MYERS INDUSTRIES
REPORTS FIRST
QUARTER RESULTS

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“Our first quarter was challenged with difficult economic conditions carried over from the fourth quarter,” commented Stephen E. Myers, President and Chief Executive Officer. “The weakened conditions in many sectors of the economy, including further decline in the automotive and truck markets, impacted performance in both of our business segments.”

Without the contributions from acquisitions, total net sales would have been flat in the first quarter. In the Company’s manufacturing segment, sales increased 5 percent over last year’s first quarter results. Excluding contributions from acquisitions, sales in the manufacturing segment would have increased 1 percent for the quarter.

Sales in the distribution segment were down 7 percent from 2000 results. Demand for both capital equipment and consumable service supplies were affected by the continuation of softness in the automotive aftermarket carried over from the fourth quarter last year.

The translation effect of the strong U.S. dollar reduced both total sales and manufacturing segment sales by $2.9 million. Without the translation effect and excluding acquisitions, total sales would have increased 2 percent for the quarter and manufacturing segment sales would have increased 4 percent for the quarter. The translation effect also decreased net income $100,000 for the quarter.

“While we continue to work toward higher earnings this year, the current market environment is making that goal challenging,” Myers said. “We are committed to our long-term focus on niche markets that provide the Company with the greatest returns and to work closer with customers for whom our products and services offer more value.”

The Company recently announced that it will move its shares from trading on the American Stock Exchange to the New York Stock Exchange (NYSE). Trading on the NYSE is expected to commence May 1, 2001. Myers Industries’ stock symbol, “MYE,” will be retained in the move.

Myers Industries, Inc. is an international manufacturer of plastic and rubber products for industrial, agricultural, automotive, commercial, and consumer markets. Products range from reusable plastic containers and plastic flower planters to plastic storage and organization products, rubber OEM parts, rubber tire repair products, and custom rubber materials. 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 25 manufacturing facilities in North America and Europe, 42 domestic and five international distribution branches, more than 20,000 products, and more than 4,300 employees.

Forward-Looking Statements: Statements in this release may include “forward-looking” statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements involve a number of risks and uncertainties that could cause actual results to materially differ from those expressed or implied. Any statement that is not of historical fact may be deemed to be a forward-looking statement. Myers Industries does not undertake to update any forward-looking statements contained herein.

Myers Industries, Inc.
CONDENSED STATEMENT OF INCOME