Wright Tool Receives Gold "Circle of Excellence" Award From Sphere 1

Barberton, OH - June 2004 - Wright Tool recently received a Gold "Circle of Excellence" award from Sphere 1, a national purchasing cooperative of tool and fastener distributors. Known for its sockets, wrenches and ratchets, Wright Tool is a leading manufacturer of professional-quality hand tools.

Wright Tool received the gold award for achieving outstanding sales growth in 2003. The company's sales increased 152 percent in 2003, from the previous year. The award was presented in an awards ceremony in Scottsdale, Arizona on May 13, 2004. Greg Helbling, vice president, sales, at Wright Tool accepted the award. "We are pleased to recognize Wright Tool for impressive sales growth with this award," said Carol Shackelford, president and CEO, Sphere 1. "Wright Tool truly had an outstanding year." "Wright Tool is honored to receive this recognition," commented Helbling. "And, we look forward to maintaining our strong sales growth into 2004."

Wright Tool competed against 41 companies to receive the gold award. Ten companies were recognized in total at the ceremony, which is held annually. Sphere 1 is a nationwide purchasing cooperative, owned and operated by independent tool and fastener distributors. The cooperative offers support to each owner-distributor in the areas of purchasing, management, information systems, strategic planning, and contractor services.

For more information on Sphere 1, please contact: Sphere 1, 20365 Via Sanlucar, Yorba Linda, CA 92887. Phone: 714.777.6724. Fax: 714.970.0933. Web: www.sphere1.coop

Wright Tool offers more than 3,600 tools for the industrial, contractor and MRO markets.