American Biltrite Inc. (AMEX:ABL) reported its results for 2007 today. Net sales for the year ended December 31, 2007 were $420.7 million, down 3.4% from $435.5 million in 2006. The net loss for the year ended December 31, 2007 was $2.0 million or $0.58 per share (basic and diluted) compared with net income of $685 thousand or $0.20 per share (basic and diluted) in 2006.

American Biltrite’s consolidated results include the results of its 55% owned subsidiary Congoleum Corporation, which is in Chapter 11 bankruptcy reorganization proceedings. Under the terms of the pending proposed plan of reorganization for Congoleum, American Biltrite's ownership interest in Congoleum would be eliminated. Accordingly, American Biltrite believes its financial results excluding Congoleum to be the most meaningful presentation to investors. Excluding the results of Congoleum, American Biltrite’s net sales for the year ended December 31, 2007 were $216.5 million, up 0.2% from $216.1 million in 2006, and its net loss for the year ended December 31, 2007 was $1.3 million compared with a net loss of $18 thousand in 2006. Congoleum comprises American Biltrite's Flooring products division.

Roger S. Marcus, Chairman of the Board, commented, "Sales decreased at the Tape division, resulting in a loss for the division last year, due to lower shipments of products used in construction and automotive applications. Sales at the Canadian division increased due to the appreciation of the Canadian dollar versus the US dollar, but the effect of the exchange rate also depressed gross profit margins for 2007 due to the higher cost of goods sold and the division reported a loss. The jewelry division reported improved sales and profits as a result of increased mass merchandiser business.”

Warning regarding forward looking statements

The above news release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, that involve risks, uncertainties and assumptions. These forward-looking statements are based on American Biltrite's expectations, as of the date of this release, of future events. American Biltrite undertakes no obligation to update any of these forward looking statements. Although American Biltrite believes that its expectations are based on reasonable assumptions, within the bounds of its knowledge of its business and experience, there can be no assurance that actual results will not differ materially from expectations. Readers are cautioned not to place undue reliance on any forward-looking statements. Actual results could differ significantly as a result of various factors. For example, the above news release may imply that the pending proposed plan of reorganization for Congoleum will be confirmed and become effective. In fact, that plan will be subject to numerous conditions, approvals and other requirements, including the receipt of necessary creditor, claimant and court approvals. Further, certain insurers are contesting the plan in the bankruptcy court and Congoleum is involved in ongoing litigation against its insurers in a state court coverage action. In order to obtain confirmation of the plan Congoleum will need sufficient funds to pay for the continued litigation with these insurers as well the bankruptcy proceedings generally. In addition, in view of American Biltrite's relationships with Congoleum, American Biltrite could be affected by Congoleum's negotiations regarding its pursuit of a plan or reorganization, and there can be no assurance as to what that impact, positive or negative, might be. In any event, the failure of Congoleum to obtain confirmation and consummation of a Chapter 11 plan of reorganization would have a material adverse effect on Congoleum's business, results of operations or financial condition and could have a material adverse effect on American Biltrite's business, results of operations or financial condition. Other factors which may cause actual results to differ from American Biltrite's expectations include those set forth in American Biltrite's Annual Report on Form 10-K for the year ended December 31, 2006, Quarterly Report on Form 10-Q for the quarter ended September 30, 2007 and subsequent filings with the Securities and Exchange Commission.