Exhibit 99.1

October 30, 2006
FOR IMMEDIATE RELEASE
Investor Contact: Mark Warren (205) 298-3220
Media Contact: David Donaldson (205) 298-3220

VULCAN ANNOUNCES RECORD THIRD QUARTER SALES AND EARNINGS
Earnings Per Share From Continuing Operations Up 49% Year-To-Date

Birmingham, Alabama - October 30, 2006 - Vulcan Materials Company (NYSE:VMC) announced today that third quarter net sales, operating earnings and earnings per share from continuing operations were at record levels. Net sales increased 13 percent while operating earnings and earnings per share increased 25 percent and 18 percent respectively, compared to the third quarter last year.

Net sales increased approximately $99 million to $848 million. The average price for aggregates in the third quarter increased 15 percent from the prior year's third quarter, driving operating earnings and margins higher than last year on 6.6 percent lower shipments. Earnings from continuing operations were $1.45 per diluted share, compared to $1.23 per diluted share in the prior year. The effective tax rate from continuing operations increased to 31.0 percent from 25.8 percent in the prior year due to income tax adjustments that were $0.07 per diluted share less favorable. Earnings per share for the current quarter include $0.03 due to an increase in the carrying value of the ECU earn-out, compared to the $0.06 recorded in the third quarter of 2005 (see Table E). Third quarter net earnings were $1.39 per diluted share and include a $0.06 per diluted share loss from discontinued operations.

Don James, Vulcan's Chairman and Chief Executive Officer, stated, "Sales increased in each of our major end use markets leading to higher operating earnings. Our employees achieved these outstanding results in the face of slower residential construction activity in many markets and some temporary deferrals of highway projects resulting from escalating liquid asphalt costs that sharply exceeded prior estimates for these projects. While the excess supply of single family houses is likely to restrain new construction in many markets into 2007, the recent trend of falling liquid asphalt and diesel costs should bring highway bids back in line with project estimates in the future."

Gross profit increased 20 percent as price increases more than offset the effects of lower volumes and higher costs for liquid asphalt, cement, diesel fuel and electricity. As a percent of net sales, gross profit improved to 32 percent from the prior year's level of 30 percent. In California, Vulcan's largest state by revenue, gross profit increased over 40 percent. Earnings growth in California more than offset the effects of lower aggregates volumes due in part to wet weather conditions in the second half of the quarter in Virginia, North Carolina and Illinois.

Earnings and margins from asphalt and concrete product lines improved as price increases more than offset lower volumes and the effects of higher costs for liquid asphalt, cement and internally transferred aggregates.

Other income decreased approximately $6 million from the prior year's third quarter due primarily to a smaller increase in the carrying value of the ECU earn-out. The third quarter 2006 increase in the value of the earn-out was $4.7 million, or $0.03 per diluted share. This earn-out agreement is accounted for as a derivative instrument, with any adjustments to the carrying value recorded as other income or charges from continuing operations (Table E). We received the first ECU earn-out payment of approximately $128 million during the third quarter. This earn-out runs for four additional years with total cash receipts capped at $150 million.

Last year's tax rate reflected a reduction in estimated income tax liabilities for prior years and a favorable settlement of federal income tax refund claims representing approximately $0.10 per diluted share. Favorable tax adjustments in 2006 totaled $0.03 per diluted share.

Through the first nine months of 2006, net cash provided by operating activities was $364 million, an increase of $90 million from the prior year's amount of $274 million.

During the third quarter, the Company purchased 2,238,939 shares of its common stock at a total cost of approximately $169 million, representing an average cost of $75.50 per share. Year-to-date, the Company has purchased 6,746,261 shares at a total cost of approximately $522 million, representing an average cost of $77.37 per share.

All results are unaudited.

2006 Outlook

Mr. James stated, "Through the first nine months of 2006, sales and earnings growth significantly exceeded last year's record results due to improved pricing and margins in all key products. We expect this pricing momentum to continue and we anticipate strong growth in sales and earnings in the fourth quarter. For the full year, we now expect aggregates pricing to improve 14 percent on flat to slightly lower volumes compared to last year's record levels, assuming typical weather patterns in the fourth quarter. Overall, we now expect 2006 earnings from continuing operations of $4.55 to $4.80 per diluted share, compared to the $3.30 per diluted share reported in 2005.

