(EMAILWIRE.COM, September 17, 2002 ) Half of all U.S. homeowners hold at least 50 percent of their net wealth in home equity. In comparison, fewer than half own stocks, according to the Joint Center for Housing Studies at Harvard University. With the sharp rise of home prices and the related surge in household wealth, homeowners outperformed the stock market when it came to return on investment, demonstrating a healthy trend in an otherwise dour market.

In fact, in 2001 consumers spent $99 billion on home additions and alterations, up ten percent from the previous peak in 1996 and up more than 62 percent since 1991. The National Association of Homebuilders has found that in the first 12 months after purchasing a new home, the typical owner spends $8,900 on furnishings and improvements; buyers of existing homes similarly invest nearly $7,800.

Hanley-Wood, LLC, publisher of building industry trade publication REMODELING, conducts an annual cost vs. value study for common home improvements. The fall 2001 report finds that a homeowner can expect to recoup 74 percent of the average $8,336 cost of having the exterior of their home painted. "Homeowners have to prioritize when it comes to home improvement projects, you can't afford to do everything at once," said Jim Cory, senior editor at Hanley-Wood. "We have found consistently year after year that painting provides the best return on the homeowner's investment."

158 million gallons of paint and primers were shipped in the first quarter of 2002, up from 137 million in 2001, proof that homebuyers and sellers recognize the cost vs. value of painting. "With interest rates still at record lows, home buying and selling activity triggers even greater demand for paint products," said Scott Richards, senior vice president of marketing for BEHR paints. "This activity, combined with a national mood shift towards staying home, translates into homeowners being able to recoup more of their investment than ever before."

Founded in 1947, BEHR Process Corporation is the largest provider of premium paints and stains to the North American Do-It-Yourself (DIY) home improvement market. BEHR manufactures paints, decorative finishes, primers, stains and surface preparation products, which are sold at The Home Depot and other specialty retailers and hardware stores. BEHR is a subsidiary of Masco Corporation (NYSE: MAS) and is headquartered in Santa Ana, CA.

For the next wave of savvy homebuyers and sellers, BEHR offers a few tips to calculate a Painting Project ROI, including how much paint is needed. See attachment

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Produced for BEHR Process Corporation

Contacts:
Nancy Joseph
for BEHR Process Corporation
(310) 226-3078
nancy_joseph@lax.bm.com

Patrick George
for BEHR Process Corporation
(310) 226-3062
patrick_george@lax.bm.com

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Contact Information:
BEHR Process Corporation
Joseph Nchor
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