<SUBMISSION>
<ACCESSION-NUMBER>0000790730-04-000011
<TYPE>10-Q
<PUBLIC-DOCUMENT-COUNT>1
<PERIOD>20040829
<FILING-DATE>20040924
<DATE-OF-FILING-DATE-CHANGE>20040924
<FILER>
<COMPANY-DATA>
<CONFORMED-NAME>AMERON INTERNATIONAL CORP
<CIK>0000790730
<ASSIGNED-SIC>3270
<IRS-NUMBER>770100596
<STATE-OF-INCORPORATION>DE
<FISCAL-YEAR-END>1130
</COMPANY-DATA>
<FILING-VALUES>
<FORM-TYPE>10-Q
<ACT>34
<FILE-NUMBER>001-09102
<FILM-NUMBER>041045325
</FILING-VALUES>
<BUSINESS-ADDRESS>
<STREET1>245 S LOS ROBLES AVE
<CITY>PASADENA
<STATE>CA
<ZIP>91101
<PHONE>6266834000
</BUSINESS-ADDRESS>
<MAIL-ADDRESS>
<STREET1>245 S LOS ROBLES AVE
<CITY>PASADENA
<STATE>CA
<ZIP>91101
</MAIL-ADDRESS>
<FORMER-COMPANY>
<FORMER-CONFORMED-NAME>AMERON INC/DE
<DATE-CHANGED>19920703
</FORMER-COMPANY>
</FILER>
<DOCUMENT>
<TYPE>10-Q
<SEQUENCE>1
<FILENAME>ameron_10q304.htm
<TEXT>
<HTML>

<head>
</head>

<BODY TEXT="#000000" BGCOLOR="#FFFFFF" ALINK="#0000FF" HLINK="#FF0000" VLINK="#800080">

<FONT SIZE=5>
<STRONG>
<CENTER>
                                        UNITED STATES
</CENTER>
</STRONG>
</FONT>
<p style="margin-top: 0; margin-bottom: 0">

<FONT SIZE=5>
<STRONG>
<CENTER>
                        SECURITIES AND EXCHANGE COMMISSION
</CENTER>
</STRONG>
</FONT>
</p>
<p style="margin-top: 0; margin-bottom: 0">

<FONT SIZE=4>
<CENTER>
								Washington, D.C. 20549

</CENTER>
</FONT>

<p>

<FONT SIZE=5>
<STRONG>
<CENTER>
											FORM 10-Q</CENTER></STRONG></FONT>
<P>

<font size=2>
<Strong>
            (Mark One)
</STRONG>
</FONT>
<p>

<STRONG>
<CENTER>
              /X/ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d)OF </CENTER></STRONG>
<STRONG>
<CENTER>
              			THE SECURITIES EXCHANGE ACT OF 1934
</CENTER>
</STRONG>
<P>

<CENTER>
                <font size="2"><b>
                For the quarterly period ended August 29, 2004</b></font></CENTER>
<P><CENTER><font size="2"><b>or</b></font></CENTER>
<P>

<STRONG>
<CENTER>
              / / TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF
</CENTER>
</STRONG>
<STRONG>
<CENTER>
						 	THE SECURITIES EXCHANGE ACT OF 1934
</CENTER>
</STRONG>
<p>

<center>
<b>
<font size=2>
 			For the transition period from _______________ to _______________
<p>

						Commission File No. 1 - 9102
</font>
</b>

</center>
<p style="margin-top: 0; margin-bottom: 0">

&nbsp;
</p>

<p style="margin-top: 0; margin-bottom: 0">

<CENTER>
<FONT SIZE=5>
<STRONG>
					AMERON INTERNATIONAL CORPORATION
</STRONG>
</FONT>
</CENTER>
</p>
<P style="margin-top: 0; margin-bottom: 0">

<CENTER>
<font size=2>
				(Exact name of registrant as specified in its charter)
</font>
</center>

<TABLE width="600" height="65">
<TR>
<TD width="753" height="65" align="center">
<p style="margin-top: 0; margin-bottom: 0" align="center"><b><font size=2>DELAWARE</font></b></p>
<p style="margin-top: 0; margin-bottom: 0" align="center"><font size=2>
(State or other jurisdiction of</font></p>
<p style="margin-top: 0; margin-bottom: 0" align="center"><font size=2>
incorporation or organization)</font>
</TD>
<CENTER>
<TD width="447" height="65 align=" center">
<p style="margin-top: 0; margin-bottom: 0" align="center"><b><font size=2>77-0100596</font></b>
</p>
<p style="margin-top: 0; margin-bottom: 0" align="center"><font size=2>
(I.R.S. Employer
</font>
</p>
<p style="margin-top: 0; margin-bottom: 0" align="center">
<font size=2>
Identification No.)
</font>
</p>
</TD>
</TR>
</TABLE>
</CENTER>

<p align=center style='text-align:center'><b><font size="2">245
  South Los Robles Avenue <br>
  Pasadena, California 91101-3638</font></b><font size="2"><br>
  (Address of principal executive offices) </font></p>
  <p align=center style='text-align: center; margin-top: 0; margin-bottom: 0'><b><font size="2">(626)&nbsp;683-4000
  <br>
  </font></b><font size="2">(Registrant's telephone number,
  including area code) </font></p>
  <p><font size="2">     &nbsp;&nbsp;&nbsp;&nbsp;Indicate by check
  mark whether the registrant (1) has filed all reports required to be
  filed by Section 13 or 15(d) of the Securities Exchange Act of 1934
  during the preceding 12 months (or for such shorter period that the
  registrant was required to file such reports), and (2) has been subject
  to such filing requirements for the past 90 days. Yes /x/  No / /</font>
 </p>

  <p><font size="2">     &nbsp;&nbsp; Indicate by check mark whether the
  registrant is an accelerated filer (as indicated in Rule 12b-2 of the Exchange
  Act).&nbsp; Yes/x/ No / /
 </p>

  <p>&nbsp;&nbsp;&nbsp; The number of
  shares outstanding of Common Stock, $2.50 par value, was&nbsp;8,429,971
  on August 29, 2004. No other class of Common Stock exists.</p>

  <p>&nbsp;</p>

  <p>&nbsp;</p>

  <p>&nbsp;</p>

  <p></font></p>

<p align="center">




<font size="2">1</font>

<p align="center">




&nbsp;&nbsp; <STRONG><CENTER>AMERON INTERNATIONAL CORPORATION
</CENTER>
</STRONG>
<p>
<STRONG>
<CENTER>
                                      INDEX
</CENTER>
</STRONG>
</p>
<P>


&nbsp;
<P>


&nbsp;


<P>

<CENTER>
<TABLE>
<TR>
<TD>
<PRE>                                                                     </PRE>
<PRE>                                                                      <u>Page</u>

PART I. FINANCIAL INFORMATION

  Item 1.   Consolidated Financial Statements

              Consolidated Statements of Income                        3

              Consolidated Balance Sheets                              4

              Consolidated Statements of Cash Flows                    5

              Notes to Consolidated Financial Statements               6

  Item 2.   Management's Discussion and Analysis
             of Financial Condition and Results
             of Operations                                            12

  Item 3.   Quantitative and Qualitative Market Risk Disclosure       18</PRE>
<PRE>  Item 4.   Controls and Procedures                                   18

PART II. OTHER INFORMATION</PRE>
<PRE>  Item 1.   Legal Proceedings                                         19

  Item 2.   Changes in Securities                                     19</PRE>
<PRE>  Item 5.   Other Information                                         20</PRE>
<PRE>  Item 6.   Exhibits and Reports on Form 8-K                          20


INDEX OF EXHIBITS                                                     21</PRE>
<PRE>SIGNATURE PAGE                                                        22</PRE>
<PRE>CERTIFICATIONS                                              	      23</PRE>
<PRE></PRE>
</TD>
</TR>
</TABLE>
</CENTER>


<P>

&nbsp;


<P>

&nbsp;


<P>

&nbsp;<P>

&nbsp;


<P>

&nbsp;


