Walter Industries, Inc. (fka WLTGQ)

[The GidDy uP Kid]

TAMPA, Fla., Sept. 30 /PRNewswire-FirstCall/ -- Walter Industries, Inc. (NYSE: WLT - News), a leading producer and exporter of U.S. metallurgical coal for the global steel industry, outlined today its plans to separate its Financing business from the Company's core Natural Resources businesses.

The Company said it plans to distribute 100 percent of its interest in JWH Holding Company, LLC ("JWH Holding Company"), a wholly-owned subsidiary of the Company and parent company of Walter Mortgage Company and Jim Walter Homes, to its shareholders. Prior to this distribution, Jim Walter Homes will be sold or otherwise separated from JWH Holding Company and will not be part of the spin-off entity.