"Our 2006 earnings guidance for continuing operations reflects $0.05 per diluted share in expense referable to stock options for the full year, including $0.01 in the fourth quarter. Our 2005 earnings from continuing operations did not include any expense for stock options.

"We continue to generate significant value for our shareholders through the development and sale of reclaimed and surplus real estate. In the fourth quarter, we anticipate closing a real estate sale contract in California that would result in a net after-tax gain of $0.26 per diluted share. This gain is not included in the $4.55 to $4.80 per diluted share earnings guidance for 2006.

"Additionally, our current year earnings guidance does not assume any potential adjustment in the carrying value of the ECU earn-out beyond the $0.17 per diluted share recorded through the first nine months of 2006.

"Costs related to our former Chemicals business should result in a full year loss of $0.10 per diluted share from discontinued operations in 2006, including $0.01 in the fourth quarter."

2007 Outlook

Commenting on Vulcan's outlook for 2007, Mr. James stated, "We are uniquely positioned as a leading supplier of aggregates. Our coast-to-coast footprint includes approximately 300 aggregates facilities serving many of the fastest growing U.S. markets. We expect continued strong growth in sales and earnings in these key markets.

"We see excellent potential for additional growth, given relatively low interest rates, falling office vacancy rates and the solid fiscal condition of most states, coupled with projected increases in the more aggregate-intensive infrastructure and private non-residential end use markets. So far in 2006, construction cost inputs for highway projects have increased significantly, particularly liquid asphalt and diesel fuel, resulting in some delays for new contract awards. However, we expect highway construction to pick up significantly in 2007, as a result of higher state tax revenues and an increase of $3.4 billion in the federal highway authorization for fiscal year 2007, along with moderating liquid asphalt costs. Approximately 75 percent of our aggregates shipments go to public infrastructure and private nonresidential construction.

"The residential construction slowdown in the U.S. is well documented and has contributed to lower aggregates shipments in several of our markets. However, with mortgage interest rates at relatively low historical levels and household formations increasing in high growth markets, residential construction has the potential to stabilize in 2007 once the excess supply of new houses has diminished.

"Our preliminary outlook for 2007 earnings from continuing operations is $5.25 to $5.65 per diluted share. This represents projected earnings growth of approximately 25 percent compared to 2006, when $0.32 per diluted share referable to ECU adjustments and the gain on sale of contractual rights to mine a quarry in Atlanta, Georgia is excluded from 2006 earnings. We are in the process of fully developing our 2007 operating plans and will provide more definitive sales and earnings guidance when we issue our fourth quarter 2006 financial results."

In keeping with past practice, the Company will give quarterly and annual earnings guidance. The Company will issue press releases to revise such guidance if it is reasonably certain that comparable earnings per share, on either a quarterly or an annual basis, will be outside its latest published estimates.

Conference Call

Vulcan will host a conference call at 10:00 a.m. CST on October 31, 2006. Investors and other interested parties may access the teleconference live by calling (866) 356-3095 approximately 10 minutes before the scheduled start. International participants can dial (617) 597-5391. The access code is 88602887. A live webcast will be available via the Internet through Vulcan's home page at vulcanmaterials.com. The conference call will be recorded and available for replay approximately two hours after the call through November 7, 2006.

Vulcan Materials Company, a member of the S&P 500 index, is the nation's largest producer of construction aggregates and a major producer of other construction materials.

Certain matters discussed in this release, including expectations regarding future performance, contain forward-looking statements that are subject to risks, assumptions and uncertainties that could cause actual results to differ materially from those projected. These risks, assumptions and uncertainties include, but are not limited to, those associated with general economic and business conditions; changes in interest rates; the timing and amount of federal, state and local funding for infrastructure; changes in the level of spending for residential and private nonresidential construction; the highly competitive nature of the construction materials industry; pricing; weather and other natural phenomena; energy costs; costs of hydrocarbon-based raw materials; increasing healthcare costs; the timing and amount of any future payments to be received by the Company under two earn-outs contained in the agreement for the divestiture of the Company's Chemicals business; and other risks, assumptions and uncertainties detailed from time to time in the Company's SEC reports, including the report on Form 10-K for the year. Forward-looking statements speak only as of the date hereof, and Vulcan assumes no obligation to update such statements.

