For the nine months ended September 30, 2000, net sales of $481,368,865 were up 16 percent over the $414,158,294 reported for the same period in 1999. Net income was $19,540,144, a 9 percent decrease from net income of $21,401,751 a year ago. Net income per share was $.90, a 6 percent decrease from the $.96 reported for the comparable period last year.

Commenting on the Company’s performance, Myers Industries President and Chief Executive Officer Stephen E. Myers said, “The higher cost of plastic resin and intensified competitive pressures in the markets for our plastic products this year compared to last year and, to a lesser extent, higher interest costs due to rate increases combined to reduce profits in the third quarter.”

Excluding contributions from acquisitions, total net sales would have increased 7 percent for the third quarter and 4 percent for the nine months. On a segment basis, sales in the distribution segment were flat for the quarter and were down 2 percent for the nine months, compared to last year. In the Company’s manufacturing segment, sales increased 13 percent over last year’s third quarter results and 23 percent over the comparable nine months. Excluding acquisitions, manufacturing sales increased 9 percent for the quarter and 6 percent for the nine months.

Both total sales and manufacturing segment sales were weakened by the translation effect of the euro. Total sales and manufacturing segment sales were reduced $5.1 million for the quarter and $13.1 million for the nine months. Without the translation effect and excluding acquisitions, total sales would have increased 10 percent for the quarter and 7 percent for the nine months, and manufacturing segment sales would have increased 14 percent for the quarter and 10 percent for the nine months. The translation effect also decreased net income $40,000 for the quarter and $225,000 for the nine months.

“The acquisitions last year changed the scope of the Company’s international coverage, growth platforms, and financial leverage,” Myers said. "We remain optimistic that those decisions bode well for long-term, sustainable growth to benefit both customers and shareholders.”

Sales in the distribution segment were down 2 percent compared with 1998 third quarter results. Margins on sales, however, increased due to a favorable product mix. For the nine-month period, sales in the distribution segment increased 1 percent compared with 1998.

Myers Industries, Inc. is an international manufacturer of plastic and rubber products for industrial, agricultural, automotive, commercial, and consumer markets. The Company is also the largest wholesale distributor of tools, equipment, and supplies for the tire service and automotive underbody repair industry in the United States. Myers has 24 manufacturing facilities in North America and Europe, 42 distribution branches in 31 states, more than 20,000 products, and nearly 4,300 employees. Myers Industries reported net sales of $580.8 million in 1999.

Forward-Looking Statements: Statements in this release may include forward looking statements that involve a number of risks and uncertainties that could cause actual results to materially differ from those discussed. Any statement that is not of historical fact may be deemed to be a forward-looking statement.