<P>

<CENTER>
                                     <font size="2"> 2</font>
</CENTER>


<p align="left">

<STRONG>
PART I. FINANCIAL INFORMATION
</STRONG>
<blockquote>
<P>

<STRONG>
     Item 1. Financial Statements
</STRONG>
</blockquote>
<P>

<Center>
<Strong>
<font size="2">
                Ameron International Corporation and Subsidiaries
<br>
                        Consolidated Statements of Income
<br>
                (In thousands, except share and per share data)
<BR>
                (Unaudited)
</font>
</strong>

</center>
<P>

<CENTER>

<TABLE width="362">
<TR>
<TD align="left" width="713" height="508">
<PRE><font size=1.5>

                                                             Three Months Ended                Nine Months Ended
                                                          -------------------------        -------------------------
                                                           August 29,    August 31,         August 29,    August 31,
                                                              2004          2003               2004          2003
                                                          -----------   -----------        -----------   -----------
Sales                                                     $   155,413   $   155,174        $   435,597   $   433,639
Cost of Sales                                                (117,168)     (112,730)          (330,827)     (318,213)
                                                          -----------   -----------        -----------   -----------
Gross Profit                                                   38,245        42,444            104,770       115,426

Selling, General and
 Administrative Expenses                                      (35,414)      (32,078)          (100,360)      (92,636)
Pension Plan Curtailment/Settlement                           (12,817)            -            (12,817)            -
Other Income, Net                                                 740         2,715              2,794         8,680
                                                          -----------   -----------        -----------   -----------
(Loss)/Income before Interest, Income Taxes
 and Equity in Earnings of Joint Venture                       (9,246)       13,081             (5,613)       31,470

Interest Expense, Net                                          (1,193)       (1,821)            (4,462)       (5,124)
                                                          -----------   -----------        -----------   -----------
(Loss)/Income before Income Taxes and Equity in
 Earnings of Joint Venture                                    (10,439)       11,260            (10,075)       26,346

Provision for Income Taxes                                     (2,921)       (3,779)            (3,041)       (8,717)
                                                          -----------   -----------        -----------   -----------
(Loss)/Income before Equity in Earnings of Joint Venture      (13,360)        7,481            (13,116)       17,629
Equity in Earnings of Joint Venture, Net of Taxes               4,585           230              8,461            82
                                                          -----------   -----------        -----------   -----------
Net (Loss)/Income                                         $    (8,775)  $     7,711        $    (4,655)  $    17,711
                                                          ===========   ===========        ===========   ===========
Net (Loss)/Income per Share (Basic)                       $     (1.05)  $       .97        $      (.56)  $      2.25
                                                          ===========   ===========        ===========   ===========
Net (Loss)/Income per Share (Diluted)                     $     (1.05)  $       .94        $      (.56)  $      2.19
                                                          ===========   ===========        ===========   ===========
Weighted-Average Shares (Basic)                             8,333,346     7,945,157          8,249,076     7,874,174
                                                          ===========   ===========        ===========   ===========
Weighted-Average Shares (Diluted)                           8,333,346     8,194,581          8,249,076     8,103,576
                                                          ===========   ===========        ===========   ===========
Cash Dividends per Share                                  $       .20   $       .20        $       .60   $       .56
                                                          ===========   ===========        ===========   ===========</font></PRE>
</TD>
</TR>
</TABLE>
</CENTER>


<P>


&nbsp;


<P>


<center>
See accompanying notes to consolidated financial statements.</center>&nbsp;



<P>

&nbsp;



<P>

&nbsp;



<P>

&nbsp;



<P>

&nbsp;



<P>

&nbsp;



<P>

<CENTER><font size="2">3</font>
</CENTER>


<p>
<Center><Strong><font size="2">Ameron International Corporation and Subsidiaries
<br>
                           Consolidated Balance Sheets
<BR>
                 (In thousands, except share and per share data)
</font>
</strong>

</center>

<p>
<Center>

<TABLE width="443">
<TR>
<TD align="left" width="435">
<PRE><font size=1.5>
                                                   August 29,     November 30,
                                                     2004            2003
                                                 ( Unaudited )
                                                  -----------     -----------
ASSETS
Current Assets
  Cash and Cash Equivalents                        $  25,908       $  20,390
  Receivables, Less Allowances of $7,463
    in 2004 and $8,168 in 2003                       141,431         155,629
  Inventories                                         86,577          91,371
  Deferred Income Taxes                               19,241          19,241
  Prepaid Expenses and Other Current Assets           10,632           8,882
                                                   ---------       ---------
    Total Current Assets                             283,789         295,513
Investments in Joint Ventures
  Equity Method                                       13,688          13,064
  Cost Method                                          5,479           5,479
Property, Plant and Equipment
  Land                                                37,916          37,787
  Buildings                                           84,580          84,426
  Machinery and Equipment                            286,190         283,123
  Construction in Progress                            10,846           6,169
                                                   ---------       ---------
    Total Property, Plant and Equipment at Cost      419,532         411,505
  Accumulated Depreciation                          (269,686)       (260,919)
                                                   ---------       ---------
    Total Property, Plant and Equipment, Net         149,846         150,586
Deferred Income Taxes                                  6,770           6,744
Intangible Assets, Net of Accumulated Amortization
  of $9,925 in 2004 and $9,738 in 2003                13,466          13,526
Other Assets                                          44,856          48,580
                                                   ---------       ---------
Total Assets                                       $ 517,894       $ 533,492
                                                   =========       =========
LIABILITIES AND STOCKHOLDERS' EQUITY
Current Liabilities
  Current Portion of Long-Term Debt                $   8,333       $   8,333
  Trade Payables                                      49,777          47,512
  Accrued Liabilities                                 55,331          53,091
  Income Taxes Payable                                 6,129           9,568
                                                   ---------       ---------
    Total Current Liabilities                        119,570         118,504
Long-Term Debt, Less Current Portion                  86,679          86,044
Other Long-Term Liabilities                           58,043          72,832
                                                   ---------       ---------
  Total Liabilities                                  264,292         277,380
                                                   ---------       ---------
Stockholders' Equity
  Common Stock, Par Value $2.50 a Share,
    Authorized 12,000,000 Shares, Outstanding
    8,429,971 Shares in 2004 and 8,214,563
    in 2003, Net of Treasury Shares                   27,742          27,186
  Additional Paid-In Capital                          21,437          16,443
  Unearned Restricted Stock                           (2,632)         (1,481)
  Retained Earnings                                  284,585         294,255
  Accumulated Other Comprehensive Loss               (28,756)        (31,768)
  Treasury Stock (2,666,670 Shares
    in 2004 and 2,659,810 in 2003)                   (48,774)        (48,523)
                                                   ---------       ---------
  Total Stockholders' Equity                         253,602         256,112
                                                   ---------       ---------
Total Liabilities and Stockholders' Equity         $ 517,894       $ 533,492
                                                   =========       =========
</PRE>
</font>
</TD>
</TR>
</TABLE>
</center>

<P>

&nbsp;

<P>

<Center>
See accompanying notes to consolidated financial statements.
</center>


<P>

&nbsp;<CENTER><font size="2">4</font>
</CENTER>


<p>
&nbsp;


<p>
&nbsp;


<p>
<Center>
<Strong>
<font size="2">
                Ameron International Corporation and Subsidiaries
<br>
                      Consolidated Statements of Cash Flows
<BR>
                           (In thousands)
<BR>
                (Unaudited)
</font>



