American Biltrite Completes Refinancing

WELLESLEY HILLS, Mass.--(Business Wire)--
American Biltrite Inc. (NYSE Amex: ABL) reported today that it completed the
refinancing of its credit facility on June 30, 2009. The new credit agreement
with Wachovia Bank, NA provides up to $38 million in revolving and term debt. In
addition, American Biltrite entered into financing arrangements with FGI Finance
that provide up to $4 million in revolving credit for the company`s operations
in Belgium and Singapore. These new facilities replace an existing credit
agreement that provided up to $29 million in borrowings.

Roger S. Marcus, Chairman of the Board, commented "We are extremely pleased to
have completed our refinancing despite a challenging economic and credit
environment. Our new facilities provide us with greater liquidity and capacity
to finance sales growth as the economy recovers. We have had an excellent
long-term relationship with Wachovia through one of our subsidiaries, and look
forward to this opportunity to build upon it. This financing also resolves the
issue that caused our accountants to include a going concern explanation in
their audit opinion on our 2008 financial statements because our prior facility
was expiring in September 2009."

Warning regarding forward-looking statements and certain risks

The above news release contains certain forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995, that involve
risks, uncertainties and assumptions. These forward-looking statements are based
on American Biltrite's expectations, as of the date of this release, of future
events. American Biltrite undertakes no obligation to update any of these
forward-looking statements, except as may be required by the federal securities
laws. Although American Biltrite believes that its expectations are based on
reasonable assumptions, within the bounds of its knowledge of its business and
experience, there can be no assurance that actual results will not differ
materially from expectations. Readers are cautioned not to place undue reliance
on any forward-looking statements. Actual results could differ significantly as
a result of various factors. For example, the above news release states that the
new credit facility with Wachovia Bank, National Association provides up to $38
million in revolving and term debt. However, the actual amounts available for
borrowings from time to time under that facility may be limited to the extent
that the borrowing base under that facility is below the maximum amount of
available credit. In addition, under that credit agreement, payments on the
American Biltrite's accounts receivable will be deposited in accounts assigned
by American Biltrite and its subsidiary borrowers to Wachovia and the funds in
that account may used by Wachovia to pay down outstanding borrowings under the
credit agreement, which could reduce the amount, frequency, and timing of any
borrowings under that credit facility. Further, the credit agreement imposes
various financial and other covenants on American Biltrite. If American Biltrite
fails to satisfy those covenants, or other events of default occur, American
Biltrite may be required to repay all amounts owed under the credit agreement
and the lenders may cease to make borrowings available under the facility.
American Biltrite's obligations under the credit agreement are secured by assets
of American Biltrite and its subsidiaries and guaranteed by American Biltrite
and its subsidiaries. In addition, the financing arrangements with FGI Finance
are accounts receivable factoring arrangements, which provide for the sale or
assignment of accounts receivable by American Biltrite or its subsidiary to FGI
Finance at a discount. The availability of funding to American Biltrite and its
subsidiary under these arrangements is subject to American Biltrite and its
subsidiary having qualifying accounts receivable to sell or assign. Accounts
receivable sold or assigned to FGI Finance under these arrangements are with
recourse to American Biltrite and its subsidiary, which may require American
Biltrite and its subsidiary to make payments to FGI Finance for uncollectible
accounts receivable previously sold or assigned to FGI Finance. American
Biltrite's and its subsidiary's obligations to make payments to FGI Finance
under these arrangements are secured by assets of, and guaranteed by, American
Biltrite and its subsidiary. The above news release may also imply that American
Biltrite's sales will grow as the economy recovers. The U.S. and world economies
are currently in recession and there can be no assurances as to when economic
conditions may recover and, if they do recover, whether conditions will
meaningfully improve. There can be no assurance that American Biltrite's sales
will grow if or as the economy recovers as, although economic conditions are a
significant factor, other factors also affect American Biltrite's sales.

Actual results could differ significantly as a result of these and other factors
discussed in American Biltrite's Annual Report on Form 10-K for the year ended
December 31, 2008, its Quarterly Report on Form 10-Q for the quarter ended March
31, 2009, and its subsequent filings with the Securities and Exchange
Commission.

American Biltrite Inc.
Howard N. Feist, 609-584-3586
Chief Financial Officer

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