PhilChem Sold To Process Chemicals

S. B. Phillips Co. Inc., Greenville, S.C., has sold 100 percent interest in PhilChem Inc., Greer,
S.C., to Process Chemicals LLC, Tampa, Fla.While PhilChems growth has been rapid in both sales and
market share, in fact the company just completed a record year, we made the decision to sell in
order to focus more closely on our personnel services business,” said Sam B. Phillips Jr., owner
and CEO of S.B. Phillips Co. Inc.

November 1999