BMC West’s record results in 2005 demonstrate the strength of our management team and the Company’s success in providing a full range of building materials and services in key homebuilding markets. We are committed to being the preferred supplier of high-quality building materials, manufactured building components and installation services to custom and regional homebuilders, and we are creating value through an expansion of the products and services we provide in existing and new markets. The growth of the housing industry and high demand for new homes over the last five years has provided BMC West with significant opportunity to be successful in its markets. Capitalizing on industry trends, we have continued to increase our sales of installed product services while also effectively managing our inventory and streamlining our operations to create efficiencies and improve returns. During the year, we maintained our focus on operating under our unified market management structure. Unified market management provides our managers with the independence necessary to react to local market shifts and customer needs, while at the same time ensuring best practices throughout the organization. This structure is based on utilization of closest-point shipping and coordination of product offerings to provide rapid response and improved customer service from our business units within a specific market. Our strategy allows us to evaluate the changing demands in our markets and then subsequently grants us the flexibility to enhance our regional services independently. In 2005, BMC West continued to grow its business through organic methods as well as through acquisitions. Each of our acquisitions and expansion initiatives was aimed at achieving the Company’s overall objective of providing the best service possible to our customers. We completed the acquisition of Quality Truss in September, which provides truss and roof components in the Boise, Idaho market. The transaction complements BMC West’s existing business in the InterMountain region, as well as enhances our ability to service our customer base. BMC West also added a truss plant to expand our operations and value-added services in Montana. Finally, through the consolidation of two locations into a single new state-of-the-art millwork facility and the expansion of operations in Austin, we have increased our capacity and productivity. These changes are allowing us to manage our costs and better serve our customers in an important area of the Texas market. In February of 2006, BMC West acquired the assets of Home Lumber, which provides lumber, building materials and millwork to professional contractors and builders from three locations in Houston. This transaction significantly expands our operations in the Houston market. We believe Home Lumber will be a valuable addition to BMC West and will enable us to increase our market coverage and further strengthen our successful operations in the greater Houston market, which is one of the top five markets in the country. BMC West continues to approach the market with a “Best Value Model,” operating under the philosophy that we provide the best combination of services, product mix and level of professionalism. We approach our customers as consultants, assisting with the evaluation of a project, conducting field visits and determining the best solution to meet their needs. Providing innovative products and cost-saving ideas has enabled BMC West to perform with excellence and continue serving our regional, local and custom homebuilding customers in new ways and new markets. The products and services we offer add value to the homebuilding equation.