10-Q/A

              SECURITIES AND EXCHANGE COMMISSION

                   Washington, D. C.  20549


                           FORM 10-Q

       Quarterly Report Pursuant to Section 13 or 15(d)
            of the Securities Exchange Act of 1934

           For the Quarter Ended September 30, 1997

                  Commission File No. 1-3660

                         Owens Corning

                   One Owens Corning Parkway

                      Toledo, Ohio  43659

                   Area Code (419) 248-8000

                    A Delaware Corporation

         I.R.S. Employer Identification No. 34-4323452


Indicate  by check mark whether the Registrant (1)  has  filed
all reports required to be filed by Section 13 or 15(d) of the
Securities Exchange Act of 1934 during the preceding 12 months
(or  for  such shorter period that the Registrant was required
to file such reports), and (2) has been subject to such filing
requirements for the past 90 days.

                     Yes / X /     No /   /

 Shares of common stock, par value $.10 per share, outstanding
                      at October 31, 1997

                          53,436,706

EX-27

 

<ARTICLE> 5
<LEGEND>
This schedule contains summary financial information extracted from
SEC form 10-Q and is qualified in its entirety by reference to such
financial statements.

<MULTIPLIER> 1,000,000

                             
<PERIOD-TYPE>                   9-MOS
<FISCAL-YEAR-END>                          DEC-31-1996
<PERIOD-END>                               SEP-30-1997
<CASH>                                              12
<SECURITIES>                                         0
<RECEIVABLES>                                      607
<ALLOWANCES>                                         0
<INVENTORY>                                        489
<CURRENT-ASSETS>                                 1,401
<PP&E>                                           3,456
<DEPRECIATION>                                   1,774
<TOTAL-ASSETS>                                   4,959
<CURRENT-LIABILITIES>                            1,075
<BONDS>                                          1,887
<COMMON>                                           652
<PREFERRED-MANDATORY>                              194
<PREFERRED>                                          0
<OTHER-SE>                                        (961)
<TOTAL-LIABILITY-AND-EQUITY>                     4,959
<SALES>                                          3,130
<TOTAL-REVENUES>                                 3,130
<CGS>                                            2,383
<TOTAL-COSTS>                                    2,383
<OTHER-EXPENSES>                                    14
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                                  78
<INCOME-PRETAX>                                    199
<INCOME-TAX>                                        48
<INCOME-CONTINUING>                                164
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                       164
<EPS-PRIMARY>                                     3.11
<EPS-DILUTED>                                     2.92

<F1> Represents basic earnings per share as defined in FASB Statement 128.
<F2> Represents diluted earnings per share as defined in FASB Statement 128.