MERGES INSULATED PRODUCTS INTO ENGINEERED PRODUCTS DIVISION

          Warwick, RI - - June 19, 2001 - - ETCO Insulated Products, formerly located in Bristol, RI, will be merged with the Engineered Products operations in Warwick, Rhode Island. Mr. Stephen Segerson and Mr. John Stiness, general managers of Engineered Products, will take over responsibilities of Insulated Products. Mr. David Rheault will continue to have product responsibility for Insulated Products and will become national accounts product specialist.

          Mr. Gus Cordeiro, president of Insulated Products division in Bristol, Rhode Island has retired after 34 years with ETCO. Mr. Cordeiro worked his way up from a machinist to president of the Insulated Products division in Bristol, Rhode Island. Mr. Cordeiro designed and patented several products made at Insulated Products and throughout ETCO. He will remain available for consultation with ETCO's Research Center in Sarasota, Florida.

          Mr. David Dunn, Chairman of ETCO said, "We will certainly miss Gus Cordeiro who has been instrumental in the companies growth over the years. His has been a highly valued employee and we wish him all the best."

          Mr. Dunn continued, "His retirement caused us to evaluate the operations of both Engineered Products and Insulated Products which have similar customers and production methodologies. As a result of that evaluation process we determined that we could operate more efficiently by consolidating the two divisions and that we could do so without any interruption in customer service which is critical to us. I very much appreciate Gus Cordeiro's assistance in the process and I am confident that John Stiness and Steve Segerson will be able to continue to grow that business."

For more information contact:

ETCO Incorporated
John J. Macaluso, Marketing Mgr.
25 Bellows St.
Warwick, RI 02888
TEL (401) 467-2400
FAX (401) 467-9230
e-mail: info@etco.com
website: www.etco.com