Roll ™ paint container joins the Twist & Pour ™ container as another revolutionary packaging breakthrough for the Dutch Boy ® brand. This new concept in paint packaging features a project-sized container with a built-in roller tray and an easy open/close lid. The Ready to Roll$^{™ }$paint container continues our string of innovations brought to the market under the Dutch Boy ® brand.  Two of our leading brands in the Consumer Segment – Minwax ® and Thompson’s ® WaterSeal ® – celebrated major milestones with their 100th and 75th anniversaries, respective- ly. In September of 2004, Sherwin-Williams acquired Paint Sundry Brands Corporation, a leading marketer and manufac- turer of high quality paintbrushes and rollers for professional contractors and do-it-yourself users. Their respected brands of Purdy ® and Bestt Liebco ® will join established brands like  Krylon ® and Dupli-Color ® in our diverse portfolio.  Our Automotive Finishes Segment posted a 12.6 percent net sales increase to $514.3 million for the year. This strong performance was helped by improvements in international sales, new product line introductions and the acquisition of a majority interest in an automotive coatings company in China, now known as Sherwin-Williams Kinlita Co., Ltd.  Operating profit for the Segment increased 10.8 per- cent to $58.1 million for the year as a result of higher sales volume, sales of higher margin products and the profit contribution from Sherwin-Williams Kinlita.  In 2004, the Segment added six new branches in North America, bringing the total number to 200 com- pany-operated branches in the U.S., Canada, Jamaica, Chile and Peru. During the year, we continued to intro- duce the highest quality clearcoat and primer products designed to help our OEM and shop customers reduce time, labor and materials use. Customers throughout the world are currently viewing approximately 200,000 color formulas each month through our recently intro- duced Internet Scale system.  Net sales in our International Coatings Segment increased 11.7 percent to $318.6 million in 2004. Seg- ment sales for the year benefited from favorable currency exchange and sales in local currency that continued to build during each quarter of 2004. During 2003, a change in fiscal year to a calendar year basis by South American subsidiaries added one month sales to last year’s results. The net impact of favorable currency exchange in 2004 more than offset the additional month sales in 2003 due to the fiscal year change, increasing net sales $9.9 million, or 3.5 percent, for the year. The Segment realized an operating profit of $18.0 million in 2004 compared to $8.4 million in 2003. This was primarily the result of higher sales volumes, operat- ing efficiencies resulting from manufacturing volume increases, tight expense control and favorable currency exchange fluctuations. The change in fiscal year had no significant effect on operating profit for the Segment. We continue to be encouraged by the improving economic conditions in South America. In Argentina, we strengthened our market position by launching  The Concept Store , based on the Sherwin-Williams paint store model of merchandising paint, but adapted to fit the local market. We celebrated our 60th anniversary of production in Brazil, and we again received numerous awards for product performance and innovation. In the United Kingdom, our Ronseal ™ wood care brand remains the market leader and continues to improve its position through new product offerings and market expansion. Our Ronseal subsidiary successfully launched a comprehensive range of Specialist Paint prod- ucts for use in a variety of applications and saw growth in Ireland with its core wood care and deck products. In 2004, we continued our long-standing practice of promoting talent from within the company with two important management appointments. MANAGEMENT CHANGES AUTOMOTIVE FINISHES SEGMENT INTERNATIONAL COATINGS SEGMENT  4 26 CONSECUTIVE YEARS OF DIVIDEND GROWTH. NAMED AS ONE OF THE 100 BEST COMPANIES TO WORK FOR BY FORTUNE MAGAZINE.