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FOR IMMEDIATE RELEASE

March 01, 2007
Contact: Tom Hardiman
Modular Building Institute
888-811-3288 x208 toll-free

4Q 2006 MBI/Baird Joint Survey Shows 17%+ Growth for Commercial Modular Construction Industry

Charlottesville, VA - The Modular Building Institute (MBI) has partnered with Robert W. Baird & Co. (Baird) for the purpose of preparing joint industry surveys on the commercial modular construction market. The fourth quarter 2006 survey results have been released and confirm that companies engaged in the commercial modular construction industry have experienced average revenue growth in the ranges of +17% for the past year, with expectations for that growth rate to continue in the upcoming year.

The fourth quarter survey was the third MBI/Baird joint survey and provides data on both manufacturers and dealers. Highlights are:

*17% growth in dealer leasing revenue, compared to one year ago, fueled by a 13.5% growth in fleet size and an improvement in utilization rates

*15% growth in dealer unit sales revenue compared to a year ago

*16% increase in manufacturer revenue compared to a year ago

*14% increase in manufacturer unit production vs. last year

*Dealers forecast a 21% increase in leasing growth in 2007 and a 14% increase in fleet spending

*Manufacturers forecast a 10+% increase in revenue growth for the upcoming year


"These survey results validate our optimism regarding the upcoming year. We anticipate 2007 will be a banner year as more end users turn to modular solutions," said MBI Executive Director, Tom Hardiman. "At a time when school construction costs are soaring and the demand for facilities keep rising, modular is becoming an increasingly attractive option for many districts. Additionally, Gulf Coast reconstruction efforts are beginning to have a measurable impact on our industry."

About MBI

Founded in 1983, the Modular Building Institute is an international nonprofit trade association representing commercial modular building manufacturers and distributors with membership in over 850 locations and 15 countries including the United States, Australia, Belgium, Canada, Chile, Denmark, France, Germany, Hungary, Japan, Mexico, the Netherlands, Peru, Poland, and the United Kingdom. Members serve seven primary markets: general office, education, retail, healthcare, government, security, and construction-site. For more information, visit www.modular.org.

About Baird

Baird, established in 1919, is an employee-owned, international wealth management, capital markets, private equity and asset management firm with offices in the United States, Europe and Asia. Baird's principal operating subsidiaries are Robert W. Baird & Co. in the United States and Robert W. Baird Group Ltd. in Europe. Baird also has an operating subsidiary in Asia supporting Baird's private equity operations.

Robert W. Baird & Co. is a member of the New York Stock Exchange and other principal exchanges and the Securities Investor Protection Corporation (SIPC). Robert W. Baird Ltd. and Baird Capital Partners Europe are authorized and regulated in the United Kingdom by the Financial Services Authority.

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