LAKE FOREST, Ill. – At its annual meeting yesterday, Tenneco shareholders re-elected Charles Cramb, Dennis Letham, Frank Macher, Hari Nair, Roger Porter, David Price Jr., Gregg Sherrill, Paul Stecko, Mitsunobu Takeuchi and Jane Warner to the company’s board of directors.

The directors have been re-elected to serve a term expiring at the 2011 annual meeting of stockholders.

Stockholders also ratified appointment of PricewaterhouseCoopers LLP as independent accountants for 2010.

Tenneco also announced it is launching a transaction to amend and extend its existing senior credit facility, which currently expires in March 2012. This transaction is expected to enhance the company's financial flexibility by extending the maturity of all or a significant portion of its commitments under its $550 million revolving credit facility and refinancing its existing $128 million term loan A facility.

The company expects the extended revolving credit facility will mature in May 2014. However, the facility will mature on April 15, 2013, if the company’s senior secured notes are not refinanced by that date or on Dec. 14, 2013, if the company’s tranche B-1 letter of credit/revolving loan facility is not refinanced by that date.

The company expects the new term loan facility will mature in May 2016. However, the facility will mature on April 15, 2013, if the company’s senior secured notes are not refinanced by that date or on Aug. 16, 2014, if the company’s senior subordinated notes are not refinanced by that date.

The company is in the process of seeking commitments and consents for the amended and extended senior credit facility, and expects to be able to complete the amendment and extension during the second quarter.