SECURITIES AND EXCHANGE COMMISSION
                              
                  Washington, D. C.  20549
                              
                              
                          FORM 10-Q
                              
      Quarterly Report Pursuant to Section 13 or 15(d)
           of the Securities Exchange Act of 1934
                              
            For the Quarter Ended March 31, 1997
                              
                 Commission File No. 1-3660
                              
                        Owens Corning
                              
                  One Owens Corning Parkway
                              
                     Toledo, Ohio  43659
                              
                  Area Code (419) 248-8000
                              
                   A Delaware Corporation
                              
        I.R.S. Employer Identification No. 34-4323452


Indicate by check mark whether the Registrant (1) has  filed
all  reports required to be filed by Section 13 or 15(d)  of
the Securities Exchange Act of 1934 during the preceding  12
months  (or for such shorter period that the Registrant  was
required to file such reports), and (2) has been subject  to
such filing requirements for the past 90 days.

                    Yes / X /     No /   /
                              
      Shares of common stock, par value $.10 per share,
                outstanding at March 31, 1997
                              
                         53,263,731
                              
                              
                              
                              


<TABLE> <S> <C>

<ARTICLE> 5
<LEGEND>
This schedule contains summary financial information extracted from SEC form
10-QA and is qualified in its entirety by reference to such financial
statements.
</LEGEND>
       
<S>                             <C>
<PERIOD-TYPE>                   3-MOS
<FISCAL-YEAR-END>                          DEC-31-1997
<PERIOD-END>                               MAR-31-1997
<CASH>                                              13
<SECURITIES>                                         0
<RECEIVABLES>                                      442
<ALLOWANCES>                                        17
<INVENTORY>                                        430
<CURRENT-ASSETS>                                 1,107
<PP&E>                                           3,322
<DEPRECIATION>                                   1,767
<TOTAL-ASSETS>                                   4,107
<CURRENT-LIABILITIES>                            1,044
<BONDS>                                          1,099
                                0
                                          0
<COMMON>                                           647
<OTHER-SE>                                      (1,061)
<TOTAL-LIABILITY-AND-EQUITY>                     4,107
<SALES>                                            875
<TOTAL-REVENUES>                                   875
<CGS>                                              652
<TOTAL-COSTS>                                      652
<OTHER-EXPENSES>                                     7
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                                  19
<INCOME-PRETAX>                                     58
<INCOME-TAX>                                        19
<INCOME-CONTINUING>                                 42
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                        42
<EPS-PRIMARY>                                      .80<F1>
<EPS-DILUTED>                                      .76
<FN>
<F1>Represents basic earnings per share as defined in FASB Statement No. 128.
</FN>
        

</TABLE>



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