Headwaters Incorporated (NYSE:HW) announced today that Kirk A. Benson, Chairman and CEO of Headwaters Incorporated, was named Entrepreneur of the Year by Mountain West Capital Network. He will be the keynote speaker at a luncheon being held today in his honor at The Little America Hotel in downtown Salt Lake City.

In April of 1999 when Mr. Benson became CEO of Headwaters, the Company was a struggling synthetic fuels operation employing roughly 70 people, with more than $28 million in debt and only $6.7 million in revenue. At the end of the Company's fiscal 2006 year it announced earnings of over $1 billion in revenue, net income of over $100 million, and has over 4,000 employees. The turnaround under Mr. Benson's leadership has been nothing short of remarkable.

Mr. Benson stated in a recent article in the Salt Lake Tribune, ?What this award really means to me is that we have had some great employees at Headwaters who have done a very good job. This recognition is really about Headwaters' success. That's how I see it.? Mr. Benson went on to say, ?It's fun to watch employees learn and improve their skills. As a Company we feel our products not only are of value to our customers, but to society and the environment.?

About Headwaters Incorporated

Headwaters Incorporated is a world leader in creating value through innovative advancements in the utilization of natural resources. Headwaters is a diversified growth company providing products, technologies and services to the energy, construction and home improvement industries. Through its alternative energy, coal combustion products, and building materials businesses, the Company earns a growing revenue stream that provides the capital needed to expand and acquire synergistic new business opportunities.

Forward-Looking Statements

Certain statements contained in this report are forward-looking statements within the meaning of federal securities laws and Headwaters intends that such forward-looking statements be subject to the safe-harbor created thereby. Forward-looking statements include Headwaters' expectations as to the managing and marketing of coal combustion products, the production and marketing of building materials and products, the licensing of technology and chemical sales to alternative fuel facilities, the receipt of product sales, license fees and royalty revenues, which are subject to tax credit phase out risks, the development, commercialization, and financing of new technologies and other strategic business opportunities and acquisitions, and other information about Headwaters. Such statements that are not purely historical by nature, including those statements regarding Headwaters' future business plans, the operation of facilities, the availability of tax credits in an environment of high oil prices and potential tax credit phase out, the availability of feedstocks, and the marketability of the coal combustion products, building products, and synthetic fuel, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 regarding future events and our future results that are based on current expectations, estimates, forecasts, and projections about the industries in which we operate and the beliefs and assumptions of our management. Actual results may vary materially from such expectations. Words such as ?expects,? ?anticipates,? ?targets,? ?goals,? ?projects,? ?believes,? ?seeks,? ?estimates,? variations of such words, and similar expressions are intended to identify such forward-looking statements. Any statements that refer to projections of our future financial performance, our anticipated growth and trends in our businesses, and other characterizations of future events or circumstances, are forward looking. In addition to matters affecting the coal combustion product, alternative fuel, and building products industries or the economy generally, factors which could cause actual results to differ from expectations stated in forward-looking statements include, among others, the factors described in the captions entitled "Forward-looking Statements" and ?Risk Factors? in Item 7 in Headwaters' Annual Report on Form 10-K for the fiscal year ended September 30, 2006, Quarterly Reports on Form 10-Q, and other periodic filings and prospectuses.

Although Headwaters believes that its expectations are based on reasonable assumptions within the bounds of its knowledge of its business and operations, there can be no assurance that our results of operations will not be adversely affected by such factors. Unless legally required, we undertake no obligation to revise or update any forward-looking statements for any reason. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this report. Our Internet address is www.headwaters.com. There we make available, free of charge, our annual report on Form 10-K, quarterly reports on Form 10-Q, current reports on Form 8-K and any amendments to those reports, as soon as reasonably practicable after we electronically file such material with, or furnish it to, the SEC. Our reports can be accessed through the investor relations section of our web site.