0 percentversus the fourth quarter of 2007

Net revenue for the fourth quarter of 2008 was $350.2 million, down 3.0 percentversus the fourth quarter of 2007. Higher average selling prices positivelyimpacted net revenue growth by 5.5 percentage points and the previouslyannounced acquisition in Egypt added 0.3 percentage points. Lower volume andunfavorable foreign currency translation adversely impacted net revenue growthby 7.4 and 1.4 percentage points, respectively. "Our adjusted fourth quarter results were in line with the preliminary estimateswe provided in December, and ended what has been a challenging year," commentedCEO Michele Volpi.

Through this period we were successful in reversing our organicrevenue trends to more positive territory despite relatively weak end marketconditions. Just as raw material cost pressures were starting to abate we werehit in the fourth quarter with another unprecedented external event and volumesdropped sharply. Despite these challenges we maintained solid profitability in2008 and, at the same time, have taken steps to make our company stronger andposition it for future growth." Fiscal Year 2008 Results:Income from continuing operations for fiscal year 2008 was $19.3 million, or$0.37 per diluted share, versus $101.1 million, or $1.66 per diluted share, infiscal year 2007. When adjusted for non-cash impairment charges, income fromcontinuing operations for fiscal year 2008 was $73.2 million, or $1.41 perdiluted share, in line with the preliminary estimate communicated in the pressrelease of December 12, 2008. Net revenue for fiscal year 2008 was $1.392 billion, down 0.6 percent versusfiscal year 2007. Higher average selling prices, favorable foreign currencytranslation, and the acquisition in Egypt, positively contributed 2.4, 3.3, and0.1 percentage points, respectively, to net revenue growth.

Lower volumeadversely impacted net revenue growth by 6.4 percentage points. Balance Sheet and Cash Flow:At the end of the fourth quarter of 2008 total cash was $80.4 million and totaldebt was $240.1 million, compared to third quarter levels of $207.1 million and$339.5 million, respectively. The significant changes in these balances fromquarter to quarter primarily reflect actions the Company took during the fourthquarter to temporarily pay down debt with excess cash to reduce net financingcosts. Cash flow from operations was $8 million in the fourth quarter and $43million for the full year. Fiscal Year 2009 Expectations:Regarding the Companys expectations for fiscal year 2009, CEO Michele Volpimade the following comments. "Because of the continuing volatility and uncertainty in the global markets webelieve it is not useful to provide full-year earnings per share guidance atthis time.