</strong>
</center>

<p>




<p>



<CENTER>
<TABLE width="463">
<TR>
<TD width="455">
<PRE><font size="1.5">
                                                              Nine Months Ended
                                                           -----------------------
                                                          August 29,     August 31,
                                                             2004           2003
                                                           --------       --------
Cash Flows from Operating Activities
  Net (Loss)/Income                                        $ (4,655)      $ 17,711
  Adjustments to Reconcile Net (Loss)/Income to Net Cash
   Provided by Operating Activities:
     Depreciation                                            13,772         13,667
     Amortization                                               167            233
     Provision/(Benefit) for Deferred Income Taxes               46            (46)
     Net Earnings and Distributions from Joint Ventures          75            186
     Gain from Sale of Assets                                   (77)        (2,541)
     Stock Compensation Expense                               1,179            584
     Other                                                        -            371
  Changes in Operating Assets and Liabilities:
     Receivables                                             14,409        (11,200)
     Inventories                                              5,510          5,248
     Prepaid Expenses and Other Current Assets               (1,604)        (4,231)
     Other Assets                                             4,020         (3,341)
     Trade Payables                                           2,101         (5,617)
     Accrued Liabilities and Income Taxes Payable            (1,323)        10,407
     Other Long-Term Liabilities                            (13,589)         8,085
                                                           --------       --------
      Net Cash Provided by Operating Activities              20,031         29,516
                                                           --------       --------
Cash Flows from Investing Activities
  Proceeds from Sale of Assets                                  284          3,292
  Additions to Property, Plant and Equipment                (13,086)       (12,892)
                                                           --------       --------
      Net Cash Used in Investing Activities                 (12,802)        (9,600)
                                                           --------       --------
Cash Flows from Financing Activities
  Net Change in Short-Term Borrowings                             -         (1,497)
  Issuance of Debt                                              743         64,203
  Repayment of Debt                                             (88)       (70,123)
  Debt Issuance Costs                                          (473)        (1,659)
  Dividends on Common Stock                                  (5,015)        (4,464)
  Issuance of Common Stock                                    3,220          3,737
  Change in Treasury Stock                                     (251)           136
                                                           --------       --------
      Net Cash Used in Financing Activities                  (1,864)        (9,667)
                                                           --------       --------
Effect of Exchange Rate Changes
 on Cash and Cash Equivalents                                   153            445
                                                           --------       --------
Net Change in Cash and Cash Equivalents                       5,518         10,694
Cash and Cash Equivalents at Beginning of Period             20,390         10,360
                                                           --------       --------
Cash and Cash Equivalents at End of Period                 $ 25,908       $ 21,054
                                                           ========       ========
</font></PRE>
</TD>
</TR>
</TABLE>
</CENTER>

<P>
&nbsp;

<P>
<center>
See accompanying notes to consolidated financial statements.
</center>

<P>

&nbsp;

<P>

&nbsp;

<P>

&nbsp;

<P>

&nbsp;

<P>

&nbsp;

<P>

&nbsp;

<CENTER>
                                     <font size="2"> 5</font><p>&nbsp;<Strong><font size="2">Ameron International Corporation and Subsidiaries
<br>
                   Notes to Consolidated Financial Statements
<BR>
                (Dollars In Thousands Except Per Share Data)
<BR>
                (Unaudited) </p>
</CENTER>


</font>
</strong>
<p style="line-height: 100%">


<b><font size="2">Note&nbsp;1.&nbsp; Basis Of
  Presentation </font></b>
  <p style="line-height: 100%"><font size="2">Consolidated financial statements for the
  interim periods included herein are unaudited; however, they contain all
  adjustments, including normal recurring accruals, which in the opinion of
  management, are necessary to present fairly the consolidated financial
  position of Ameron International Corporation and all wholly-owned subsidiaries
  (the &quot;Company&quot; or
  &quot;Ameron&quot; or the &quot;Registrant&quot;) at August 29, 2004, and consolidated results of
  operations and cash flows for the three and nine months ended August 29, 2004 and
  August 31, 2003.
  Accounting measurements at interim dates inherently involve greater reliance
  on estimates than at year-end. Results of operations for the periods
  presented are not necessarily indicative of the results to be expected for
  the full year. </font></p>
  <p style="line-height: 100%"><font size="2">For accounting consistency, the
  quarter ends on the Sunday closest to the end of the relevant calendar month.&nbsp; Ameron's fiscal year ends on November 30, regardless of the day of the week.&nbsp;
  Each quarter consists of approximately 13 weeks, but the number of days per
  quarter can change from period to period</font></p>
  <p style="line-height: 100%"><font size="2">The consolidated financial statements do
  not include certain footnote disclosures and financial information normally
  included in consolidated financial statements prepared in accordance with
  accounting principles generally accepted in the United States of America and,
  therefore, should be read in conjunction with the consolidated financial
  statements and notes included in Ameron's Annual Report on Form&nbsp;10-K for
  the year ended November&nbsp;30, 2003 (&quot;2003 Annual Report&quot;). </font></p>
  <p style="line-height: 100%"><font size="2">Certain prior period balances have
  been reclassified to conform with the current period presentation.</font></p>
  <p style="line-height: 100%"><b><font size="2">Note 2.&nbsp; New Accounting Pronouncements</font></b></p>
<p style="line-height: 100%"><font size="2">In December 2003, the Financial
Accounting Standards Board (&quot;FASB&quot;) issued a revision to Statement of
Financial Accounting Standards (&quot;SFAS&quot;) No. 132, &quot;Employers' Disclosures about Pensions and Other
Postretirement Benefits.&quot;&nbsp; The revision to SFAS No. 132 requires additional disclosures
relating to the description of the types of plan assets, investment strategy,
measurement date(s), plan obligations, cash flows, and components of net
periodic benefit cost of defined benefit pension plans and other defined benefit
postretirement plans recognized during interim periods.&nbsp; These disclosure
requirements are effective for the Company.&nbsp; Disclosures
required under SFAS No. 132 are included in Note 14, herein.&nbsp; </font></p>
<p style="line-height: 100%"><font size="2">In January 2004, the FASB issued
a FASB Staff Position (&quot;FSP&quot;) regarding SFAS No. 106, &quot;Employers'
Accounting for Postretirement Benefits Other Than Pensions.&quot;&nbsp; FSP 106-1,
&quot;Accounting and Disclosure Requirements Related to the Medicare Prescription
Drug, Improvement and Modernization Act of 2003&quot; discusses the effect of the
Medicare Prescription Drug, Improvement and Modernization Act (&quot;the Act&quot;)
enacted on December 8, 2003.&nbsp; FSP 106-1 considers the effect of the two new
features introduced in the Act in determining accumulated postretirement
benefit obligation (&quot;APBO&quot;) and net periodic postretirement benefit cost,
which may serve to reduce a company's post-retirement benefit costs.&nbsp; Companies
may elect to defer accounting for this benefit or may attempt to reflect the
best estimate of the impact of the Act on net periodic costs currently.&nbsp;
The Company has chosen to defer accounting for the benefit until the FASB issues
final accounting guidance due to various uncertainties related to this
legislation and the appropriate accounting.&nbsp; The Company's measures of APBO and net
periodic postretirement benefit costs as of and for the quarter ended August 29, 2004 do not reflect the effect of the Act.</font></p>
<p style="line-height: 100%"><font size="2">On May&nbsp;19, 2004, the FASB issued an
FSP regarding SFAS No.&nbsp;106. FSP 106-2, &quot;Accounting and Disclosure Requirements Related
to the Medicare Prescription Drug, Improvement and Modernization Act of 2003&quot;
discusses the effect of the Act.&nbsp; FSP 106-2 considers
the effect of the two new features introduced in the Act in determining

APBO and net periodic
postretirement benefit cost, which may serve to reduce a company's
post-retirement benefit costs. The adoption of FSP 106-2 is required in the Company's fourth
quarter of 2004 and is not expected to have a material impact on the
Company's financial position or results of operations.</font></p>
<p style="line-height: 100%"><font face="TIMES NEW ROMAN" size="2">In December
2003, the FASB issued FASB Interpretation (&quot;FIN&quot;) No. 46-R, &quot;Consolidation of
Variable Interest Entities,&quot; to replace FIN No. 46.&nbsp; FIN No. 46-R addresses
the consolidation of business enterprises (&quot;variable interest entities&quot;) to
which the usual condition (ownership of a majority voting interest) of
consolidation does not apply.&nbsp; FIN No. 46-R focuses on financial interests
that indicate control. It concludes that in the absence of clear control through
voting interests or sufficient equity, a company's exposure (&quot;variable
interest&quot;) to the economic risks and potential rewards from the variable
interest entity's assets and activities are the best evidence of control.
Variable interests are rights and obligations that convey economic gains or
losses from changes in the values of the variable interest entity's assets and
liabilities. Variable interests may arise from financial instruments, service
contracts, nonvoting ownership interests and other arrangements. If an
enterprise holds a </font></p>
<p style="line-height: 100%" align="center"><font size="2">6</font></p>
<p style="line-height: 100%"><font face="TIMES NEW ROMAN" size="2">majority of
the variable interests of an entity, it would be considered the primary
beneficiary. The primary beneficiary is required to consolidate the assets,
liabilities and the results of operations of the variable interest entity in its
financial statements.&nbsp; The adoption of FIN No. 46-R did not have a material
impact on the Company's consolidated financial statements.</font></p>
<p style="line-height: 100%">&nbsp;<b><font size="2">Note 3.&nbsp;&nbsp;Inventories</font></b></p>
<p style="line-height: 100%"><font size="2">Inventories are stated at the lower of cost or market.&nbsp;
  Inventories
  consisted of
  the following: </font></p>

