SOURCE: LaPolla Industries, Inc.

January 17, 2007 09:00 ET

LaPolla Enhances Board of Directors

Prepares for Next Phase of Strategic Development

HOUSTON, TX -- (MARKET WIRE) -- January 17, 2007 --LaPolla Industries, Inc. ("LaPolla" or the "Company") (AMEX: LPA) today announced enhancements to its Board of Directors, Committee Assignments, and Appointment of Board Advisor.

Richard J. Kurtz, Chairman of the Board, stated, "LaPolla made incredible progress in 2006, continuing the momentum from 2005, and has even greater expectations for 2007. LaPolla's aggressive growth necessitated enhancements to the Board and its standing Committees to not only meet upcoming regulatory requirements but also to move LaPolla into its next phase of strategic development." Mr. Kurtz concluded by saying, "With LaPolla's foundation now firmly established, we are bringing on additional Board members and advisors with specific knowledge and experience in preparation for 2008 and beyond."

Board of Directors:

- Richard J. Kurtz - Chairman of the Board since February 8, 1999, director since November 23, 1998, and majority stockholder of LaPolla. Chairman Kurtz is chief executive officer of the Kamson Corporation, a privately held corporation, in operation for 29 years. The Kamson Corporation is located in Englewood Cliffs, New Jersey and currently owns and operates eighty one investment properties in the Northeastern U.S. Mr. Kurtz is a graduate of the University of Miami and a member of its President's Club. He resides in New Jersey and is vice president and a member of the Board of Jewish Community Center on the Palisades in Tenafly, New Jersey. Mr. Kurtz is an elected member of the Board of Trustees and Foundation Board for Englewood Hospital and Medical Center of New Jersey and a member of the Jewish Home and Rehabilitation Center's Board of Governors.

- Lt. Gen. Arthur J. Gregg, US Army (Ret.) - Director since February 21, 2000. Lt. Gen. Gregg has more than fifty six years of distinguished professional experience. His record of performance repeatedly demonstrates the ability to lead organizations to success including new businesses and turn around situations. Lt. Gen. Gregg continues an active schedule as a member of several corporate and academic boards. He chairs three of these boards. His education includes Harvard University, John F. Kennedy School of Government Concentrated Executive Program in National Security; Saint Benedict College Atchison, Kansas, Bachelor of Science in Business Administration (Summa cum Laude); Army War College, Carlisle Barracks, Pennsylvania, one-year graduate level college; Command and General Staff College, Fort Leavenworth, Kansas, One-year graduate level college.

- Jay C. Nadel - Appointed January 16, 2007. Mr. Nadel is chairman of the board of Englewood Hospital and Medical Center since September 2006. In addition to being an independent consultant since 2004, Mr. Nadel is an employee of Sloan Securities since January 2006. As a CPA and senior financial services executive, Mr. Nadel has extensive business management and operations experience. From 2002 to 2004, he was executive vice president of Bank of New York's Clearing Services where he oversaw strategic planning; 1986 to 2001, a partner in the investment firm of Weiss, Peck & Greer/Robeco, where he was chairman of the operations committee and managing director of the firm's Clearing Services Division; and 1980 to 1986, he was a manager at KPMG Peat Marwick, New York, where he provided audit services. Mr. Nadel is a Certified Public Accountant since 1980 and has a Bachelor of Science from the University of Maryland.

- Augustus J. Larson - Appointed January 16, 2007. Mr. Larson is president of Larson Capital, LLC, a commercial real estate finance and investment company, in Far Hills, New Jersey. He founded Larson Capital, LLC in 2004. From 2001 to 2003, Mr. Larson was managing director of PW Funding and directed its commercial and multi-family real estate loan production in the metro New Jersey and New York markets. Prior to 2001, He was a managing director and principal Larson Financial Resources, a commercial mortgage banking firm. Mr. Larson, along with his partners, founded Larson Financial Resources in 1985, which was subsequently sold to PW Funding in 2000. At Larson Financial Resources, he was responsible for all commercial and multi-family real estate finance activities along with borrower and lender relations. Mr. Larson has a Bachelor of Arts from Colgate University in New York. He is also a certified mortgage banker and an active member in numerous professional and charitable organizations.

- Douglas J. Kramer - Appointed January 16, 2007. Mr. Kramer joined the Company in February 2005 as president and chief operating officer and was named Chief Executive Officer and President in July 2006. Mr. Kramer has 18 years Industry Experience including his most recent position as vice president of the Construction Products Division for Foam Enterprises, LLC, a wholly owned subsidiary of the BASF Corporation, where he was employed from 1997 to 2004. Mr. Kramer has a background in Liberal Arts from Penn State University and the University of Texas.

- Michael T. Adams - Director since December 20, 2004. Mr. Adams has more than ten years experience with LaPolla. He was named Chief Governance Officer, Executive Vice President, and Secretary in July 2006. During his term with LaPolla, Mr. Adams served as president and interim chief executive officer from 2003 to 2005, executive vice president and corporate secretary from 1999 to 2003, and held various officer positions in the Company's former subsidiaries since he first joined the Company in 1997. He has a Bachelor of Science and Master of Science in business administration, as well as Juris Doctor, from Nova Southeastern University in Fort Lauderdale, Florida.

Committee Assignments:

- Audit Committee - Jay C. Nadel, Chairperson, Arthur J. Gregg, and Augustus J. Larson

- Compensation Committee - Arthur J. Gregg, Chairperson, Jay C. Nadel, and Augustus J. Larson

- Governance Committee - Michael T. Adams, Chairperson, Arthur J. Gregg, and Augustus J. Larson

Other:

Gilbert M. Cohen, a former member of the Board of Directors, passed away on January 11, 2007. Prior to his departure, Mr. Cohen was chairperson of the Audit Committee and a member of the Compensation Committee since November 12, 2004.

Board Advisor:

- Howard L. Brown - Retained January 16, 2007. Most recently, Mr. Brown was chairman and chief executive officer of Allied Office Products (Allied), headquartered in Clifton, New Jersey, the country's largest independent dealer of office products and services, which was sold to Office Depot in 2006. Allied, prior to the sale, had annual sales of more than $300 Million. Since 1998, Allied acquired 30 companies serving geographies across the United States through state-of-the-art distribution facilities, regional distribution centers, local sales offices, and OneSolution™ account executives. Allied is best know for its OneSolution™ approach, which allows companies to outsource their total procurement needs. OneSolution™ offers a vast selection of products and services to help customers run their operations more smoothly and drive down hard and soft business costs. Through Allied's OneSolution™ offering, customers can strategically source a multitude of distinct product categories with one order, one delivery, one invoice, and one remittance, all orchestrated by one salesperson. To further optimize logistics and maintain its leadership position, Allied deployed a business intelligence solution that increased visibility into its performance, helped Allied's managers make more informed decisions to improve the bottom line, extend visibility of Allied's performance to all levels of the organization, and motivate and align Allied's geographically distributed employees.

About LaPolla Industries, Inc.

LaPolla Industries, Inc. is a national manufacturer and distributor focused on several basic segments: Coatings, Foam, Paints, Sealants, Adhesives, Equipment, and All Other. Within these business segments, LaPolla has invested resources in a variety of products targeting commercial and industrial and residential applications in the roofing, construction and paint industries. For more information on LaPolla visit www.lapollaindustries.com.

Contact Information

  • Company Contacts:

    Douglas J. Kramer
    CEO
    John A. Campbell
    CFO
    Michael T. Adams
    CGO
    (281) 219-4700 (t)
    (281) 219-4701 (f)