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PLY GEM INDUSTRIES ISSUES STATEMENT ON STOCK PRICE DECLINE

 PLY GEM INDUSTRIES ISSUES STATEMENT ON STOCK PRICE DECLINE
 NEW YORK, July 1 /PRNewswire/ -- PLY GEM Industries, Inc. (AMEX: PGI) issued a statement today in response to the recent stock price decline and heavy trading volume. Chairman Jeffrey S. Silverman responded to investor queries regarding Monday's announcement by one of the company's long term institutional holders that it had reduced its stake in PLY GEM from 9.9 percent to 7.9 percent.
 "PLY GEM's stock price appreciated 63 percent in 1991 and rose another 45 percent in the first four months of 1992. Naturally, there are going to be times when long term investors enjoy some profit-taking. With PLY GEM stock now selling at below book value, this represents an excellent opportunity to participate in our next stage of growth," said Silverman.
 PLY GEM is a national manufacturer and distributor of specialty products for the home improvement industry. Despite a slow-down in the building materials industry, PLY GEM had record 1991 sales of over $561 million and enjoyed a 27 percent increase in profits last year. In 1992, PLY GEM joined the ranks of the Fortune 500 and expects to continue to increase its penetration of the national home center market.
 -0- 7/1/92
 /CONTACT: Diane M. Cady of PLY GEM Industries, 212-832-1550/
 (PGI) CO: Ply Gem Industries, Inc. ST: New York IN: HOU SU:


LR-OS -- NY042 -- 5597 07/01/92 10:37 EDT
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Publication:PR Newswire
Date:Jul 1, 1992
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