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• New Website Heats Up Debate On Water Heaters: Is Tank or Tankless Better?

• Raypak Named Vendor of the Year By Pool Industry Distributor Group

• Rheem Names Mike Barnes Director of Residential National Accounts

• Raypak Strengthens Heat Pump Portfolio With Acquisition of Manufacturing Assets

• Rheem Appoints
  JR Jones President and Chief Executive Officer

• Rheem Appoints Christopher Peel Corporate Senior VP and Chief Operating Officer

• Rheem Selects Industry Veteran Peter Reynolds To Lead Water Heating Division

• Rheem Appoints
  Tim Shellenberger to Vice President, General Manager, Tankless Water Heating

• Rheem Extends
  RCR Sponsorship Agreement Through 2009

• Rheem Announces
  New Primary Racing Sponsorship with Kevin Harvick, Inc.

Raypak Strengthens Heat Pump Portfolio
With Acquisition of Manufacturing Assets

New Manufacturing Capability
Increases Raypak’s Ability to Compete

ATLANTA (June 26, 2008) — Raypak, Inc. today announced the acquisition of certain manufacturing assets of Pool Fact Industries, LLC. A swimming pool heat pump manufacturer, Pool Fact Industries was a long-time supplier to Raypak, which produces commercial and residential boilers and pool and spa heaters. Because heat pumps represent a significant growth opportunity in the swimming pool market, this additional manufacturing capability was critical to Raypak’s product strategy. Read more...

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Raypak will manufacture heat pump pool heaters at the former Pool Fact facility in Arcadia, Fla., which will transition to a Raypak facility and operate as Raypak Arcadia. The Raypak Arcadia facility will work closely with the Rheem Air Conditioning operations in Fort Smith, Ark., which produces technologically advanced heat pumps for heating and cooling products. Raypak’s superior manufacturing operations, coupled with its engineering design expertise, will yield significant product improvements for customers.

Rheem executive management has been implementing a progressive organizational restructuring by optimizing the significant synergies of its Heating & Cooling and Water Heating divisions. Through this work, Rheem is repurposing and adding new facilities, expanding its product portfolio and leveraging its technical resources. This development marks a significant advancement as part of the company’s overarching business plan and strategy.

“This latest development will lead to further operational efficiencies and reduce product delivery time,” said acting general manager of Raypak, Peter Reynolds. “Raypak has significantly improved its position in the heat pump market and positively contributed to the restructuring of the Raypak enterprise based on this key attainment.”

The newly acquired company will be overseen by Kevin McDonald. Greg Battisto, a former operations manager with Rheem Air Conditioning, will serve as plant manager and oversee the Raypak Arcadia operations. The Raypak Arcadia plant has begun to integrate the systematic operations model of the Raypak Oxnard facility located in Oxnard, Calif.

About Rheem Manufacturing Company
Rheem Manufacturing Company (www.rheem.com) is a privately held company with headquarters in Atlanta. In its 81st year of operation, the company manufactures a full-line of high-quality residential and commercial heating and cooling systems, tank and tankless water heaters, swimming pool heaters and commercial boilers throughout North America and world markets. The premium brands of Rheem Manufacturing Company include Raypak, Ruud and Rheem. Rheem Manufacturing Company is the official heating, cooling and water heating supplier to Richard Childress Racing and Kevin Harvick Inc. as well as the major associate sponsor of the No. 29 Sprint Cup® car driven by Kevin Harvick, 2007 Daytona 500 Champion, 2007 Craftsman Truck Series Champion and 2006 Busch Series Champion. Rheem is also the primary sponsor of Kevin Harvick Inc.’s No. 33 and No. 77 cars in Nationwide® Series and sponsor of KHI's 2 and 33 entries in The Craftsman Truck Series.

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