TABLE A
Vulcan Materials Company and Subsidiary Companies
	(Amounts and shares in thousands, except per share data)
Consolidated Statements of Earnings (Condensed and unaudited)	Three Months Ended     September 30		Nine Months Ended     September 30
	2006	2005	2006	2005
Net sales Delivery revenues Total revenues Cost of goods sold Delivery costs Cost of revenues Gross profit Selling, administrative and general expenses Other operating (income) expense, net Operating earnings Other income, net Interest income Interest expense Earnings from continuing operations    before income taxes Provision for income taxes Earnings from continuing operations Earnings (loss) on discontinued operations, net of tax Net earnings Basic earnings (loss) per share:    Earnings from continuing operations    Discontinued operations    Net earnings per share Diluted earnings (loss) per share:    Earnings from continuing operations    Discontinued operations    Net earnings per share Weighted-average common shares outstanding:     Basic     Assuming dilution Cash dividends declared per share of common stock Depreciation, depletion, accretion and amortization    from continuing operations Effective tax rate from continuing operations	$848,296 81,025 929,321 575,008 81,025 656,033 273,288 67,854 (1,284) 206,718 4,810 914 7,713 204,729 63,421 141,308 (5,243) $136,065 $1.48 (0.06) $1.42 $1.45 (0.06) $1.39 95,708 97,679 $0.37 $57,583 31.0%	$749,367 80,649 830,016 522,111 80,649 602,760 227,256 62,387 (37) 164,906 10,673 6,484 9,150 172,913 44,592 128,321 (6,105) $122,216 $1.25 (0.06) $1.19 $1.23 (0.06) $1.17 102,320 104,397 $0.29 $55,759 25.8%	$2,298,349 227,822 2,526,171 1,603,662 227,822 1,831,484 694,687 198,076 (26,808) 523,419 27,659 5,034 19,689 536,423 173,972 362,451 (8,777) $353,674 $3.68 (0.09) $3.59 $3.60 (0.09) $3.51 98,546 100,671 $1.11 $165,599 32.4%	$1,934,116 206,590 2,140,706 1,404,252 206,590 1,610,842 529,864 169,511 4,173 356,180 12,907 12,118 28,023 353,182 101,475 251,707 46,407 $298,114 $2.46 0.45 $2.91 $2.41 0.45 $2.86 102,503 104,376 $0.87 $162,944 28.7%

TABLE B
Vulcan Materials Company and Subsidiary Companies	(Amounts in thousands)
Consolidated Balance Sheets (Condensed and unaudited)	September 30 2006	December 31 2005	September 30  2005
Assets Cash and cash equivalents Medium-term investments Accounts and notes receivable:    Accounts and notes receivable, gross    Less: Allowance for doubtful accounts      Accounts and notes receivable, net Inventories:    Finished products    Raw materials    Products in process    Operating supplies and other      Inventories Deferred income taxes Prepaid expenses      Total current assets Investments and long-term receivables Property, plant and equipment:    Property, plant and equipment, cost    Less: Reserve for depreciation, depletion and amortization      Property, plant and equipment, net Goodwill Other assets      Total assets Liabilities and Shareholders' Equity Current maturities of long-term debt Short-term borrowings Trade payables and accruals Other current liabilities      Total current liabilities Long-term debt Deferred income taxes Other noncurrent liabilities Shareholders' equity      Total liabilities and shareholders' equity	$68,651 - 483,356 (4,572) 478,784 209,216 10,300 1,876 16,705 238,097 18,735 27,070 831,337 6,985 3,758,480 (1,992,564) 1,765,916 625,076 180,924 $3,410,238 $32,547 236,750 174,510 131,074 574,881 322,267 297,191 302,801 1,913,098 $3,410,238	$275,138 175,140 480,647 (4,277) 476,370 170,539 9,602 1,589 16,022 197,752 23,184 17,138 1,164,722 6,942 3,481,708 (1,877,741) 1,603,967 617,083 196,170 $3,588,884 $272,067 - 142,221 164,726 579,014 323,392 275,065 284,872 2,126,541 $3,588,884	$253,594 192,720 540,709 (4,166) 536,543 158,853 8,727 1,525 16,774 185,879 42,446 20,643 1,231,825 6,919 3,429,186 (1,838,360) 1,590,826 646,833 178,318 $3,654,721 $242,120 - 146,788 158,318 547,226 355,308 300,432 287,870 2,163,885 $3,654,721

