IT WAS A STRONG YEAR FOR OUR INTERNATIONAL  Coatings Segment, posting gains in both sales and profits. We increased manufacturing output, expanded distribution, strengthened the position of our brands across all channels and grew market share. The Segment also benefited from favorable currency exchange rates and a steadily improving economy in South America. The Sherwin-Williams ® brand, along with a variety of widely accepted regional brands, is distributed in 20 countries. We operate through wholly-owned subsidiaries, joint ventures, licensing agreements and independent distributors. In 2004, we added 10 new stores bringing our total to 71 company-operated stores.  BRAZIL – We celebrated our 60th anniver- sary of production in Brazil, our largest for- eign subsidiary. Our commitment to this market has been unwavering, and over the 12