' Tape, U.S. Home Improvement Industry', which is available on the Fitch Ratings web site at www.fitchratings.com under the following headers:

Corporate Finance Corporates Special Reports

Fitch's rating definitions and the terms of use of such ratings are available on the agency's public site, www.fitchratings.com. Published ratings, criteria and methodologies are available from this site, at all times. Fitch's code of conduct, confidentiality, conflicts of interest, affiliate firewall, compliance and other relevant policies and procedures are also available from the 'Code of Conduct' section of this site.

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