EXHIBIT 1
                                                                       ---------

                             JOINT FILING AGREEMENT

         In accordance with Rule 13d-1(k)(1)  under the Securities  Exchange Act
of 1934,  as  amended,  the  undersigned  hereby  agree to the  joint  filing of
MatlinPatterson  LLC,  MatlinPatterson  Asset  Management  LLC,  MatlinPatterson
Global Advisers LLC,  MatlinPatterson  Global  Partners II LLC,  MatlinPatterson
Global  Opportunities  Partners II L.P.,  MatlinPatterson  Global  Opportunities
Partners  (Cayman) II L.P., David J. Matlin and Mark R. Patterson,  on behalf of
each of them a statement on Schedule 13D  (including  amendments  thereto)  with
respect to shares of common stock,  par value $0.01 per share, of Owens Corning,
a Delaware  corporation,  and that this  Agreement  be included as an Exhibit to
such joint filing.  This Agreement may be executed in any number of counterparts
all of which taken together shall constitute one and the same instrument.

         IN WITNESS WHEREOF,  the undersigned hereby execute this Agreement this
9th day of November 2006.


                                   MATLINPATTERSON LLC


                                   By: /s/ Mark R. Patterson
                                       --------------------------
                                       Name:  Mark R. Patterson
                                       Title: Member


                                   MATLINPATTERSON ASSET MANAGEMENT LLC


                                   By: /s/ Mark R. Patterson
                                       --------------------------
                                       Name:  Mark R. Patterson
                                       Title: Chairman


                                   MATLINPATTERSON GLOBAL ADVISERS LLC


                                   By: /s/ Mark R. Patterson
                                       --------------------------
                                       Name:  Mark R. Patterson
                                       Title: Chairman


                                   MATLINPATTERSON GLOBAL PARTNERS II LLC


                                   By: /s/ Mark R. Patterson
                                       --------------------------
                                       Name:  Mark R. Patterson
                                       Title: Director






                                   MATLINPATTERSON GLOBAL OPPORTUNITIES
                                   PARTNERS II L.P.

                                   By:  MatlinPatterson Global Partners II LLC,
                                        its general partner


                                        By: /s/ Mark R. Patterson
                                            -----------------------------
                                            Name:  Mark R. Patterson
                                            Title: Director



                                   MATLINPATTERSON GLOBAL OPPORTUNITIES
                                   PARTNERS (Cayman) L.P.

                                   By:  MatlinPatterson Global Partners II LLC,
                                        its general partner


                                        By: /s/ Mark R. Patterson
                                            -----------------------------
                                            Name:  Mark R. Patterson
                                            Title: Director



                                   DAVID J. MATLIN


                                   By: /s/ David J. Matlin
                                       ----------------------------------
                                       Name: David J. Matlin



                                   MARK R. PATTERSON


                                   By: /s/ Mark R. Patterson
                                       ----------------------------------
                                       Name: Mark R. Patterson