Release Details

GRAND RAPIDS, Mich., May 2 /PRNewswire/ -- Universal Forest Products, Inc. (Nasdaq: UFPI), the nation's leading supplier of engineered wood components to the site-built construction market, today announced it has signed a letter of intent to acquire the assets of the Superior Truss division of Banks Corporation of Elkhart, Indiana. The purchase includes manufacturing facilities located in Minneota, Minnesota and Syracuse, Indiana, which had total annual sales of $20 million in fiscal 2000. The transaction will close following Universal's normal due diligence and Board approval.

"This is another step in our strategic plan to develop a nationwide network of roof truss, floor truss, and wall panel manufacturing facilities that serve the site-built construction market," said William G. Currie, UFPI's chief executive officer. "This acquisition meets all of our strategic criteria and expands our geographic reach to include the markets that surround Minneapolis and Indianapolis. We plan to leverage the expertise of each location's management team as a platform for our growth in the Midwest."

Universal Forest Products® markets, manufactures, and engineers products for D-I-Y retail home centers, structural lumber products for the manufactured housing industry, engineered wood components for the site-built construction market and specialty wood packaging for various industries. For information about Universal Forest Products® on the Internet, please contact the company's investor relations web site at www.ufpi.com , or call 888-Buy-UFPI.

Included in this report are certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such forward-looking statements are based on the beliefs of the Company's management as well as on assumptions made by and information currently available to the Company at the time such statements were made. Actual results could differ materially from those included in such forward-looking statements. Investors are cautioned that all forward-looking statements involve risks and uncertainty. Among the factors that could cause actual results to differ materially are the following: Adverse lumber market trends, competitive activity, negative economic trends, government regulations, and weather. These risk factors and additional information are included in the company's reports on Form 10K and 10Q on file with the Securities and Exchange Commission.

SOURCE Universal Forest Products, Inc.

CONTACT: Charles R. Felix, Sr. V.P. Development and Investor Relations, 616-364-6161, or Michael R. Cole, Chief Financial Officer, 616-364-6161, both of Universal Forest Products, Inc.; Matthew Della Croce, Vice President, 212-453-2316, or Pat McCoy, Managing Supervisor, 212-453-2272, both of Fleishman Hillard, for Universal Forest Products, Inc.