PalletOne Completes Purchase Of Spaulding Lumber Company
Chase City, VA - September 10, 2002 - PalletOne, Inc. ("PalletOne"), America's largest new pallet manufacturer, announced today that it has completed the purchase of Spaulding Lumber Company, Inc.'s ("Spaulding Lumber") pallet manufacturing operation and sawmill located in Chase City, VA. Terms of the deal were not disclosed.

"We are pleased to have PalletOne in our community. The company is a large operation with many national customers, which could aid in increasing production opportunities within the manufacturing plant," said Jim Spaulding , President of Spaulding Lumber Company.

According to Spaulding, the lumber company was founded in 1910 and served primarily the industrial lumber industry. "We are encouraged by PalletOne's national presence and broad customer base, which could serve to make the pallet manufacturing business and sawmill thrive again," said Spaulding.

PalletOne Chief Executive Officer and President Howe Wallace said,"We are excited about the opportunity in Chase City and will work very hard to get this facility running to capacity as quickly as possible."

Nationally, PalletOne now operates 13 facilities in nine states. Other facilities are located in Bartow, FL, Hazlehurst, GA, Smarr, GA, Shipshewana, IN, St. Francisville, LA, Livermore Falls, ME, Butner, NC, Mocksville, NC, Siler City, NC, New Boston, TX, Waterloo, WI and New London, WI.

 TRADE 2002-03
Jennifer Daniels
Marketing Communications
863.533.1148 x1306
jdaniels@PalletOne.com