Trex Company Announces Refinancing of Revolving Credit Facility

Trex Company, Inc. (NYSE: TWP), the nation’s leading manufacturer and distributor of wood alternative decking, railing, fencing and trim, today announced that it has successfully refinanced its revolving credit facility.

President and CEO Ron Kaplan commented, “The refinancing – which follows our redemption in September 2009 of the $25 million principal outstanding on our Variable Rate Demand Environmental Improvement Revenue Bonds – completes our initiative to consolidate our senior debt. We have structured the new facility to provide additional flexibility and liquidity as well as ample working capital. It provides management with the right capital structure to continue focusing on running the business.”

The new $85 million facility matures on December 31, 2011 and can be extended to December 31, 2012 if certain conditions are met. The facility is provided by BB&T Capital Markets and TD Bank, N.A.

There has been no borrowing on the new line. As part of the refinancing process, the company paid off its existing real estate loans with BB&T Company in the amount of approximately $5 million with available cash.

About Trex Company

Trex Company is the nation’s largest manufacturer of composite decking, railing, fencing and trim, with over 15 years of product experience. Built on “green” principles and values, Trex makes its products from a unique formulation of reclaimed wood and plastic, combined through a proprietary process. Trex decking, railing, fencing and trim offer significant design flexibility with fewer ongoing maintenance requirements than wood, as well as a truly environmentally responsible choice. In addition, Trex distributes ultra-low maintenance PVC decking under the trademark Trex Escapes® and PVC trim under the trademark TrexTrim™. For more information, visit the Company’s website, www.trex.com. Trex®, Trex Escapes® and TrexTrim™ are trademarks of Trex Company, Inc., Winchester, Va.

The statements in this press release regarding the Company's expected future performance and condition and its business strategy constitute "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements are subject to risks and uncertainties that could cause the Company's actual operating results to differ materially. Such risks and uncertainties include the extent of market acceptance of the Company's products; the sensitivity of the Company's business to general economic conditions; the Company's ability to obtain raw materials at acceptable prices; the Company's ability to maintain product quality and product performance at an acceptable cost; the level of expenses associated with product replacement and consumer relations expenses related to product quality; and the highly competitive markets in which the Company operates. The Company's report on Form 10-K filed with the Securities and Exchange Commission on March 12, 2009 and its subsequent reports on Form 10-Q filed on May 8, 2009 and August 10, 2009 discuss some of the important factors that could cause the Company's actual results to differ materially from those expressed or implied in these forward-looking statements. The Company expressly disclaims any obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise.

Trex (NYSE:TWP)
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