<CENTER>
<TABLE width="436" height="64" style="border-collapse: collapse" bordercolor="#111111" cellpadding="0" cellspacing="0">
<TR>
<TD width="428" height="30">
<PRE style="line-height: 100%"><font size=1.5>                                                              August 29,    November 30,
                                                                2004           2003
                                                              ---------      ---------
Finished Products                                             $  48,450      $  52,821
Materials and Supplies                                           22,982         22,037
Products in Process                                              15,145         16,513
                                                              ---------      ---------
                                                              $  86,577      $  91,371
                                                              =========      =========</font></PRE>
</TD>
</TR>
</TABLE>
</CENTER>



<p style="line-height: 100%">

&nbsp;

<STRONG>
<font size=2>
Note 4.&nbsp; Supplemental Disclosure of Cash Flow Information
</font>

</STRONG>



<CENTER>
<TABLE width="436" height="97">
<TR>
<TD width="430" height="93">
<PRE style="line-height: 100%"><font size=1.5>                                                                Nine Months Ended
                                                             ------------------------
                                                             August 29,     August 31,
                                                               2004           2003
                                                             ---------      ---------
Interest Paid                                                $   4,273      $   3,497

Income Taxes Paid                                            $   6,130      $   5,737</font></PRE>
</TD>
</TR>
</TABLE>
</CENTER>


<P style="line-height: 100%"><strong><font size="2">Note 5.&nbsp;&nbsp;Joint Ventures
</font>

</strong>
<font size="2">
<p style="line-height: 100%">
                     Operating results of TAMCO, an investment which is accounted for under the equity
                     method, were as follows:&nbsp;
<CENTER>
<TABLE width="436">
<TR>
<TD width="428">
<PRE style="line-height: 100%"><font size=1.5>                                  </font></font><font size="2"><font size=1.5>    Three Months Ended           Nine Months Ended
                                   ------------------------     ------------------------
                                   August 29,     August 31,    August 29,     August 31,
                                     2004           2003          2004           2003
                                   ---------      ---------     ---------      ---------
Net Sales                          $  70,960      $  45,830     $ 178,947      $ 119,912

Gross Profit                       $  18,798      $   2,475     $  36,459      $   5,087

Net Income                         $  10,113      $     501     $  18,580      $     179</font></PRE>
</font>
</TD>
</TR>
</TABLE>

</CENTER>

<P style="line-height: 100%"><font size="2">Investments in Ameron Saudi Arabia,
Ltd. (&quot;ASAL&quot;), Bondstrand, Ltd. (&quot;BL&quot;) and
  Oasis-Ameron, Ltd. (&quot;OAL&quot;) are accounted for under the cost method due to management's
current assessment of the Company's influence over these joint ventures.</font>

<P style="line-height: 100%"><font size="2">Earnings and dividends from the
Company's&nbsp; joint ventures were as follows:</font>&nbsp;
<CENTER>
<TABLE width="436">
<TR>
<TD width="428">
<PRE style="line-height: 100%"><font size=1.5>                                               Three Months Ended          Nine Months Ended
                                            ------------------------    ------------------------
                                            August 29,     August 31,   August 29,     August 31,
                                              2004           2003         2004           2003
                                            ---------      ---------    ---------      ---------

Equity in Earnings of Joint Venture
   TAMCO                                    $   5,057      $     250    $   9,330      $      89


Dividends Received from Joint Ventures
   TAMCO                                    $   5,335      $       -    $   9,405      $     275
   ASAL                                             -              -            -          2,633
   BL                                               -            397            -          2,635
   OAL                                              -              1           97             98
   Amercoat Mexicana                              N/A            312          N/A            312</font></PRE>
</TD>
</TR>
</TABLE>
</CENTER>
<P style="line-height: 100%"><font size="2">Earnings from ASAL, BL, OAL, and
Amercoat Mexicana are included in other income.&nbsp; The Company sold its
interest in Amercoat Mexicana in August 2003 for a pretax gain of $2,477.</font>

  <P style="line-height: 100%">&nbsp;<p align="center">7</p>

  <p style="line-height: 100%"><b><font size="2">Note 6.&nbsp;&nbsp;Net Income Per
  Share </font></b></p>


<p style="line-height: 100%"><font size="2">Basic net income per share is computed on
  the basis of the weighted-average number of common shares outstanding during
  the periods presented. Diluted net income per share is computed on the basis of the weighted-average number of common shares outstanding plus the effect of
  outstanding restricted stock and stock options, using
  the treasury stock method.&nbsp; For the three months ended August 29, 2004,
options to purchase 45,000 common shares were anti-dilutive, while options to
purchase 21,000 common shares were anti-dilutive for the nine months ended
August
29, 2004.&nbsp; For the three and nine months ended August 31, 2003, options to purchase
21,000 commons shares were anti-dilutive.&nbsp;
Following is a reconciliation of the
  weighted-average number of shares used in the computation of basic and
  diluted net income per share:</font>


<CENTER>
<TABLE width="513">
<TR>
<TD width="505">
<PRE style="line-height: 100%"><font size=1.5>                                             Three Months Ended             Nine Months Ended
                                          ------------------------      ------------------------
                                          August 29,     August 31,     August 29,     August 31,
                                            2004           2003           2004           2003
                                          ---------      ---------      ---------      ---------
   Basic Average Common
      Shares Outstanding                  8,333,346      7,945,157      8,249,076      7,874,174

   Dilutive Effect of
      Common Stock Equivalents                    -        249,424              -        229,402
                                          ---------      ---------      ---------      ---------
   Diluted Average Common
      Shares Outstanding                  8,333,346      8,194,581      8,249,076      8,103,576
                                          =========      =========      =========      =========</font></PRE>
</TD>
</TR>
</TABLE>
</CENTER>


<p style="line-height: 100%">

<font size="2">The Company declared a two-for-one stock split in the form of a
stock dividend, payable May 27, 2003.&nbsp; The share and per share information
herein is reflected on a post-split basis.</font>
</p>


<p style="line-height: 100%">

<STRONG>
<font size=2>
Note 7. Comprehensive Income
</font>
</STRONG>
</p>
<font size=2>
<P style="line-height: 100%">

Comprehensive income was as follows:
</font>

<CENTER>
<TABLE width="513" height="166">
<TR>
<TD width="505" height="162">
<PRE style="line-height: 100%"><font size="1">                                                   Three Months Ended            Nine Months Ended
                                                ------------------------     ------------------------
                                                August 29,     August 31,    August 29,     August 31,
                                                  2004           2003          2004           2003
                                                ---------      ---------     ---------      ---------

  Net (Loss)/Income                             $  (8,775)     $   7,711     $  (4,655)     $  17,711
  Foreign Currency Translation
    Adjustment                                       (870)        (2,494)        1,043          7,045
  Comprehensive (Loss)/Income from Joint Venture      (96)          (246)          700            931
  Adjustment to Minimum Pension Liabilities         1,269              -         1,269              -
                                                ---------      ---------     ---------      ---------
  Comprehensive (Loss)/Income                   $  (8,472)     $   4,971     $  (1,643)     $  25,687
                                                =========      =========     =========      =========</font></PRE>
</TD>
</TR>
</TABLE>
</CENTER>

<P style="line-height: 100%">
  <b><font size="2">Note 8.&nbsp;&nbsp;Debt </font></b></p>
  <p style="line-height: 100%"><font size="2">The Company's long-term debt consisted of
  the following: </font>

