American Standard Companies Announces Completion of Sale of Bath and Kitchen Business to Bain Capital

American Standard Companies Announces Completion of Sale of Bath and Kitchen Business to Bain Capital

November 01, 2007

American Standard Companies Board Authorizes Share
Repurchase

    PISCATAWAY, N.J., Nov. 1 /Xinhua-PRNewswire/ --
American Standard Companies Inc. (NYSE: ASD) today
announced completion of the sale of its global Bath and
Kitchen products business to funds advised by Bain Capital
Partners, LLC, a leading private investment firm, for
$1.745 billion including closing adjustments.  A definitive
sales agreement had been announced on July 23, 2007.  

    The Bath and Kitchen products business had 2006 sales
of $2.4 billion, 26,000 employees and production facilities
in 23 countries worldwide.  The business manufactures and
markets industry-leading products under brand names such as
American Standard(R), Ideal Standard(R), Armitage Shanks(R),
Porcher(R), Jado(R), Ceramica Dolomite(R) and Vidima(R).  

    "Bath and Kitchen is a business with the size,
global reach, market leadership and organizational talent
to drive future success.  The all-cash payment for Bath and
Kitchen provides excellent value for our shareowners, and
the net proceeds met our expectations.  Now we will focus
on our global Air Conditioning Systems and Services
business, which has leading market positions in commercial
and residential markets. Before the end of the year, we
will move forward with changing our name to Trane,"
said Fred Poses, American Standard Companies chairman and
CEO.  

    Combined with the March 2007 sale of Venesta Washroom
Systems, American Standard Companies' gross proceeds from
the sale of Bath and Kitchen now total $1.91 billion.  The
Venesta sale and the sale to Bain Capital each resulted in
an accelerated pension payment of about $26 million. 

    American Standard Companies intends to use the net
proceeds after expenses and taxes to repurchase common
stock and reduce debt to keep the company at
investment-grade standards.  The company's board of
directors has authorized an additional $750 million for the
repurchase of common stock through December 2008.  The
company may repurchase these shares through one or more
Rule 10b5-1 trading plans.  These plans would allow the
company to repurchase shares when ordinarily prevented from
doing so because of self-imposed trading blackout periods or
possible possession of material non-public information.

    With the purchase, Bain Capital acquires ownership and
use of the American Standard brand for bath and kitchen
products.  Trane will retain the American Standard brand
name for heating, ventilating and air conditioning (HVAC)
and related products. 

    American Standard Companies' financial advisor for the
Bath and Kitchen sale was Lazard.  Skadden, Arps and Baker
& McKenzie served as legal counsel.  For Bain Capital,
Bank of America, N.A. and Credit Suisse led the financing,
Lehman Brothers acted as financial advisors, Kirkland &
Ellis LLP served as legal counsel, and
PricewaterhouseCoopers provided transaction advisory
services.

    ABOUT AMERICAN STANDARD COMPANIES

    On Feb. 1, American Standard Companies announced plans
to separate its three businesses.  Since then, the company
has completed the spinoff of its Vehicle Control Systems
business as an independent company known as WABCO (NYSE:
WBC) and today has sold its Bath and Kitchen business to
funds advised by Bain Capital Partners, LLC.  To reflect
its focus on the Air Conditioning Systems and Services
business, the company plans to change its name to Trane by
year-end.  In 2006, Air Conditioning Systems and Services,
sold under the Trane(R) and American Standard(R) brands,
generated revenues of $6.8 billion with 29,000 employees.

    ABOUT BAIN CAPITAL PARTNERS

    Bain Capital (http://www.baincapital.com) is a global
private investment firm that manages several pools of
capital including private equity, high-yield assets,
mezzanine capital and public equity with approximately $50
billion in assets under management. Since its inception in
1984, Bain Capital has made private equity investments and
add-on acquisitions in over 250 companies around the world,
including such leading companies as Dunkin' Brands, Sealy,
Toys "R" Us, Michaels Stores, Burger King,
SigmaKalon, Bombardier Recreational Products, Samsonite,
Sensata Technologies and Staples.  Headquartered in Boston,
Bain Capital has offices in New York, London, Munich, Hong
Kong, Shanghai and Tokyo.

    Comments in this news release contain certain
forward-looking statements, which are based on management's
good faith expectations and belief concerning future
developments.  Forward-looking statements can be identified
by the use of words such as "believe,"
"expect," "plans,"
"strategy," "prospects,"
"estimate," "project,"
"anticipate," "intends" and other words
of similar meaning.  Actual results may differ materially
from these expectations.  American Standard does not
undertake any obligation to update such forward-looking
statements. 

    Additional information is available at
http://www.americanstandard.com. 


    For more information, please contact:

    Media:

     American Standard

     Skip Colcord
     Phone: [phone]
     Email: [e-mail]

     Shelly London
     Phone: [phone]
     Email: [e-mail]

     Stanton Crenshaw Communications

     Alex Stanton 
     Phone: [phone]
     Email: [e-mail]

    Investors and financial analysts: 

     Bruce Fisher 
     American Standard
     Phone:  [phone]
     Email: [e-mail]