About the lawsuit against Trex ®

NEW JERSEY, June 2 /PRNewswire/ -- On May 28, 2004, the Superior Court of New Jersey certified a nationwide class action in a case originally filed in 2000 against Trex Company, Inc. (NYSE: TWP - News) and ExxonMobil Corp. (NYSE: XOM -News; collectively, the "Company"). The case alleges that the TREX product is defective.

The Court certified a nationwide class of consumers spanning the twelve- year period from 1992 through 2004 on a claim that the warranty issued by Trex and ExxonMobil in conjunction with the sale and distribution of composite lumber products is unconscionable and must be reformed. In addition, a class of New Jersey consumers will be certified for the same twelve-year period on claims that the sale, marketing and distribution of allegedly defective Trex lumber products (and its predecessor product Timbrex) violated the New Jersey Consumer Fraud Act and breached express and implied warranties. Damages under the New Jersey Consumer Fraud Act are trebled as a matter of law. In connection with the nationwide reformation of warranty claim, the Court observed that "[t]his issue has already been argued before the Appellate Division in this case and their decision is controlling."

The complaint alleges that the Trex and Timbrex products rot splinter and degrade as a result of inherent defects in the manufacturing process. The defects are allegedly inconsistent with claims in the marketing materials distributed by the Company. In addition, although the Company claims that the product does not need sealants, after the product exhibits mold, the Company allegedly recommends that consumers apply sealants. Plaintiffs also seek to reform the Company's warranty to, inter alia, include costs of repair and replacement of allegedly defective product, cover costs of sealants and eliminate the exclusive remedy of providing replacement product.