Anthony & Sylvan Pools Corporation Announces Nine-Month Financial Results MAYFIELD VILLAGE, Ohio, Oct. 22 /PRNewswire-FirstCall/ -- Anthony & Sylvan Pools Corporation (Pink Sheets: SWIM) announced results for its nine months ended September 30, 2004. Net sales for the nine months were $163,829,000, a 17.6% increase compared with $139,265,000 reported a year ago. The Company's operating income for the nine-month period ended September 30, 2004 was $4,999,000, excluding a non-cash accounting charge of $9,796,000 to revalue goodwill required by the previously-disclosed buyout offer (an operating loss of $6,207,000 including the charge). This compares with an operating profit of $3,767,000 for the nine-month period ended September 30, 2003. The Company will now include its unaudited financial statements for the nine-month period ended September 30, 2004, instead of its six-month results, in the proxy statement to be sent to shareholders today regarding the previously announced merger proposal. Financial statements, footnotes and independent accountant's review report for the nine-month period ended September 30, 2004 will be available to others by contacting the Company at 440-720-3301. Anthony & Sylvan operates in the leisure industry, offering in-ground, concrete residential swimming pools, spas and related products to its customers. The Company serves its customers through a network of 37 sales design centers in 22 geographic markets in 16 states. It also sells pool- related consumables, replacement parts, equipment and supplies through retail service centers. This press release may contain statements that are forward-looking. The Company assumes no obligation to update or revise any such statements, whether as a result of new information or otherwise. All forward-looking statements are based on current expectations regarding important risk factors, including but not limited to: the seasonal nature of our business; dependence on existing management; consumer spending; market conditions; interest rates; and weather. Accordingly, actual results may differ from those expressed in the forward-looking statements, and the making of such statements should not be regarded as a representation by the Company or any other person that results expressed therein will be achieved. DATASOURCE: Anthony & Sylvan Pools Corporation CONTACT: William J. Evanson, Executive Vice President & Chief Financial Officer, Anthony & Sylvan Pools Corporation, +1-440-720-3301 Web site: http://www.anthonysylvan.com/

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