Newsroom

For Immediate Release

Noland Transferring to NASDAQ SmallCap
NEWPORT NEWS, Va., July 17, 2003--Noland Company, a leading independent wholesale distributor of equipment and supplies to the construction industry and manufacturing, today announced that NASDAQ has approved its application to transfer the company’s share listing from the NASDAQ National Market to the NASDAQ SmallCap Market. The change will take effect at the start of trading on July 18, 2003.

Noland is transferring to the SmallCap Market because it no longer meets NASDAQ’s National Market public float requirement of 750,000 shares. Noland chose to transfer its listing rather than seek to comply with the requirement.

“Our move to the NASDAQ SmallCap Market should be transparent to the investment community,” said Chairman and CEO Lloyd U. Noland, III. “We will continue to trade under the same symbol on the SmallCap Market, with investors having the same access to share trading information as before.”

Noland, headquartered in Newport News, operates 98 branches in 13 states and distributes products in the plumbing, HVAC, water systems, electrical, and industrial fields. Its trading symbol is NOLD.

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