Consolidated Income Statement Information
(In thousands, except for per share amounts

		Three months ended September 30,			Nine months ended September 30,
		2004	2003		2004	2003
Net sales		$117,941	$96,241		$342,710	$249,590
Gross profit		17,605	7,070		51,577	30,077
Restructuring and related costs		--	--		1,608	--
Income (loss) from continuing operations		(240)	(5,450)		(1,170)	(7,075)
Adjustments to reconcile to EBITDA:
	Interest	4,655	3,010		11,697	8,609
	Taxes	(200)	(3,384)		(739)	(4,392)
	Depreciation	2,688	2,773		7,753	8,327
	Amortization	177	353		420	514
EBITDA		$7,080	$(2,698)		$17,961	$5,983
Income (loss) per common share from continuing operations
Basic		$(0.03)	$(0.80)		$(0.17)	$(1.04)
Diluted		$(0.03)	$(0.80)		$(0.17)	$(1.04)

During the quarter, the Company increased its estimate of the value of its majority owned subsidiary, USPoly Corp., based on its operating performance and the previously disclosed acquisition of the business of Uponor Aldyl Company. This resulted in a non-cash charge of $0.9 million to interest expense in the third quarter of 2004, representing the increase in the value of a warrant to purchase shares in USPoly held by USPoly’s subordinated lender.

Jerry Dukes, President, commented, “Our business continued its improvement from the prior years during the third quarter. Our sales volumes remained at good levels and our operational efficiencies continue to yield results. As anticipated, our margins decreased from the second quarter of 2004, as selling prices did not increase as much as our raw material costs. However, our results, both for the three and nine month periods of 2004 represent a significant improvement from the prior year.”

Scott Long, Chief Financial Officer, stated, “Our operating performance, combined with our recently completed refinancing, positions us to continue on our strategic plan of improving operations, paying down debt and, as debt levels permit, begin paying dividends and repurchasing our common stock.”

Third Quarter 2004 Conference Call

PW Eagle will hold its third quarter 2004 conference call on Wednesday, November 10, 2004 at 3:00 pm Central Time to discuss the third quarter 2004 results. The conference telephone number is 800-510-9661, use 46466022 as the passcode to access the call. The call will be archived for one week at 888-286-8010, use 81890490 as the passcode for access.

PW Eagle, Inc. is a leading extruder of PVC pipe products. USPoly Corp, a subsidiary of PW Eagle, is an extruder of small diameter polyethylene pipe. The Company and its majority-owned subsidiary, USPoly Corp., operate thirteen manufacturing facilities across the United States. PW Eagle’s common stock is traded on the Nasdaq National Market under the symbol “PWEI”.

Forward Looking Statements

THIS PRESS RELEASE CONTAINS FORWARD-LOOKING INFORMATION AND ACTUAL RESULTS MAY DIFFER

Statements that PW Eagle, Inc. may publish, including those in this announcement that are not strictly historical are “forward looking” statements made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Statements made in this press release, including statements by Scott Long that the Company’s operating performance, combined with the Company’s recently completed financing, position the Company to continue its strategic plan of improving operations, paying down debt and, as debt levels permit, begin paying dividends and repurchasing its common stock, are “forward looking” statements which involve known and unknown risks and uncertainties that may cause the actual results to differ materially from those expected and stated in this announcement. Actual results could differ if the economy, and particularly the segments of the economy that impact the Company’s business, does not grow and perform at least as well as forecast. In addition, actual results could differ as a result of: (i) a slowdown in the United States economy; (ii) the failure of the Gross Domestic Product to improve during the remainder of 2004 and thereafter; (iii) an increase in interest rates; (iv) a decline in the construction of commercial and residential building; (v) a fluctuation in raw material prices; and (vi) a greater supply of PVC and PE pipe than market demand for such products caused by cyclical fluctuations in the supply and demand for pipe.

It is not possible to foresee or identify all factors that could cause actual results to differ from expected or historical results. As such, you should not consider any list of such factors to be an exhaustive statement of all risks, uncertainties or potential inaccurate assumptions. We undertake no obligation to update “forward-looking” statements. In addition, the use of the term “EBITDA” is not intended to be an alternative to the financial results under generally accepted accounting principles in the United States of America.