As of the expiration of the initial offering period, based on preliminary information from the depositary for the offer, approximately 3,496,700 shares of BTI's common stock had been validly tendered and not withdrawn pursuant to the offer. These shares, together with the 713,746 shares currently owned by Vetrotex CertainTeed Corporation, CertainTeed's fiber glass reinforcements business, represent approximately 80% of BTI's outstanding shares. CertainTeed has accepted for payment all validly tendered shares. Payment for the accepted shares will be made promptly through the depositary for the offer.
Following the subsequent offering period, CertainTeed and BTI will proceed with their previously announced merger pursuant to which CertainTeed will acquire the remaining equity interest in BTI. As a result of the merger, each share of BTI common stock that was not tendered in the original tender offer or the subsequent offer period will be converted into the right to receive $8.50 in cash, without interest, subject to dissenters' rights.

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