For the nine months ended September 30, 2002, net sales of $448,659,953 were down 2 percent from the $459,444,809 reported for the same period in 2001. Net income was $19,915,671, an increase of 55 percent compared to $12,858,865 a year ago. Net income per share increased 56 percent to $.67 versus $.43 from the comparable period last year.

Foreign currency translation increased total sales and manufacturing segment sales by $3.0 million for the third quarter and $2.5 million for the nine months. Currency translation had no material impact on earnings for the periods.

In accordance with SFAS 142, goodwill is no longer amortized, and income before taxes and earnings per share were favorably impacted for both the quarter and the nine months. Goodwill amortization in the corresponding periods a year ago reduced income before taxes by $2.3 million and $6.9 million, respectively, and earnings per share by $.06 and $.18, respectively.

Per share figures are adjusted for the five-for-four stock split distributed in August, 2002.

Commenting on the quarter’s results, Stephen E. Myers, president and chief executive officer, said, "While we posted a modest improvement in sales for the third quarter, continued weakness in our industrial markets squeezed volume and margins in the manufacturing segment. Combined with an increase in plastic raw material costs, our profitability growth was constrained during the third quarter.”

Business Segment Overview
In the manufacturing segment, sales for the third quarter increased 4 percent compared to last year’s results; added to the first half results, sales for the nine months were down 3 percent from the comparable period in 2001. Product mix and demand was fragmented across many of the Company’s niche markets, and uneven market conditions heightened competitive circumstances and product pricing pressures. Demand from major industrial markets remained weak throughout North America and Europe, with economic uncertainty and customers’ restricted spending practices exacerbating the usual seasonal effect on Myers’ sales and profits for the quarter.

In the distribution segment, sales increased 4 percent in the third quarter and increased 1 percent for the nine months, compared to the same periods last year. Sales in the quarter reflect steady demand for consumable service supplies, and after an extended period of soft demand, sales for capital equipment strengthened.

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, 43 domestic and five international distribution branches, more than 20,000 products, and more than 4,100 employees. For its fiscal year ended December 31, 2001, the Company recorded net sales of $608.0 million.

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. For more information, contact: Greg Stodnick, Vice President, Finance, and Chief Financial Officer, at (330) 253-5592.