Bullish for '94 growth

OUSING starts in Florida are since the third quarter of 1992. According to economist Merle F. Dimbalh, pennit values for the first quart€r of 1993 ne up 13% from the year eadier.

This, coupled with a much lower unerployment rate and relatively flat inflation, makes us cautiously optimistic for 1994.

Environmental issues will continue 0o cause concern regarding available lmrber supply, and probably will be a part of our lives forever. The fend to take national forests away ftom the multi-use concept has created mill closings, putring tremendous pressurcs on pricing and supply. The huge swings the market has taken since January have created challenges. Continuing to provide customers with top quallty lumber at competitive prices will be a challenge to all of us fo the foreseeable futrre.

We thirk $nart companies in 1994 will focus their energies on providing the best customer service possible. Slow, steady growth will be our experience, instead of booming markets. Good companies will provide value, convenience and service, and will profit by controlling expenses, to grow and thrive in tle coming years.