EXHIBIT 99.1

     ElkCorp Updates Outlook for the First Fiscal Quarter of 2005;
      Reaffirms Guidance of $2.00 to $2.05 per Diluted Share for
                           Fiscal Year 2005

    DALLAS--(BUSINESS WIRE)--Oct. 1, 2004--ElkCorp (NYSE:ELK)
announced today it expects earnings for the first quarter of fiscal
2005 to be in the range of $0.31 to $0.32, compared to $0.43 to $0.46
per diluted share provided on August 10. However, based on the
continued strength of the business and the potential long-term demand
generated by the rebuilding of the hurricane affected areas, the
company is reaffirming its earnings guidance of $2.00 to $2.05 per
diluted share for the full fiscal year.
    The lowered projections for the quarter are due to continued
competitive pricing pressure, a delay in an Ortloff licensing fee,
recycling of composite inventories and the impact of the hurricanes on
the Southeast and Gulf Coast regions. During the quarter the company
was unable to realize as much of its August price increase as
projected, particularly in the markets affected by storms in the prior
year. A production interruption in the nonwoven mat line was
experienced due to substandard raw materials which resulted in an
equipment malfunction. The company believes that a portion of the
costs associated with this interruption could be reimbursable from the
raw material manufacturer during fiscal 2005. In composite lumber
business, old inventory was recycled because it was not consistent
with the current formula. These factors, in addition to the hurricanes
that affected the Southeast and Gulf Coast regions, had a negative
impact on the earnings for the quarter; however, the company
anticipates the significant shingle demand in hurricane affected areas
to compensate for the projected decline in first quarter earnings.
    "We anticipated the first quarter would be challenging; however,
it proved to be even more difficult with an overall weaker market that
affected pricing. This was compounded by the negative impact of the
four hurricanes affecting the Southeast, which is the third largest
laminated roofing market, and much of the East Coast," said Thomas
Karol, chairman and chief executive officer of ElkCorp. "Our original
forecast also assumed stronger sales in the regions that were affected
by storms in the prior year and did not include hurricane related
downtime and lower production levels experienced at our Tuscaloosa and
Myerstown facilities. We were fortunate that our plants located in the
regions impacted by Hurricane Ivan sustained no damage; however, we
did experience downtime at the Tuscaloosa facility and a production
slowdown in Myerstown due to the significant rainfall associated with
the storm. Beginning in the December quarter, we anticipate overall
market demand to improve as a result of the additional product needed
in hurricane affected areas, which should also result in reducing the
current pricing pressure."
    Mr. Karol continued, "We believe the goals we have set for the
year are attainable and the decline in our earnings for the first
quarter will be offset by storm driven sales and other upside
initiatives during the year. Therefore, we are still projecting our
earnings per share for fiscal 2005 to be in the range of $2.00 to
$2.05 per diluted share."

    About ElkCorp

    ElkCorp, through its subsidiaries, manufactures Elk brand premium
roofing and building products (over 90% of consolidated sales) and
provides technologically advanced products and services to other
industries. Each of ElkCorp's principal operating subsidiaries is a
leader within its particular market. Its common stock is listed on the
New York Stock Exchange (ELK). See www.elkcorp.com for more
information.

    Safe Harbor Provisions

    In accordance with the safe harbor provisions of the securities
law regarding forward-looking statements, in addition to the
historical information contained herein, the above discussion contains
forward-looking statements that involve risks and uncertainties. The
statements that are not historical facts are forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995. These statements usually are accompanied by words
such as "optimistic," "outlook," "believe," "estimate," "potential,"
"project," "expect," "anticipate," "plan," "predict," "could,"
"should," "may," "likely," or similar words that convey the
uncertainty of future events or outcomes. These statements are based
on judgments the company believes are reasonable; however, ElkCorp's
actual results could differ materially from those discussed here.
Factors that could cause or contribute to such differences could
include, but are not limited to, changes in demand, prices, raw
material costs, transportation costs, changes in economic conditions
of the various markets the company serves, changes in the amount and
severity of inclement weather, acts of God, war or terrorism, as well
as the other risks detailed herein, and in the company's reports filed
with the Securities and Exchange Commission, including but not limited
to, its Form 10-K for the fiscal year ending June 30, 2003, and
subsequent Forms 8-K and 10-Q.
    At ElkCorp's sole discretion, it may publicly disclose its
estimates, projections or other guidance relating to the company's
future earnings, performance or operations. If and when provided, such
guidance constitutes forward-looking statements as described above and
will speak only as of the date made. ElkCorp undertakes no obligation
to update any guidance.

    CONTACT: ElkCorp, Dallas
             Stephanie Elwood, 972-851-0472