<CENTER>
<TABLE width="516" height="234">
<TR>
<TD width="508" height="230">
<PRE style="line-height: 100%"><font size=1.5>                                                                        August 29,    November 30,
                                                                          2004           2003
                                                                        ---------      ---------
Fixed-rate notes payable, bearing
  interest at 7.92%, in annual principal
  installments of $8,333                                                $  25,000      $  25,000
Fixed-rate notes payable, bearing
  interest at 5.36%, in annual principal
  installments of $10,000 beginning in 2005                                50,000         50,000
Variable-rate industrial development bonds,
  payable in 2016 (1.45% at August 29, 2004)                                7,200          7,200
Variable-rate industrial development bonds,
  payable in 2021 (1.45% at August 29, 2004)                                8,500          8,500
Variable-rate bank revolving credit
  facilities, payable in 2008 (4.06% at August 29, 2004)                    4,312          3,677
                                                                        ---------      ---------
Total long-term debt                                                       95,012         94,377

  Less current portion                                                     (8,333)        (8,333)
                                                                        ---------      ---------
Long-term debt, less current portion                                    $  86,679      $  86,044
                                                                        =========      =========</PRE>
</font>
</TD>
</TR>
</TABLE>
</CENTER>

<p align="center" style="line-height: 100%">8</p>

<p align="left" style="line-height: 100%">The Company maintains a $100,000 revolving credit facility with six banks (the &quot;Revolver&quot;).&nbsp;
The Revolver was extended on consistent terms in June 2004.&nbsp; Under the Revolver, the Company may, at its option,
borrow at floating interest rates based on specified margins over money market
rates, at any time until June 2008, when all borrowings under the Revolver
must be repaid.&nbsp; The lending agreements contain various
restrictive covenants, including the requirement to maintain specified amounts
of net worth and restrictions on cash dividends, borrowings, liens, investments
and guarantees.&nbsp; The Revolver, the&nbsp;<font size="2">5.36% term notes and the 7.92% term
notes </font><font size="2"> are collateralized by substantially all of the Company's assets.&nbsp;
</font><font size="2">The
industrial revenue bonds are supported by standby letters of credit&nbsp; that are
issued under the Revolver.&nbsp; Certain note agreements contain provisions
regarding the Company's</font>&nbsp;<font size="2"> ability to grant security
interests or liens in association with other debt instruments.&nbsp; </font></p>

<p align="left" style="line-height: 100%">If the Company grants such a security
interest or lien, then such notes will be collateralized equally and ratably as
long as such other debt shall be collateralized.</p>

<p align="left" style="line-height: 100%"><b><font size="2">Note 9.&nbsp;&nbsp;Segment
  Information </font></b></p>

<p style="line-height: 100%"><font size="2">The Company provides certain information
  about operating segments in accordance with SFAS No. 131,
  &quot;Disclosure about Segments of an Enterprise and Related
  Information.&quot; In accordance with SFAS No. 131, the Company has
  determined that it</font> <font size="2">has four reportable segments: Performance
  Coatings&nbsp;&amp; Finishes, Fiberglass-Composite Pipe, Water
  Transmission, and Infrastructure Products. Each of these segments
  has a dedicated management team and is managed separately, primarily because
  of differences in products. The
Company allocates certain selling, general and administrative expenses to
the segments utilizing assumptions believed to be appropriate in the
circumstances.&nbsp; Following is information related to each reportable segment included in, and in a manner consistent
  with, internal management reports:</font>

<CENTER>
<TABLE width="594">
<TR>
<TD width="586">
<PRE style="line-height: 100%"><font size="1.5">                                                             Three Months Ended           Nine Months Ended
                                                          ------------------------    ------------------------
                                                          August 29,     August 31,   August 29,     August 31,
                                                            2004           2003         2004           2003
                                                          ---------      ---------    ---------      ---------

Sales
 Performance Coatings &amp; Finishes                          $  51,956      $  49,993    $ 149,578      $ 140,029
 Fiberglass-Composite Pipe                                   30,017         30,588       88,893         85,519
 Water Transmission                                          35,443         40,984      100,763        112,005
 Infrastructure Products                                     38,140         33,821       96,839         96,948
 Eliminations                                                  (143)          (212)        (476)          (862)
                                                          ---------      ---------    ---------      ---------
  Total Sales                                             $ 155,413      $ 155,174    $ 435,597      $ 433,639
                                                          =========      =========    =========      =========

(Loss)/Income Before Interest
   and Income Taxes
 Performance Coatings &amp; Finishes                          $   1,918      $   2,572    $   2,027      $   6,082
 Fiberglass-Composite Pipe                                    5,400          5,124       15,573         16,217
 Water Transmission                                           2,614          3,806        5,116         12,608
 Infrastructure Products                                      4,865          4,280        8,977         10,857
 Corporate &amp; Unallocated                                    (24,043)        (2,701)     (37,306)       (14,294)
                                                          ---------      ---------    ---------      ---------
  Total (Loss)/Income Before Interest
     and Income Taxes                                     $  (9,246)     $  13,081    $  (5,613)     $  31,470
                                                          =========      =========    =========      =========     </font></PRE>

</TD>
</TR>
</TABLE>

</CENTER>

<CENTER>
<TABLE width="594">
<TR>
<TD width="586">
<PRE style="line-height: 100%"><font size="1.5">                                                                                      August 29,    November 30,
                                                                                        2004           2003
                                                                                      ---------      ---------
Assets
 Performance Coatings &amp; Finishes                                                      $ 163,995      $ 164,399
 Fiberglass-Composite Pipe                                                              154,652        147,326
 Water Transmission                                                                     102,176        125,501
 Infrastructure Products                                                                 75,166         70,202
 Corporate &amp; Unallocated                                                                194,016        184,839
 Eliminations                                                                          (172,111)      (158,775)
                                                                                      ---------      ---------
  Total Assets                                                                        $ 517,894      $ 533,492
                                                                                      =========      =========</font></PRE>
</TD>
</TR>
</TABLE>
</CENTER>

  <p style="line-height: 100%">&nbsp;<b><font size="2">Note 10.&nbsp;&nbsp;Commitments
  &amp; Contingencies </font></b></p>

<p align=left><font style="FONT-SIZE: 10pt" face="Times New Roman" size="2">The
Company is one of numerous defendants in various asbestos-related personal
injury lawsuits.&nbsp; These cases generally seek unspecified damages for
asbestos-related diseases based on alleged exposure to products previously
manufactured by the Company and others, and at this time the Company is
generally not aware of the extent of injuries allegedly suffered by the
individuals or the facts supporting the claim that injuries were caused by the
Company's products.&nbsp; Based upon the information available to it at this
time, the Company is not in a position to evaluate its potential exposure, if
any, as a result of such claims.&nbsp; Hence, no amounts have been accrued for
loss contingencies related to these lawsuits in accordance with SFAS No. 5,
&quot;Accounting for Contingencies.&quot;&nbsp; The Company continues to vigorously
defend all such lawsuits.&nbsp; As of August 29, 2004, the Company was a
defendant in asbestos-related cases involving&nbsp;18,963 claimants, compared to
18,998 claimants as of May 31, 2004.&nbsp; The
Company is not in a position to estimate the number of additional claims that
may be filed against it in the future.&nbsp; For the  </font>

<p align=center>9

<p align=left><font style="FONT-SIZE: 10pt" face="Times New Roman" size="2">quarter ended August 29,
2004, there were new claims involving&nbsp;two claimants, dismissals and/or settlements involving&nbsp;37
claimants and no judgments.&nbsp; Net costs and expenses
incurred by the Company for the quarter ended August 29, 2004 in connection
with asbestos-related claims were approximately $164.</font>&nbsp;

<p><font style="FONT-SIZE: 10pt" face="Times New Roman" size="2">The
Company is one of numerous defendants in various silica-related personal injury
lawsuits.&nbsp; These cases generally seek unspecified damages for
silica-related diseases based on alleged exposure to products previously
manufactured by the Company and others, and at this time the Company is not
aware of the extent of injuries allegedly suffered by the individuals or the
facts supporting the claim that injuries were&nbsp;caused by the Company's
products.&nbsp; Based upon the information available to it at this time, the
Company is not in a position to evaluate its potential exposure, if any, as a
result of such claims.&nbsp;&nbsp;Hence, no amounts have been accrued for loss
contingencies related to these lawsuits in accordance with&nbsp; SFAS No. 5.&nbsp;
The
Company continues to vigorously defend all such lawsuits.&nbsp; As of August 29, 2004,&nbsp;
the Company</font>

