Tyler Pipe Eliminates Pipe Production Shift

October 31, 2008

Tyler, TX, October 31, 2008 — Tyler Pipe Company today announced the elimination of one shift of pipe production at its Tyler, TX North Plant for 2009 due to soft market conditions which are affecting sales of cast iron pipe and fittings in the commercial building sector. The production decrease will result in a workforce reduction of approximately 75 hourly and 20 salaried workers. It is anticipated that this reduction in force will begin on or about December 31, 2008. Market conditions and the overall economy, as well as global competitive factors, will determine if the North Plant resumes a second shift after 2009. To help affected employees in this transition, the Company will provide job placement support to affected employees.

“We very much regret that the reduction of shifts has become necessary,” said Tony Orlowski, Assistant General Manager of the North Plant. “The entire North Plant Team has performed with dedication during this past year and made very significant cost and quality improvements. It’s unfortunate that the economy is such that we must cut back production to match our sales. Our North Plant employees are among the best in the world, and it’s my hope that this reduction is of short duration so we can resume a two-shift schedule in the future.“

The company will recall employees to replace those lost through normal attrition. We emphasize that we remain committed to the facility in Tyler, and will continue to invest in both the North Plant and Wade operations. We have, over the last five years, invested more than $50 million in upgrades and modifications to the Tyler facilities including industry-leading environmental health and safety systems.