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NOGALES, ARIZONA - February 28, 2005 -- Alpha Pro Tech
(AMEX: APT; CHX:APT), a leading developer and manufacturer of
proprietary materials for disposable protective apparel, announced today that
its subsidiary, Alpha ProTech Engineered Products, Inc., has signed a second
3-year, mutually exclusive agreement with Perma "R" Products, Inc., a Grenada,
Mississippi-based company in the construction industry. This agreement
stipulates that Perma "R" will be responsible for all sales & marketing of
Alpha Pro Tech's roof underlayment product, and Perma "R" has agreed to minimum
sales of $3 million per year.
"I’m pleased to announce this agreement with Perma “R” Products for APT’s roof
underlayment. This is in addition to our previously announced 3 year $5 million
minimum per year agreement for our house wrap product,” commented Al Millar,
Alpha Pro Tech's President. "This agreement will make our unique technology
available to home builders nationwide. With Alpha Pro Tech’s underlayment
technology, houses can wait up to six months before shingles, tiles or other
coverings are installed, without damage from rain or other reasonable weather
conditions. In essence, this provides much more continuity in the building
process, and will enable work to continue inside with protection from the
elements. The exceptional reputation of Perma "R" Products, and the strong
customer base validates our technology and provides us with a strong entry into
this large industry."
Tim LeClair, Chief Executive Officer of Perma "R" Products, Inc., added, "We are
pleased to have completed an agreement giving Perma “R” exclusive access to
these exciting technologies, and look forward to introducing them to the
established customer base we have built during the past 26 years. This product
is much lighter, more durable and slip resistant when compared to 30 pound
felt, the industry standard in roof underlayment. Adding Alpha ProTech's new
roof underlayment and house wrap products to our comprehensive line of building
materials gives us an entrée – and a competitive advantage -- into an estimated
$1 billion annual market.”
About Perma “R” Products, Inc. Perma "R" Products is a leading manufacturer and
developer of cutting-edge products for the building and packaging industries.
The Company also owns General Panel Corporation, a manufacturer of Structural
Insulated Panel (SIPS) for residential and commercial building markets. Also,
Perma “R” is an owner and a manufacturer of LOGIX ICF, an insulated concrete
forms (ICF) for all of North America used in residential and commercial
markets. The Company’s corporate offices are in Grenada, Mississippi and
manufacturing plants are in Grenada; Johnson City, Tennessee; and Union,
Mississippi.
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The Private Securities Litigation Reform Act of 1995 ("Act") provides a safe
harbor for forward-looking information made on behalf of the Company.
Forward-looking statements involve risks, uncertainties and assumptions as
described from time to time in registration statements, annual reports and
other periodic reports and filings of the Company filed with the Securities and
Exchange Commission. All statements, other than statements of historical facts
which address the Company's expectations of sources of capital or which express
the Company's expectations for the future with respect to financial performance
or operating strategies, can be identified as forward-looking statements. As a
result, there can be no assurance that the Company's future results will not be
materially different from those described herein as "believed," "anticipated,"
"estimated" or "expected," which reflect the current views of the Company with
respect to future events. We caution readers that these forward-looking
statements speak only as the date hereof. The Company hereby expressly
disclaims any obligation or undertaking to release publicly any updates or
revisions to any such statements to reflect any change in the Company's
expectations or any change in events, conditions or circumstances on which such
statement is based.
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