<font style="FONT-SIZE: 10pt" face="Times New Roman" size="2">was a defendant in silica-related cases involving&nbsp;7,760
claimants, compared to 7,776 claimants as of May 31, 2004.&nbsp; The
Company is not in a position to estimate the number of additional claims that
may be filed against it in the future.&nbsp; For the quarter ended August 29,
2004, there were new claims involving&nbsp;203 claimants, dismissals and/or settlements involving&nbsp;219 claimants and no judgments.&nbsp; Net costs and expenses incurred by the Company&nbsp;
for the quarter ended August 29, 2004 in connection with silica-related claims
were approximately $121.</font><p>In April 2003 the Company was served with a
complaint in an action brought by J. Ray McDermott, Inc., J. Ray McDermott, S.A.
and SparTEC, Inc. in the District Court of Harris County, Texas against the
Company and two co-defendants, in connection with certain coatings supplied by
defendants in 2002 for an offshore production facility known as a SPAR.
Plaintiffs allege that the Company's co-defendants improperly supplied coatings
which contained lead and/or lead chromate, and that as a result the Company and
its co-defendants are liable to plaintiffs for all costs associated with removal
and replacement of those coatings. Plaintiffs' petition alleged a claim for
damages in an unspecified amount. The matter is in active discovery. Plaintiffs'
economic expert estimates plaintiffs' damages at approximately $21,000. The
Company believes that it has meritorious defenses to this action.&nbsp; <font style="FONT-SIZE: 10pt" face="Times New Roman" size="2">
Based upon the information available to it at this time, the Company is not in a
position to evaluate the ultimate outcome of this matter.</font></p>

<p>In
addition, certain other claims, suits and complaints that arise in the ordinary
course of business, have been filed or are pending against the Company.
Management believes that these matters are either adequately reserved, covered
by insurance, or would not have a material effect on the Company's financial
position or its results of operations if disposed of unfavorably.&nbsp;</p>
<p>The
Company is subject to federal, state and local laws and regulations concerning
the environment and is currently participating in administrative proceedings at
several sites under these laws. While the Company finds it difficult to estimate
with any certainty the total cost of remediation at the several sites, on the
basis of currently available information and reserves provided, the Company
believes that the outcome of such environmental regulatory proceedings will not
have a material effect on the Company's financial position or its results of
operations.</p>
<p align=left style="line-height: 100%"><b>Note 11.&nbsp;&nbsp;Product Warranties
and Guarantees</b></p>
<p align=left style="line-height: 100%"><font size="2">The Company's product warranty accrual reflects management's&nbsp;estimate of probable liability
associated with product warranties.&nbsp; Management establishes product warranty
accruals based on
historical experience and other currently available information.</font></p>
<p align=left style="line-height: 100%"><font size="2">Changes in the product warranty accrual for the
nine months ended August 29, 2004 were as follows:&nbsp;</font></p>
<CENTER>
<TABLE width="450">
<TR>
<TD width="442">
<PRE style="line-height: 100%"><font size="1.5">Balance, Beginning of Period </font><font size="2"><font size=1.5>                                            $   3,770
Payments                                                                    (2,068)
Change in Liability for Warranties Issued During the Period                  2,538
                                                                         ---------
Balance, End of Period                                                   $   4,240
                                                                         =========</font></PRE>
</font>
</TD>
</TR>
</TABLE>
</CENTER>

<p align=left style="line-height: 100%"><font size="2"><b>Note 12.&nbsp;&nbsp;Goodwill and Other Intangible
Assets</b></font></p>
<p align=left style="line-height: 100%">The annual goodwill and intangible asset impairment tests were completed during the quarter ended
February 29, 2004.&nbsp; No impairment losses were identified as a result of
these tests.&nbsp; Changes in the
Company's carrying amount of goodwill by business segment were as follows:&nbsp;</p>
<center>
<TABLE width="450">
<TR>
<TD width="442">
<PRE style="line-height: 100%; margin-top: 0; margin-bottom: 0"><font size="1.5">                                                               Foreign Currency
                                                                    Translation
Segment                                    November 30, 2003        Adjustments      </font><font size="2"><font size="1.5">August 29, 2004
-------------------------------------     ------------------     --------------     ----------------
Performance Coatings &amp; Finishes                   $   11,473         $       61           $   11,534
Fiberglass-Composite Pipe                              1,440                  -                1,440
Infrastructure Products                                  201                  -                  201
                                                   ---------          ---------            ---------
Total                                             $   13,114         $       61           $   13,175</font></pre>
<PRE style="line-height: 100%; margin-top: 0; margin-bottom: 0"><font size="1.5">                                                   =========          =========            =========</font></pre>
</font>
</TD>
</TR>
</TABLE>
</center>
<font size="2"><br>The Company's intangible assets,
other than goodwill, and
related accumulated amortization consisted of the following:</font><p align="center">10</p>
</p>
<center>
<TABLE width="450" height="58">
<TR>
<TD width="442" height="54">
<PRE style="line-height: 100%; margin-top: 0; margin-bottom: 0"><font size=1.5>                                                 August 29, 2004                         November 30, 2003
                                       ----------------------------------     -----------------------------------
                                      Gross Intangible        Accumulated    Gross Intangible         Accumulated
                                                Assets       Amortization              Assets        Amortization
                                       ---------------     --------------     ---------------      --------------
Trademarks                                   $   2,144          $  (2,035)          $   2,076           $  (1,975)
Non-Compete Agreements                           2,105             (1,923)              2,105              (1,794)
Patents                                            212               (212)                212                (212)
Leasehold Interests                              1,930             (1,930)              1,930              (1,930)
                                              --------          ---------            --------           ---------
Total                                        $   6,391          $  (6,100)          $   6,323           $  (5,911)</font></pre>
<PRE style="line-height: 100%; margin-top: 0; margin-bottom: 0"><font size="1.5">                                               ========          =========            ========           =========</font></pre>
</TD>
</TR>
</TABLE>
<p align=left style="line-height: 100%">All of the Company's intangible assets,
other than goodwill, are subject to amortization.&nbsp;
Amortization expense for the three and nine months ended August 29, 2004 was $52 and
$167, respectively.&nbsp; Amortization expense for the three and nine months
ended August 31, 2003 was $93&nbsp;and $233, respectively.&nbsp; At August 29, 2004, estimated future amortization expense was as follows:&nbsp;
$53&nbsp;for the
remaining three months of 2004, $183&nbsp;for 2005, $43 for 2006, $12 for 2007.</p>
<p align=left style="line-height: 100%"><font size="2"><b>Note 13.&nbsp;&nbsp;Incentive Stock Compensation
Plans</b></font></p>
<p align=left style="line-height: 100%"><font size="2">The Company applies Accounting Principles Board
Opinion No. 25, &quot;Accounting for Stock Issued to Employees,&quot; and
related interpretations in accounting for its various stock option plans.&nbsp;
The Company has adopted the disclosure-only provisions of SFAS No. 123,
&quot;Accounting for Stock-Based Compensation,&quot; and SFAS No. 148,
&quot;Accounting for Stock-Based Compensation - Transition and Disclosure,&quot;
which was released in December 2002 as an amendment to SFAS No. 123.&nbsp; The
following table illustrates the effect on net income and earnings per share as
if the Company had applied the fair value recognition provisions of SFAS No. 123:</font>&nbsp;</p>
<TABLE width="450" height="270" cellspacing="0">
<TR>
<TD width="442" height="263">
<PRE style="line-height: 100%; margin-top: 0; margin-bottom: 0"><font size="1">                                                                 Three Months Ended          Nine Months Ended
                                                             ------------------------    ------------------------
                                                             August 29,     August 31,   August 29,     August 31,
                                                               2004           2003         2004           2003
                                                             ---------      ---------    ---------      ---------
Reported Net (Loss)/Income                                   $  (8,775)     $   7,711     $ (4,655)     $  17,711
(Deduct)/Add:  Stock-based employee compensation (benefit)/
  expense included in reported net income, net of tax              539            (62)         787            391
Deduct:  Stock-based employee compensation
  expense determined under SFAS No. 123,
  net of tax                                                      (244)          (210)        (657)          (613)
                                                             ---------      ---------    ---------      ---------
Pro Forma Net Income                                         $  (8,480) </font><font size="1">    $   7,439    $  (4,525)</font><font size="1">     $  17,489
                                                             =========      =========    =========      =========
Basic Net (Loss)/Income Per Share:
  As Reported                                                $   (1.05)     $     .97    $    (.56)     $    2.25
  Pro Forma                                                  $   </font><font size="2"><font size="1">(1.02)</font></font><font size="1">     $     .94    $    (.55)</font><font size="1">     $    2.22

