Gammapar acquires PermaGrain Products, Inc.

PHILADELPHIA, PA – August 2003 – Mirus has assisted PermaGrain Products, Inc. of Newtown Square, PA, with the sale of several divisions: the Company’s Ultratect^® Flooring Products division and GenuWood Line of hardwood flooring products, as well as the Company’s PermaGrain Parquet flooring operations and their Timeless Series^® and FineWood^® product lines. The divisions were acquired in two transactions by Prism Enterprises, LLC, of Forest, VA, an affiliate of Gammapar, which is also a manufacturer of acrylic-impregnated hardwood flooring.

PermaGrain has been the industry leader in engineered hardwood plank and parquet flooring for over 20 years and was a pioneer along with Gammapar in the development of acrylic-impregnated flooring products. Permagrain’s patented UltraTec system combines a proprietary moisture-negating TecCore backing with a hardwood veneer to enable hardwood-flooring installation in high moisture environments, accelerating the construction process by eliminating delays in sub-floor curing. GenuWood combines a thin hardwood veneer with a tough vinyl surface to provide a real hardwood visual with the durability and easy maintenance of vinyl, while the Company’s Timeless Series products are impregnated with acrylic resin, which strengthens the wood and prevents wear.

About Mirus Capital Advisors

Mirus Capital Advisors provides investment banking solutions to corporate clients in technology, business services, manufacturing, consumer products, health care, and the resort & hospitality industry. Since 1987, Mirus has provided corporate finance advisory services on engagements including mergers, acquisitions, divestitures, recapitalizations, and valuations. For additional information, visit www.merger.com.