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Elmer's(R) Acquires Scientific Explorer(TM), GiddyUp(TM) and ColorLoco(TM)

11th December, 2006

Elmer's(R) Products, Inc., an industry leader in adhesives, arts and crafts and educational products, announced today the completion of its acquisition of Scientific Explorer(TM), GiddyUp(TM) and ColorLoco(TM).

"These acquisitions complement and strengthen Elmer's strategic focus and leadership in the arts and crafts and educational categories," said Bruce MacDougall, president and CEO of Elmer's. "At Elmer's, our purpose is to help people fulfill their inherent need to create, build and learn. Investments such as these support our long-term growth strategy and will be central to our continual development of educational, fun arts and crafts products for children."

A Seattle-based company committed to education and learning, Scientific Explorer creates award-winning, science-based kits including My First Chemistry, Mystery Detective and Spa Science, for children ages 4 and up. An Ann Arbor, Michigan-based company, GiddyUp focuses on licensed-based, creative arts and crafts activity products designed for children. Licensed products include The Backyardigans(TM), Blue's Clues(TM), Dora the Explorer(TM), Fairly Odd Parents(TM), SpongeBob SquarePants(TM), Barbie(TM), Hello Kitty(R), My Little Pony(TM), Sesame Street(R), Spider-Man(R) and Care Bears(TM). Based in Downington, Pennsylvania, ColorLoco's product developments include Blendy Pens (TM) and ColorSplitz(TM), children's markers that feature the capability to create new colors during application. Products from all three companies have demonstrated strong levels of initial acceptance and repeat purchases through a wide variety of retail distribution channels.

These acquisitions bring to Elmer's a strong entrepreneurial spirit, excellence in new product development, speed to market and a deep understanding of the category dynamics in which they compete. These capabilities, along with Elmer's own recent initiatives, will provide exceptional resources that will assist in meeting future growth objectives within the arts and crafts and educational categories.

"A high degree of independence will remain with each acquired company," said MacDougall. "Our business model for the acquisitions will guarantee that what made these companies of interest to Elmer's will be retained for the long term in both capabilities and people."

Company Background

Elmer's(R) Products, Inc., headquartered in Columbus, Ohio, has been a trusted brand and industry leader for nearly 60 years. Elmer's produces a variety of well-known adhesives, arts and crafts, educational and office products for use at home, school or business. Elmer's branded products are developed to provide project solutions and to fulfill the consumer's inherent needs to create, build and learn. Elmer's also markets the number one instant adhesive in the U.S., Instant Krazy Glue(R), X-ACTO(R), a leader in innovative cutting blades, knives and office supply products, and Bienfang(R) framing and arts and crafts products. With recent acquisitions, Scientific Explorer(TM), creator and distributor of science-based educational products for children, GiddyUp(TM), producer of licensed arts and crafts products for children, and ColorLoco(TM), maker of Blendy Pens, are each an Elmer's Products, Inc. company.

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