For the nine months ended September 30, 2003, net sales increased 8 percent to $484,584,484 from sales of $448,659,953 reported for the same period in 2002. Net income was $11,975,070, a decrease of 40 percent compared to $19,915,671 a year ago. Net income per share declined 40 percent to $.40 versus $.67 from the comparable period last year. Favorable foreign currency translation increased sales for the nine months by $20.9 million, or 5 percent and net income by $580,000, or $.02 per share.

Commenting on the quarter’s results, Stephen E. Myers, chairman and chief executive officer, said, "We have seen modest unit sales increases in some areas of our manufacturing segment. Profits remain compressed by higher year over year costs for plastic raw materials and continued price competition in the marketplace."

Business Segment Overview
In the manufacturing segment, sales increased 6 percent for third quarter and 10 percent for the nine months, compared to last year's results. Favorable foreign currency translation accounted for approximately 78 percent of the sales increase for the quarter and approximately 60 percent of the sales increase for the nine month period. Unit sales growth improved in automotive, heavy-manufacturing, retail and wholesale distribution, agriculture, and horticulture markets into which the Company sells plastic products such as material handling containers and flower planters. Demand was spotty across the Company’s other niche markets, reflecting third quarter seasonality factors.

Commenting on prices for the Company's raw materials, primarily high-density polyethylene and co-polymer polypropylene plastic resins, Chief Financial Officer Greg Stodnick said, "Despite some relief from higher raw material prices at the end of the second quarter, prices increased again late in the third quarter and were approximately 15 percent higher compared to the same period last year."

In the distribution segment, sales decreased 2 percent in the third quarter and were up 1 percent for the nine months, compared to the same periods last year. The decrease reflects weakened demand for capital equipment.

Debt Reduction
The Company repaid $8.1 million in debt during the third quarter. At September 30, 2003, total debt outstanding was $225.5 million, compared with $247.9 million at the same time last year and $232.9 million at the beginning of 2003. Debt as a percentage of total capitalization was 45 percent at September 30, 2003, compared with 50 percent at September 30, 2002 and 48 percent at the beginning of 2003.

About Myers Industries
Myers Industries, Inc. is an international manufacturer of polymer 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, wheel, and undervehicle service industry in the U.S. Myers has 25 manufacturing facilities in North America and Europe, 40 domestic and five international distribution branches, more than 20,000 products, and more than 4,000 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.

There is no conference call to discuss the release.