	TABLE C
Vulcan Materials Company and Subsidiary Companies Consolidated Statements of Cash Flows (Condensed and unaudited)	(Amounts in thousands)   Nine Months Ended         September 30
Operating Activities Net earnings Adjustments to reconcile net earnings to   net cash provided by operating activities:     Depreciation, depletion, accretion and amortization     Net gain on sale of property, plant and equipment     Net gain on sale of contractual rights     Contributions to pension plans     Increase in assets before initial       effects of business acquisitions and dispositions     Increase in liabilities before initial       effects of business acquisitions and dispositions     Other, net       Net cash provided by operating activities Investing Activities Purchases of property, plant and equipment Proceeds from sale of property, plant and equipment Proceeds from sale of contractual rights, net of cash transaction fees Proceeds from sale of Chemicals business, net of cash transaction fees Payment for partner's interest in consolidated Chemicals joint venture Payment for businesses acquired, net of acquired cash Purchases of medium-term investments Proceeds from sales and maturities of medium-term investments Change in investments and long-term receivables Other, net       Net cash provided by (used for) investing activities Financing Activities Net short-term borrowings Payment of short-term debt and current maturities Payment of long-term debt Purchases of common stock Dividends paid Proceeds from exercise of stock options Excess tax benefits from exercise of stock options Other, net       Net cash used for financing activities Net decrease in cash and cash equivalents Cash and cash equivalents at beginning of period Cash and cash equivalents at end of period	2006 $353,674 165,618 (3,672) (24,850) (1,112) (155,481) 29,688 (247) 363,618 (299,147) 5,909 24,850 141,916 - (20,498) - 175,140 172 (13) 28,329 236,750 (240,470) - (521,632) (109,109) 23,036 12,991           - (598,434) (206,487) 275,138 $68,651	2005 $298,114 163,392 (4,219) - (28,847) (199,154) 35,655 9,197 274,138 (151,210) 5,069 - 209,327 (62,701) (93,314) (283,765) 270,255 620            - (105,719) - (1,291) (8,253) (123,125) (89,046) 35,394 -       46 (186,275) (17,856) 271,450 $253,594

TABLE D
1.  Supplemental Cash Flow Information Supplemental information referable to the Condensed Consolidated Statements of Cash Flows for the nine months ended September 30 is summarized below (amounts in thousands):
Supplemental Disclosure of Cash Flow InformationCash paid during the period for:   Interest, net of amount capitalized   Income taxes Supplemental Schedule of Noncash Investing and Financing Activities Liabilities assumed in business acquisitions Accrued liabilities for purchases of property, plant and equipment Proceeds receivable from exercise of stock options Accrued liabilities for purchases of treasury stock Noncash proceeds from the sale of the Chemicals business:    Earn-outs    Working capital adjustments	2006 $ 19,678 172,126 - 16,540 676 310 - -	2005 $ 26,170 173,053 4,709 9,608 - - 128,167 14,213

2.  Net Sales and Unit Shipments	(Amounts in thousands)
	Three Months Ended     September 30		Nine Months Ended     September 30
Net Sales by Product - Customer    Aggregates, excluding freight to remote       distribution sites     Freight to remote distribution sites       Aggregates       Asphalt mix       Concrete       Other products         Total net sales Unit Shipments    Aggregates       Customer tons       Internal tons *          Aggregates - tons          Asphalt mix - tons          Concrete - cubic yards	2006 $543,695 37,166 580,861 155,448 69,700 42,287 $848,296 65,272 3,601 68,873 3,427 752	2005 $503,491 32,563 536,054 113,254 68,703 31,356 $749,367 69,787 3,938 73,725 3,537 870	2006 $1,502,449 107,990 1,610,439 366,760 206,784 114,366 $2,298,349 185,187 9,960 195,147 8,732 2,319	2005 $1,312,397 92,042 1,404,439 261,847 185,535 82,295 $1,934,116 184,827 10,363 195,190 8,645 2,428
*Represents tons shipped primarily to our other operations (e.g., asphalt mix and concrete).   Revenue from internal shipments is not included in net sales as presented in the accompanying Consolidated   Statements of Earnings.

