849706--3/31/2006--ADVANCED_ENVIRONMENTAL_RECYCLING_TECHNOLOGIES_INC

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{operation, natural, condition}
{customer, product, revenue}
{product, liability, claim}
{debt, indebtedness, cash}
{acquisition, growth, future}
{loan, real, estate}
The loss of one or more of our key customers could cause a substantial reduction in our revenues and profits If we are unable to comply with certain debt covenants, our financial position and operations could be adversely affected Restrictions regarding increased manufacturing capabilities could restrain our business growth Our growth is limited by the availability of human capital resources Declines in construction activity may adversely affect our business Fire disruptions may adversely affect our business

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