Diluted Net (Loss)/Income Per Share:
  As Reported                                                $   </font><font size="2"><font size="1">(1.05)</font></font><font size="1">     $     .94    $    (.56)     $    2.19
  Pro Forma                                                  $   </font><font size="1">(1.02)</font><font size="1">     $     .91    $    (.55)     $    2.16</font></pre>
</TD>
</TR>
</TABLE>
</CENTER>
<p align=left style="line-height: 100%"><font size="2"><b>Note 14.&nbsp;&nbsp;Employee
Benefit Plans</b></font></p>
<p align=left style="line-height: 100%">In June 2004, the Company terminated two executive benefit plans in consideration of
ongoing costs, anticipated legislative restrictions on such programs, and a
preference for executive benefit plans having more predictable costs.&nbsp;
During the quarter ended August 29, 2004, the Company
incurred a pretax expense of $12,817 due to the termination of the
plans and
distributions to plan participants.&nbsp; The Company recorded this expense in
accordance with SFAS No. 88, &quot;Employers' Accounting for Settlements and
Curtailments of Defined Benefit Pension Plans and for Termination Benefits.&quot;
SFAS No. 88 requires settlement accounting if the cost of all settlements,
including lump-sum retirement benefits paid, in a year exceeds, or is expected
to exceed, the total of the service and interest cost components of pension
expense for the same period.&nbsp;  </p>
<p align=left style="line-height: 100%">Ameron previously purchased life
insurance policies to cover benefits under the plans.&nbsp; The cash surrender
values of these policies (totaling approximately $26,900 as of August 29, 2004) exceed the amount of
lump-sum payments (totaling approximately $25,600) required to settle all plan obligations.&nbsp; Ameron charged approximately $2,100 under the plans in
fiscal 2003.&nbsp; For the three and nine
months ended August 29, 2004 and August 31, 2003,
net
pension and postretirement costs consisted of the following:</p>
<p align=left style="line-height: 100%">&nbsp;</p>
<p align=left style="line-height: 100%">&nbsp;</p>
<p align=left style="line-height: 100%">&nbsp;</p>
<p align=center style="line-height: 100%">11</p>
<p align=left style="line-height: 100%">&nbsp;</p>
<center>
<TABLE width="493" height="270" cellspacing="0">
<TR>
<TD width="485" height="263" align="left">
<PRE style="line-height: 100%; margin-top: 0; margin-bottom: 0"><font size=1.5>                                                                                                        U.S. Postretirement </font></pre>
<PRE style="line-height: 100%; margin-top: 0; margin-bottom: 0"><font size="1.5">                                                                     Pension Benefits                       Health Care
                                                        -------------------------------------------     --------------------
                                                             U.S. Plans            Non U.S. Plans                  </font></pre>
<PRE style="line-height: 100%; margin-top: 0; margin-bottom: 0"><font size="1.5">                                                        --------------------    -------------------
                                                                              Three Months Ended</font></pre>
<PRE style="line-height: 100%; margin-top: 0; margin-bottom: 0"><font size="1.5">                                                        --------------------------------------------------------------------</font></pre>
<PRE style="line-height: 100%; margin-top: 0; margin-bottom: 0"><font size="1">                                                       August 29,  August 31,  August 29,  August 31,  August 29,  August 31,</font></pre>
<PRE style="line-height: 100%; margin-top: 0; margin-bottom: 0"><font size="1.5">                                                          2004        2003        2004        2003        2004        2003</font></pre>
<PRE style="line-height: 100%; margin-top: 0; margin-bottom: 0"><font size="1.5">                                                        --------    --------    --------    --------    --------    --------
Service cost                                            $    726    $    713    $    202    $    193    $     28    $     26
Interest cost                                              2,553       2,662         297         313          50          48
Expected return on plan assets                            (2,629)     (2,380)       (224)       (292)         (8)         (8)</font></pre>
<PRE style="line-height: 100%; margin-top: 0; margin-bottom: 0"><font size="1.5">Amortization of unrecognized </font></pre>
<PRE style="line-height: 100%; margin-top: 0; margin-bottom: 0"><font size="1.5">   prior service cost                                         90         231         106         145          (4)         (4)
Amortization of unrecognized  </font></pre>
<PRE style="line-height: 100%; margin-top: 0; margin-bottom: 0"><font size="1.5">   net transition obligation                                   -           -           -           -          18          18</font></pre>
<PRE style="line-height: 100%; margin-top: 0; margin-bottom: 0"><font size="1.5">Amortization of accumulated loss                           1,057       1,345           -           -          12           5
Settlement Charge                                         10,901           -           -           -           -           -
Curtailment Loss                                           1,916           -           -           -           -           -</font></pre>
<PRE style="line-height: 100%; margin-top: 0; margin-bottom: 0"><font size="1.5">                                                        --------    --------    --------    --------    --------    --------
Net periodic cost                                       $ 14,614    $  2,571    $    381    $    359    $     96    $     85
                                                        ========    ========    ========    ========    ========    ========</font></pre>
<PRE style="line-height: 100%; margin-top: 0; margin-bottom: 0"><font size=1.5></font></TD>
</TR>
</TABLE>

