Sheboygan, WI. (January 3, 2005) --- The Floor Products Division of VPI, LLC has been acquired by R. Steven Martin, Jeremy Williams and Robert Mac Pherson. The new company will operate as VPI Corporation. Mr. Martin will serve as President and CEO, Mr. Williams as Executive VP and Chief Operating Officer and Mr. Mac Pherson as Executive VP and Chief Financial Officer.

Mr. Martin and Mr. Mac Pherson were previously in the same respective roles at the Tone Brothers Spice Company in Ankeny, IA, which was recently sold to Associated British Foods. Mr. Williams had been General Manager of VPI's Flooring Products Division for the past year and a half.

Based in Sheboygan, Wisconsin, VPI has been supplying specialty floor tile and wall base products for use in commercial, industrial, and institutional buildings for over 50 years. VPI invented static control flooring and remains the market leader in this segment in the United States. The company employs approximately 60 people, doing business through a national distribution network in the U.S., and also exports products to Canada, Mexico, Europe and Asia.

"I couldn't be more excited about the company and its prospects for the future" said Mr. Martin. "It is extremely rare that you find a company of this size that has so many strengths on which you can build. VPI has tremendous brand equity in the industry, a market leadership position in static control tile, an excellent, established distribution network, and a systems infrastructure typically found only in much larger companies. Most importantly, VPI is blessed to have a very talented and dedicated workforce where the average employee tenure exceeds 20 years."

"It is clear to me that under the ownership of Bruce Grover for the past 30 years, this company has been operated at the highest standards, has an enviable heritage of quality, innovation and service to its customers and has had a special relationship with its employees. I am very fortunate and feel privileged to have the opportunity to continue on this same path."

For more information regarding VPI Corporation's full range of flooring products and services visit www.vpiflooring.com or call 800-874-4240.

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