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FOR IMMEDIATE RELEASE

SPI Participates in Senate Press Conference on Importance of Energy Legislation

WASHINGTON (June 22, 2005) - The Society of the Plastics Industry, Inc. (SPI) today joined Sens. Craig Thomas (R-WY), Norm Coleman (R-NM), Larry Craig (R-ID) and Lamar Alexander (R-TN) at a press conference on Capitol Hill. The event, sponsored by Senate Energy Committee Chairman Pete Domenici (R-NM) and hosted by the Alliance for Energy and Economic Growth, brought together lawmakers and representatives from the energy and business communities to discuss how the comprehensive, bipartisan energy legislation currently being debated on the Senate floor will create jobs and strengthen the U.S. economy.

SPI member Peter Jones, president of Wexco Inc., Lynchburg, VA, and chair of SPI's Strategic Management Group for Public Policy, spoke on behalf of SPI and the plastics industry. In his comments, Jones noted that the price of natural gas in the U.S. "has been skyrocketing over the last few years."

"As natural gas is the primary feedstock for a number of plastic resins in North America, the tripling of its cost has caused resin prices to rise greatly in the past few years," said Jones. The result, he explained, is that many of his customers "either moved offshore where resin prices are cheaper or simply went out of business."

The shrinking customer base resulting-at least in part-from soaring energy costs has taken its toll on his business, Jones said.

"Despite our best efforts at marketing and cost control, our sales revenue dropped dramatically during the past five years - by almost 40 percent - requiring us to cut employment from 135 to 68, a 50-percent reduction," said Jones.

"The bottom line is that we need relief from the effects of high U.S. natural gas prices and we need that relief now," he said.

Jones' comments were echoed by other press conference participants.

"Developing new energy sources, encouraging new technology that will conserve more energy and modernizing the country's energy infrastructure should be a top priority of the Congress," said Bruce Josten, spokesperson for the Alliance for Energy and Economic Growth. "A comprehensive energy bill will not only accelerate the economic rebound and create jobs, but it will also help reduce America's dependence on foreign sources of oil," said Josten.

"The energy bill will save 2 million jobs over the next decade," added Sen. Coleman, quoting statistics from the National Association of Manufacturers. "This energy bill is a 'jobs bill'."

"We're talking not only about jobs, but about an efficient economy that can compete worldwide," said Sen. Thomas.

Also participating in the event were Andrew Liveris, president and CEO of Dow Chemical and Jeff Uhlenberg, president of Donovan Heat Treating of Philadephia. Media in attendance included representatives from Knight Ridder, Barron's, UPI, Fox News Channel, The Washington Times and CQ Magazine.

Founded in 1937, The Society of the Plastics Industry, Inc., is the trade association representing one of the largest manufacturing industries in the United States. SPI's members represent the entire plastics industry supply chain, including processors, machinery and equipment manufacturers and raw materials suppliers. The U.S. plastics industry employs 1.4 million workers and provides nearly $310 billion in annual shipments. For more information, visit SPI on the Web at www.plasticsindustry.org.

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