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November 2, 2006

Ferguson Acquires HVAC, Fire Sprinkler Distributors

Ferguson, Newport News, VA, has acquired Gulf Refrigeration Supply Inc. Gulf is a distributor of HVAC equipment, parts and supplies based in Tampa, Florida. In the year ended June 30, 2006, Gulf had revenue of $54.9 million and gross assets of $8.8 million.

Ferguson has also acquired Kandall Fabricating & Supply Corporation KF Industries, LLC. Kandall is a fabricator and distributor of fire sprinkler systems based in Passaic, New Jersey. In the year ended Dec. 31, 2005, Kandall had revenue of $23.2 million and gross assets of $9.7 million.

Ferguson parent company Wolseley plc, distributor of plumbing and heating products and building materials, announced six bolt-on acquisitions in October for an aggregate consideration of £61 million (US$116.4 million). In a full year, these bolt-on acquisitions are expected to add approximately £102 million (US$194.6 million) in additional revenue.

Since the beginning of the financial year on 1 August 2006, a total of 16 bolt-on acquisitions in Europe and North America have been completed for an aggregate consideration of approximately £221 million (US$421.7 million). These 16 acquisitions are expected to add approximately £340 million (US$648.8 million) to group revenue in a full year.

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