August 1 , 2007

Our industry continues to see unrelenting cost increases from all suppliers of our resins as result of unbalanced demand and increases on resin components such as benzene, styrene, ethyleneg lycol, and other petrochemicals.

After a comprehensive review of market trends, including elevated raw material demand and inflated associated manufacturing costs, it is apparen that these trends will continue until capacity issues in the petrochemical industry are stabilized.

Due to factors mentioned above, Glasteel is implementing a price increase of 6% on FRP panels, moldings, and accessories effective on orders September 1 ,2007. Please contact your Regional Sales Manager or Customer Service Representative with any questions or concerns.

Thank you for your business and cooperation during this volatile period. Please be
assured that Glasteel will continue to provide you with quality products, superior
customer service, and the most competitive price.

Sincerely


Javier Vasquez
Vice President Sales & Marketing