PW EAGLE REPORTS FIRST QUARTER RESULTS

William H. Spell, PW Eagle Chief Executive Officer, stated, "Although our net income and sales are below the first quarter of last year, we are pleased that for the first time in three quarters, the Company’s EBITDA is positive. We are encouraged by the improvement in the overall economy and the PVC resin markets, and the effect that it has and will have on our business."

Since late summer 2001, PW Eagle has taken steps to improve performance, reduce fixed charges and improve liquidity. These initiatives have reduced operating costs by more than $8 million. During the first quarter of this year, the Company entered into revised loan agreements with our senior and subordinated lenders, completed a sale and leaseback transaction with certain of our properties, and sold our Hillsboro, Oregon facility. The financial restructuring was completed on February 28, 2002.

The Gross Domestic Product (GDP) directly affects the PVC resin industry and the PVC pipe industry, and the Company recognizes that the business is tied to economic cycles. GDP dropped 1.3% in the third quarter of 2001, grew 1.7% in the fourth quarter and was recently reported to have grown 5.8% in the first quarter of 2002. The Company believes that PW Eagle and the PVC pipe industry have experienced a significant increase in demand in the first quarter of 2002 compared to the same quarter of last year, and the fourth quarter of 2001.

Demand for PVC resin is strong and resin producers have implemented a two-cent per pound price increase for February, a two-cent per pound price increase for March and a two-cent per pound price increase for April. In addition, they have announced a two-cent per pound price increase for May and a four-cent per pound price increase for June. PW Eagle and the PVC pipe industry have implemented and announced several pipe price increases in response to these resin price increases. Spell concluded, "A stronger economy, strong demand for PVC resin and PVC pipe and rising product prices will enable PW Eagle to generate significantly improved financial results in the second quarter of this year."

Annual Meeting and First Quarter 2002 Webcast & Conference Call
PW Eagle will hold its Annual Meeting and first quarter 2002 webcast and conference call on Thursday, May 2, 2002 at 3:30 Central Time to discuss 2001 and first quarter 2002 results. The conference call will be available live on the Internet at www.pweagleinc.com. The call will also be archived at that location for one week following its original webcast. The conference call telephone number is (800) 289-0569. Please use 169411 as the confirmation code to access the call.

INFORMATION AND STATEMENTS IN THIS PRESS RELEASE MAY CONTAIN FORWARD-LOOKING INFORMATION-ACTUAL RESULTS MAY DIFFER

PW Eagle, Inc.’s statements that are not strictly historical and those made by William H. Spell regarding the Company’s beliefs and expectations that: (i) the improvement in the overall economy will have a positive effect on PW Eagle’s business, and (ii) a stronger economy, strong demand for PVC resin and PVC pipe and rising product prices will enable the Company to generate significantly improved financial results in the second quarter of this year, are forward-looking statements made under the safe harbor provisions of the Private Securities Litigation Reform Act. These statements involve known and unknown risks and uncertainties that may cause the actual results to differ materially from those expected and forecasted in this press release. Actual results could differ as a result of: (i) a further slowdown of economic growth in the United States, particularly west of the Mississippi; (ii) the failure of the Gross Domestic Product to continue to grow beyond its first quarter level; (iii) an increase in interest rates; (iv) a decline in the construction of commercial and residential building; (v) a decline in our raw material prices; (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; (vii) adverse weather conditions and (viii) other risks described from time to time in our periodic reports.

About the Company
PW Eagle, Inc. is a leading extruder of PVC pipe and polyethylene tubing products. The Company operates eight manufacturing facilities in the midwestern and western United States.
PW Eagle’s common stock is traded on the Nasdaq National Market under the symbol "PWEI".