Industry Report: FOR AIR PRODS & CHE(APD) provided BY JANNEY MONTGOMERY SCOTT

Janney Montgomery Scott issued Industry Report February 19, 2004: AIR PRODS & CHE, DU PONT (EI) DE, DOW CHEMICAL, EASTMAN CHEM CO, GEORGIA GULF, LYONDELL CHEM, MILLENNIUM CHEM, 3M CO, NOVA CHEMICALS, OLIN CORP, PPG INDS INC, PRAXAIR INC, ROHM AND HAAS, VULCAN MATLS CO, ARCH CHEMICALS