805023--3/9/2006--GUNDLE_SLT_ENVIRONMENTAL

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{customer, product, revenue}

{debt, indebtedness, cash}

{condition, economic, financial}

{operation, international, foreign}

{provision, law, control}

{product, liability, claim}

{competitive, industry, competition}

{cost, regulation, environmental}

{acquisition, growth, future}

{personnel, key, retain}

{product, market, service}

{cost, contract, operation}

If we are unable to obtain our raw materials at favorable prices, it could adversely impact our financial condition. We are dependent on sales to Waste Management, our largest customer. We generally do not have long-term contracts with our customers, and our customers generally may terminate their relationship with us at any time. Our profitability is subject to inherent risks because of the fixed nature of almost all of our contracts. We operate in a highly competitive industry. We are subject to certain risks associated with our foreign operations that could harm our revenues and profitability. Currency exchange rate fluctuations could have an adverse effect on our revenues and financial results. The costs and difficulties of acquiring and integrating complementary businesses and technologies could impede our future growth and adversely affect our competitiveness. If we are unable to retain key executives and other personnel, our growth may be hindered. Our product deliveries and installations may fluctuate due to seasonality and other factors that may adversely affect our cash flow. Product liability and indemnification claims could have a material adverse effect on our operating results. Our ability to maintain insurance may be limited, and our coverage limits may not be sufficient for all claims. We may experience significant warranty claims. A downturn in either the economy generally or the development of landfills in particular would negatively impact our business. A downturn in either the economy generally or the development of landfills in particular would negatively impact our business. Regulatory and technological changes may adversely affect us. We may be adversely affected by environmental and safety regulations to which we are subject. Our substantial level of indebtedness could have a material adverse effect on our financial condition. The indenture governing the senior notes and the agreements governing our other indebtedness, including our senior credit facility, impose significant operating and financial restrictions, which may limit our ability to make payments on the senior notes or prevent us from capitalizing on business opportunities and taking certain corporate actions. We may not be able to satisfy our obligations to the holders of the senior notes upon a change of control. The principal stockholder of GEO Holdings controls us and could delay, deter or prevent a change of control or other business combination or otherwise cause us to take actions with which you as a holder of senior notes may disagree or which might not be in your best interests. The principal stockholder of GEO Holdings controls us and could delay, deter or prevent a change of control or other business combination or otherwise cause us to take actions with which you as a holder of senior notes may disagree or which might not be in your best interests.

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805023--3/9/2006--GUNDLE_SLT_ENVIRONMENTAL_INC