About US Mineral Products

Richard Lippe, Esq. Managing Trustee
Archie R, Dykes, Ph.D, Trustee
Michael Temin, Esq., Trustee
Jack Feinblatt, C.P.A., Executive Administrator

History of the Bankruptcy Proceeding

United States Mineral Products Company (“USM” or the “Company”) filed a Chapter 11 Petition on July 23, 2001 in the United States Bankruptcy Court for the District of Delaware.

An Order confirming the Fifth Amended Plan (as modified by certain technical amendments) (the “Plan”) was entered November 29, 2006 and an Order Issuing and Affirming Permanent Channeling Injunction was entered by the United States District Court for the District of Delaware on December 14, 2006.

Under the Plan all Asbestos -Related Personal Injury Claims and all Indirect Asbestos-Related Personal Injury Claims then existing or thereafter arising were channeled to the United States Mineral Products Company Asbestos Personal Injury Settlement Trust (the “USM PI Trust”). (USM Property Damage Claims were channeled to a separate Property Damage Trust with a different Trustee).

The Effective Date of the Plan occurred on January 31, 2006.

The United States Mineral Products Company
Asbestos Personal Injury Settlement Trust

On the Effective Date of the Plan 100% ownership of the Company was transferred to the USM PI Trust. USM continues to operate and do business. Three Trustees were appointed to manage the USM PI Trust: Richard A. Lippe, Michael Temin and Archie Dykes. The Trustees appointed an Administrator, Jack Feinblatt. The Trust address is c/o Jack Feinblatt, 190 Willis Avenue, Mineola, NY 11501. The USM PI Trust has also retained John J. Preefer, Esq. as its counsel. Mr. Preefer’s address is 60 East 42nd Street, Suite 1329, New York, NY 10165; e mail address: jplawyer@aol.com.

During the year 2006 the USM PI Trust organized, appointed and retained professionals and considered a number of legal and administrative matters. The USM PI Trust is currently processing Settled Claims as defined in the PI Trust Distribution Procedures and is not soliciting the submission of other asbestos claims. No decision has been made to date on the specifics of addressing other asbestos claims. The USM PI Trust has not yet retained a claims facility.

Tillinghast-Towers Perrin was retained by USM in 2001 to perform an analysis of USM’s contingent asbestos personal injury liabilities and at that time estimated the gross contingent indemnity liabilities to range from $1.7 to $3.2 billion on an undiscounted basis. At the time of the Petition Date approximately 165,000 asbestos personal injury lawsuits were pending against USM.

In the event any person or law firm wishes to be placed on the USM PI Trust mailing list, please send to Mr. Preefer your name, address, telephone number, and if available, your e mail address.