	TABLE E
Reconciliation of Non-GAAP Performance Measures                                                                (Amounts in thousands, except per share data)
	Three Months Ended     September 30		Nine Months Ended     September 30
GAAP Earnings from continuing operations before       income taxes    Gain on sale of contractual rights (1)    Gain from adjustment in the carrying value       of the ECU earn-out (2) Earnings from continuing operations before income       taxes, excluding gains on sale of contractual rights       and adjustment in the carrying value of the       ECU earn-out (3)	2006 $204,729 (1) (4,734) $199,994	2005 $172,913 - (9,620) $163,293	2006 $536,423 (24,850) (27,720) $483,853	2005 $353,182 - (9,350) $343,832
GAAP Earnings from continuing operations,       net of tax    Gain on sale of contractual rights, net of tax (1)    Gain from adjustment in the carrying       value of the ECU earn-out, net of tax (2) Earnings from continuing operations, excluding gains       on sale of contractual rights and adjustment in the       carrying value of the ECU earn-out, net of tax (3)	$141,308 (1) (2,837) $138,470	$128,321 - (5,765) $122,556	$362,451 (14,850) (16,613) $330,988	$251,707 - (5,603) $246,104
GAAP Diluted earnings per share from continuing       operations    After-tax gain per diluted share resulting from       the sale of contractual rights (1)    After-tax gain per diluted share resulting from       the adjustment in the carrying value of the       ECU earn-out (2) Earnings per share from continuing operations,       excluding gains on sale of contractual rights       and adjustment in the carrying value of the       ECU earn-out, net of tax (3)	$1.45 - (0.03) $1.42	$1.23 - (0.06) $1.17	$3.60 (0.15) (0.17) $3.28	$2.41 - (0.05) $2.36

(1) During the second quarter of 2006, the Company recognized a $25 million pretax gain from the sale of its contractual rights to mine the Bellwood quarry in Atlanta, Georgia. The City of Atlanta plans to convert the property into a city park and greenspace as part of a larger economic growth and development project around the city's perimeter. The Company worked with city and county officials to achieve this mutually beneficial transaction. Over the next two years, the Company will continue operating the quarry as it transitions customers to its existing 12 quarries in the greater Atlanta area and to a new, zoned site purchased in 2004 in anticipation of the Bellwood sale.

(2) In June 2005, the Company sold substantially all the assets of its Chemicals business, known as Vulcan Chemicals, to a subsidiary of Occidental Chemical Corporation, Basic Chemicals. Subject to certain conditions as defined in a separate earn-out agreement, Basic Chemicals is required to make future payments based on ECU and natural gas prices during the five-year period beginning July 1, 2005, capped at $150 million (ECU earn-out or ECU derivative). The ECU earn-out is accounted for as a derivative instrument; accordingly, it is reported at fair value. Changes to the fair value of the ECU derivative are recorded within continuing operations pursuant to SAB Topic 5:Z:5.

(3) The Company prepares and reports its financial statements in accordance with U.S. Generally Accepted Accounting Principles (GAAP). Internally, management monitors the operating performance of its construction materials business using non-GAAP metrics similar to those above. These non-GAAP measures exclude the effects of two items, described more fully above: 1) the gain on the sale of contractual rights at the Bellwood quarry in Atlanta, Georgia, during the second quarter of 2006 (included in other operating income, net in the accompanying condensed consolidated statements of earnings), and 2) the ECU earn-out obtained in connection with the June 2005 sale of our Chemicals business, including the associated changes in carrying value (included in other income, net in the accompanying condensed consolidated statements of earnings).

     In Management's opinion, these non-GAAP measures are important indicators of the ongoing operations of our construction materials business and provide better comparability between reporting periods because they exclude items that may not be indicative of or are unrelated to our core business and provide a better baseline for analyzing trends in our core operations. The Company does not, nor does it suggest that investors should, consider such non-GAAP financial measures in isolation from, or as a substitute for, financial information prepared in accordance with GAAP. The Company believes the disclosure of the effects of these items increases the reader's understanding of the underlying performance of the business and that such non-GAAP financial measures provide investors with an additional tool to evaluate our financial results and assess our prospects for future performance.