January 9, 2007

Headwaters Chooses BWise for Sarbanes-Oxley Compliance Solution

BWise Enhances Governance, Risk and Compliance Capabilities for Industry Leading Natural Resources Technologies Company

New York, NY - January 9, 2007 – BWise, a leading provider of governance, risk and compliance (GRC) software solutions, today announced that Headwaters (NYSE: HW) has chosen BWise for its Sarbanes Oxley (SOX) compliance, risk management and process management solution. The solution will enable Headwaters to strengthen internal controls and related SOX compliance capabilities, driven by BWise’s comprehensive risk-based approach.

Under the terms of the contract, the BWise solution will be implemented as a part of Headwaters’ internal auditing program at the corporate level and across the organization’s numerous companies including Headwaters Energy Services, Headwaters Resources, Headwaters Construction Materials and Headwaters Technology Innovation. Headwaters is the largest provider of technologies used to produce coal-based solid synthetic fuels, and the industry leader in managing and marketing coal combustion products (“CCPs”) in the United States. Headwaters has experienced dramatic growth over the last several years, generated from internal growth as well as through acquisitions. The BWise solution will assist Headwaters in meeting its comprehensive Sarbanes Oxley compliance requirements while supporting enterprise risk management and related process management and documentation. BWise is a global leader in GRC software, with proven solutions to help organizations increase compliance, streamline related business processes and enhance performance.

“BWise is a perfectly suited SOX solution provider for Headwaters, as a company that is committed to sustainable business practices and products,” according to Robert Pijselman, Chief Executive Officer of BWise. “BWise continues to help companies such as Headwaters meet their complex corporate governance objectives through a risk-based approach that helps ensure compliance while improving business processes across the organization.”

“We chose BWise because of its ability to help Headwaters fully meet its Sarbanes Oxley compliance requirements from both a risk and process perspective,” according to Tim P. Davis, Headwaters’ Internal Audit Manager. “With BWise, we will be able to better evaluate Headwaters’ overall corporate performance and ensure financial controls are operating effectively.”

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About BWise
BWise is a global leader in compliance and enterprise risk management software, with a strong heritage in business process management. Established in 1994, BWise delivers proven solutions to help organizations become “in control” by increasing corporate accountability; strengthening financial, strategic and operational efficiencies; and maximizing performance and ROI. With more than 1,200 customers in more then 80 countries worldwide and 150,000 users in virtually all markets, BWise has developed a strong and sustainable presence in the compliance and risk management sectors. Utilizing templates and a best-practice implementation approach, BWise enables management to measure and manage risks and to comply with rules and legislation such as Sarbanes-Oxley, European Corporate Governance Codes, IFRS, Basel II, ISO-standards and more. BWise has offices in the Netherlands, United States and India. For more information, visit http://www.bwise.com.

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.

Media Contacts:
Kim Larkin
D. Larkin & Associates
Office: (703) 250-3590, Ext. 3406 • Cell: (202) 391-5205
Email: klarkin@dlarkin.com

Holly McKee
D. Larkin & Associates
Office: (703) 250-3590, Ext. 3591 • Cell: (202) 386-3960
Email: hmckee@dlarkin.com

Sharon Madden
Vice President Investor Relations
(801) 984-9400

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