BASIC'S STORY

Basic Supply Company, Inc. opened for business on November 22, 1977. The initial objective of the corporation was to distribute materials such as pipe, valves, fittings, and tubing for use in the construction industry. Shortly thereafter, residential and commercial water meters and a line of chemical and maintenance items were added.

The company was initially capitalized with the personal resources of Joseph L. Williams and David N. Harris, an acquaintance of Mr. Williams, and at that time, the Personnel Manager of Inco Alloys International, Inc. There were several other initial investors, who all later sold their interests to Williams and Harris. Subsequently, a loan from the U.S. Small Business Administration was secured and in 1983, Williams Investments, Inc., comprised of family members of Mr. Williams, made a significant investment in the company. In 1997, Mr. Harris sold his stock back to the company and is no longer involved in the business.

As a result of various obstacles, including the inability to obtain suppliers, the company diverted its efforts almost exclusively into the distribution of industrial maintenance supplies, sanitary/janitorial supplies and paper products.

The history of Basic Supply Company, Inc. is characterized by exceptionally high quality goods and services at a reasonable price, sound financial and organizational management, aggressive marketing, and balanced business development with controlled growth. Williams (former mayor of the City of Huntington) is active in community affairs and serves as a role model in the community at large, and especially in the minority community. Since the company's inception, he has been at the vanguard of the firm's efforts to survive and grow. He can be credited with being the driving force for the many achievements of Basic Supply, and particularly for the development of a widespread reputation consistent with the company philosophy: "The Relentless Pursuit of Perfection Is (And Always Has Been) The Goal of Basic Supply Company". Additionally, the company has refused to succumb to barriers interfering with its minority identification. As a result, the company has nurtured mutually beneficial relationships with large organizations such as DuPont, General Electric, Union Carbide, Marathon/Ashland Oil, American Electric Power, Shell Chemical, Flexsys America, the U.S.Dept. of Energy and many others. The company, under Williams' and Harris' leadership, also successfully pursued a two-year effort to convince SBA to waive the "non-manufacturing rule" for metal products, which was effectively shutting Basic Supply out of the Federal market with regard to metal products.

Having worked diligently over the years to promote small business and its welfare, Williams was appointed to the U.S. Small Business Administration's National Advisory Council (NAC) in 1997 and served in that position for 4 years. He also has been appointed by the governor of W.Va. to the Marshall University Institutional Board of Governors and also to W.Va.'s Workforce Investment Council.

COMPANY RELATIONS WITH EMPLOYEES AND CUSTOMERS

The company's relation with its customers is characterized by its repeat customers. For example, Basic's supply agreement with DuPont and its subsidiary, Fairmont Supply, has been in effect for 20+ years. Other long term contracts/relationships include: Marathon/Ashland Petroleum, Flexsys America, L.P. (formerly Monsanto Corp.), America Electric Power, and governmental agencies such as the Department of Veterans Affairs, the U.S. Printing Office, and the U.S. Treasury. These successful and profitable business relationships are a result of the company's philosophy of unequaled service at a reasonable price, personal attention to every customer and every detail of the business. Great care has been taken in hiring the right people at the right time for the right jobs, resulting in a pricing structure which is competitive in both private and governmental markets. For many years, Williams was responsible for marketing, with an office support staff of one. When it became apparent that he was "spread too thin", additional managerial and sales staff was hired which allowed Williams to concentrate on those matters which are entirely appropriate for a corporate president: financial tracking and management, operations management, delegation of authority, image development, and executive decision making.

BASIC Supply is dedicated to customer service and to seeing that every customer's individual needs are satisfied to the maximum extent possible.

The staff at BASIC Supply is second to none when it comes to professionalism, enthusiasm, and customer service.