Owens Corning — Director's Dealing 2011

May 31, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Owens Corning (OC)
CIK: 0001370946
Period of Report: 2011-05-27

Reporting Person: Mayer Mark W (VP & Chief Acctg. Officer)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2011-05-27	Phantom Stock	$	I	2555.603	Disposed		Common Stock (2555.603)	Direct

Footnotes

F1: Prior to payment, the reporting person had the right to transfer the value of the phantom stock into an alternative investment account. Conversion upon settlement was 1-for-1.

F2: The phantom stock does not have an exercisable date or expiration date.