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How Parksite is Adjusting to Fit Today’s Economic Realities George Pattee Chief Executive Officer Parksite Inc.

How Parksite is Adjusting to Fit Today’s Economic Realities George Pattee Chief Executive Officer Parksite Inc. Who We Are. Mission Statement

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How Parksite is Adjusting to Fit Today’s Economic Realities George Pattee Chief Executive Officer Parksite Inc.

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  1. How Parksite is Adjusting to Fit Today’s Economic Realities George Pattee Chief Executive Officer Parksite Inc.

  2. Who We Are • Mission Statement • Parksite Inc. is a sales, marketing and distribution organization. We offer specialized products, training, and value-added services to select market segments within the building industry. • Keys to Success • Strong Dealer Partners and a focus on Industry Education • Leading Brands • Strategic Distribution Centers in all Key Eastern US Markets • Core Product: Education • The success of our products is based on the education of Dealers, Builders, Architects and General Contractors. • Communicating the solutions our products provide, creates sales for both parties. • Providing training and technical support ensures proper installation of products and a clear understanding of building systems.

  3. Company Background • 1971 - Parksite Opens • 1974 - Parksite begins Corian® distribution with DuPont • 1978 - Parksite created a use for an innovative product, Tyvek®, Resulting in a change in building practices worldwide. • 1990 - ESOP ownership structure (75%) introduced at Parksite • 1997 - ESOP ownership becomes (100%) & Subchapter S Corp • 2000 - Parksite acquires Plunkett-Webster and begins relationship with AZEK®Products • 2001 - Parksite acquires Metro-Sloan • 2003 - Parksite obtains distribution rights to Nichiha Fiber Cement Siding • 2002 - Parksite named to Inc.’s list of 500 Fastest Growing Privately Held Companies • 2004 - Expand in Florida and to Southeast Market • 2005 - Acquisition of Eastern Distributors in PA • 2006 - Parksite acquires New England sales and marketing territory for DuPont Surfaces. Expand into Denver, CO, Market. • 2007 - Terminate relationship with Trex®. Enter into landmark Agreement with AZEK® Building Products Enter into partnership with Fiber Composites to distribute WeatherBest® deckin • 2008 - Weathering the Housing Storm

  4. Parksite Profit Improvement –Two Distinct Phases • Primary Phase I & II • What Have We Done • July 2006 to July 2008 • Secondary Phase I & II • What Are We Doing? • August 2008 to December 2008

  5. Primary Phase I - What Have We Done • Recognize start of Economic Downturn - July 2006 • Rightsize based on Sales / FTE and Gross Profit / FTE back to 2004 Levels • Change Business Model for Marginally Profitable Products • Close unprofitable operations/locations • Appliance Business Unit, Masonite Door Shop, Selection Centers • Reorganize Management Structure and Create Push/Pull Sales Teams • Restructure Logistics Model

  6. Primary Phase II - What Have We Done • Address Order Trends; Employ ways to increase order sizes, improve margins on small orders and recover costs • Balance Sheet Management • Reduce net working capital deployed to scale investment and capital requirements to be in line with expectations • Change ESOP Distribution Policy. • Reduce Operating Expenses by $20 mm Annually

  7. Secondary Phase I - What Are We Doing • Open Communication, Teamwork and Mutual Commitment to Common Goals among Management & Associates • Bi-Monthly CEO Messages and detailed summaries from the President • Newsletter, Intranet, Company-wide Conference Calls • Outside Board of Directors Involvement • Manage Change • Outside Assistance (The Keystone Group) • Additional Resources, Another Perspective • Facilitate thinking about our Business Differently • Associate & Facility Interview Process • Data Collection • Financial and Operating Analysis

  8. Secondary Phase II - What Are We Doing • Expanded Scope • Comprehensive Customer, Product, Pricing & Staffing Profitability Analysis • Collaborative Process Advancement and Establishment of Performance Expectations • Opportunities • Engage Keystone and develop Management Team of 24 Associates to concentrate on prioritized list of 14 enhancements • Goal of improvement, development of strategies and simplification of processes.

  9. In Conclusion • Action Plan for remainder of 2008: • Product Profitability • Supplier Relationship Management • Customer Evaluation • Establishment of Associate Roles & Responsibilities • Engage in Organizational Roll Out!

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