On August 27, 1987 (date of the Company’s Initial Public Offering), 1,000 shares of Fastenal’s stock sold  for $9,000. Approximately 17 years later, on December 31, 2004, those 1,000 shares, having split 5 times,  were 24,000 shares worth $1,476,000, for a gain of 16,300 percent (or approximately 30.8% compounded  annually).  On December 31, 1994, 1,000 shares of Fastenal’s stock sold for $40,880. Ten years later, on December  31, 2004, those 1,000 shares, having split 2 times, were 4,000 shares worth $246,240, for a gain of 502  percent (or approximately 19.7% compounded annually).  Ten Years  Initial Public Offering (IPO) Fastenal Stock Performance  Five Years  On December 31, 1999, 1,000 shares of Fastenal’s stock sold for $44,940. Five years later, on December  31, 2004, those 1,000 shares, having split once, were 2,000 shares worth $123,120, for a gain of 174  percent (or approximately 22.3% compounded annually).  Fastenal has paid dividends in every year since 1991.  Dividends  2004 ANNUAL REPORT – PAGE 8  Stock Performance Highlights 2004