</CENTER>
<br>
<CENTER>
<TABLE width="493" height="233" cellspacing="0"><TR>
<TD width="485" height="226" align="left"><PRE style="line-height: 100%"><font size="1.5">
                                                         </font></pre>
<font size="2"><PRE style="line-height: 100%; margin-top: 0; margin-bottom: 0"><font size="1.5">                                                                                Nine Months Ended</font></pre>
<PRE style="line-height: 100%; margin-top: 0; margin-bottom: 0"><font size="1.5">                                                        --------------------------------------------------------------------</font></pre>
</font><PRE style="line-height: 100%; margin-top: 0; margin-bottom: 0"><font size="1">                                                       August 29,  August 31,  August 29,  August 31,  August 29,  August 31,</font></pre>
<PRE style="line-height: 100%; margin-top: 0; margin-bottom: 0"><font size="1.5">                                                          2004        2003        2004        2003        2004        2003</font></pre>
<PRE style="line-height: 100%; margin-top: 0; margin-bottom: 0"><font size="1.5">                                                        --------    --------    --------    --------    --------    --------
Service cost                                            $  2,450    $  2,139    $    606    $    579    $     84    $     79
Interest cost                                              7,999       7,986         891         939         150         143
Expected return on plan assets                            (7,887)     (7,141)       (672)       (876)        (24)        (25)</font></pre>
<PRE style="line-height: 100%; margin-top: 0; margin-bottom: 0"><font size="1.5">Amortization of unrecognized   </font></pre>
<PRE style="line-height: 100%; margin-top: 0; margin-bottom: 0"><font size="1.5">   prior service cost                                        524         694         318         435         (12)        (11)
Amortization of unrecognized  </font></pre>
<PRE style="line-height: 100%; margin-top: 0; margin-bottom: 0"><font size="1.5">   net transition obligation                                   -           -           -           -          53          53</font></pre>
<PRE style="line-height: 100%; margin-top: 0; margin-bottom: 0"><font size="1.5">Amortization of accumulated loss                           4,133       4,035           -           -          37          16
Settlement Charge                                         10,901           -           -           -           -           -
Curtailment Loss                                           1,916           -           -           -           -           -</font></pre>
<PRE style="line-height: 100%; margin-top: 0; margin-bottom: 0"><font size="1.5">                                                        --------    --------    --------    --------    --------    --------
Net periodic cost                                       $ 20,036    $  7,713    $  1,143    $  1,077    $    288    $    255
                                                        ========    ========    ========    ========    ========    ========</font></pre>
</TD>
</TR>
</TABLE>
</CENTER>
<p align=center style="line-height: 100%">&nbsp;</p>
<p align=left style="line-height: 100%"><font style="FONT-SIZE: 10pt" face="Times New Roman" size="2">The
Company's policy is to make pension plan contributions to the extent such
contributions are mandatory, actuarially determined and tax deductible. </font><font style="FONT-SIZE: 10pt" size="2">The
Company&nbsp; contributed $5,758 to the U.S. qualified pension plans in the
first three quarters of 2004.</font></p>
<blockquote>
<p align=left style="line-height: 100%">&nbsp;<b><font size="2">Item
  2.&nbsp;&nbsp;Management's Discussion and Analysis of Financial <br>
  &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Condition
  and Results of Operations</font></b></p>
</blockquote>
<p align=center style='line-height: 100%; margin-top: 0; margin-bottom: 0'><b><font size="2">Ameron
  International Corporation and Subsidiaries <br>
August 29, 2004</font></b></p>
  <p style="line-height: 100%; margin-top: 0; margin-bottom: 0"><b><font size="2">INTRODUCTION </font></b></p>
<p>Ameron International Corporation (&quot;Ameron&quot; or the &quot;Company&quot;) is a multinational manufacturer of highly-engineered products and materials for the chemical, industrial, energy, transportation and infrastructure markets.  Ameron is a leading producer of water transmission lines; high-performance coatings and finishes for the protection of metals and structures; fiberglass-composite pipe for transporting oil, chemicals and corrosive fluids; and specialized materials and products used in infrastructure projects.  The Company operates businesses in North America, South America, Europe, Australasia and Asia.  The Company has four reportable segments. The Performance Coatings &amp; Finishes Group manufactures and markets high-performance industrial and marine coatings. The Fiberglass-Composite Pipe Group manufactures and markets filament-wound and molded composite fiberglass pipe, tubing, fittings and well screens.  The Water Transmission Group manufactures and supplies concrete and steel pressure pipe, concrete non-pressure pipe, protective linings for pipe, and fabricated steel products. The Infrastructure Products Group manufactures and sells ready-mix concrete, sand and aggregates, concrete pipe and culverts, and concrete and</p>
  <p>&nbsp;</p>
  <p align="center">12</p>
  <p>steel lighting and traffic poles.  The markets served by the Performance Coatings &amp; Finishes Group and the Fiberglass-Composite Pipe Group are worldwide in scope. The Water Transmission Group serves primarily the western U.S.  The Infrastructure Products Group's quarry and ready-mix business operates exclusively in Hawaii, and poles are sold throughout the U.S.  Ameron also participates in several joint-venture companies, directly in the U.S. and Saudi Arabia, and indirectly in Kuwait and Egypt. </p>
  <p>Management's Discussion and Analysis should
  be read in conjunction with the same discussion included in the Company's 2003 Annual Report. Reference should
  also be made to the
  financial statements included in this Form 10-Q for comparative consolidated
  balance sheets and statements of income and cash flows. </p>
<p><b>CRITICAL ACCOUNTING POLICIES AND ESTIMATES</b></p>
<p>Management's Discussion and Analysis of Liquidity and Capital Resources and
Results of Operations are based upon the&nbsp;Company's consolidated
financial statements,
which have been prepared in accordance with accounting
principles generally accepted in the United States of America.&nbsp; The preparation of these financial
statements requires management to make certain estimates and assumptions that
affect the reported amounts of assets, liabilities, revenues and expenses, and
related disclosure of contingent assets and liabilities during the reporting
periods.&nbsp; Management bases its estimates on historical experience and on
various other assumptions that are believed to be reasonable under the
circumstances, the results of which form the
basis for making judgments about
the carrying values of assets and liabilities that are not readily apparent from
other sources.&nbsp; Actual results could differ from those estimates.&nbsp;&nbsp; <p>The Company's significant accounting policies are disclosed in Note 1 of
Notes to Consolidated Financial Statements in the Company's 2003 Annual
Report.&nbsp; Management believes the following accounting policies affect the
more significant estimates used in preparing the consolidated financial
statements.</p>
<p>The consolidated financial statements include the accounts of
Ameron International Corporation and all wholly-owned subsidiaries.&nbsp; All material intercompany accounts and
transactions have been eliminated.&nbsp; The functional currencies for the
Company's foreign operations are the applicable local currencies.&nbsp; The
translation from the applicable foreign currencies to U.S. dollars is performed
for balance sheet accounts using current exchange rates in effect at the balance
sheet date and for revenue and expense accounts using a weighted-average
exchange rate during the period.&nbsp; The resulting translation adjustments are
recorded in accumulated other comprehensive loss.&nbsp; The Company advances
funds to certain foreign subsidiaries that are not expected to be repaid in the
foreseeable future.&nbsp; Translation adjustments arising from these advances
are also included in accumulated other comprehensive loss.&nbsp; The timing of
repayments of intercompany advances could materially impact the
Company's consolidated financial statements.&nbsp; Additionally,
earnings of foreign subsidiaries are often reinvested outside the U.S.&nbsp; Unforeseen
repatriation of such earnings could result in significant unrecognized U.S. tax liability.&nbsp;
Gains or losses
resulting from foreign currency transactions are included in other income.</p>
<p>Revenue for the Performance Coatings &amp; Finishes, Fiberglass-Composite
Pipe and Infrastructure Products segments is recognized when risk of ownership
and title pass, primarily at the time goods are shipped, provided that an agreement exists
between the customer and the Company, the price is fixed or determinable and
collection is reasonably assured.&nbsp; In limited circumstances within the
Performance Coatings &amp; Finishes Group, revenue recognition associated with
shipment of coatings for marine dry dockings is delayed until product returns
are processed.&nbsp; Revenue is recognized for the Water Transmission Group
primarily under the percentage-of-completion method, typically based on
completed units of production, since products manufactured under enforceable and
binding construction contracts typically are designed for specific applications, are not
interchangeable between projects, and are not manufactured&nbsp; for
stock.&nbsp; In some cases, if products are manufactured
for&nbsp;stock or are not related to specific construction contracts, revenue is
recognized under the same
criteria used by the other three segments.&nbsp;&nbsp;&nbsp;&nbsp;Revenue under the percentage-of-completion method is subject to
a greater level of estimation, which affects the timing of revenue recognition, costs and
profits.&nbsp; Estimates are reviewed on a consistent basis and are adjusted
periodically to reflect current expectations.</p>
<p>The
Company expenses environmental clean-up costs related to existing conditions
resulting from past or current operations on a site-by-site basis.&nbsp;
Liabilities and costs associated with these matters, as well as other
pending litigation and asserted claims arising in the ordinary course of
business, require estimates of future costs and judgments based on the knowledge
and experience of management and its legal counsel.&nbsp;
When estimates of the Company's exposure can be reasonably estimated
and probable, liabilities and expenses are recorded.&nbsp;
The ultimate resolution of any such exposure to the Company may differ
due to subsequent developments.</p>
<p>Inventories are stated at the lower of cost or market with cost determined
principally on the first-in, first-out (FIFO) method.&nbsp; Certain steel&nbsp;inventories
used by the Water Transmission Group are valued using the last-in, first-out (LIFO) method.&nbsp;
Reserves are established for excess, obsolete and rework inventories based on
age, estimates of salability and forecasted future demand.&nbsp; Management records an allowance for doubtful accounts receivable based on
historical experience and expected trends.&nbsp; A significant reduction in
demand or significant worsening of customer credit quality could materially
impact the Company's consolidated financial statements.&nbsp; Property, plant and equipment
is stated on the basis of cost and depreciated principally on a straight-line
method based on the estimated useful lives of the related assets, generally
three to
40 years.</p>
<p>Investments in unconsolidated joint ventures or affiliates (&quot;joint ventures&quot;) over
which the Company has significant influence are accounted for under the equity
method of accounting, whereby the investment is carried at the cost of
acquisition, plus the Company's&nbsp;equity in undistributed earnings or losses
since acquisition.&nbsp; Investments in joint ventures over which the Company
does not have the ability to exert significant influence over the investee's operating and financing activities are accounted for under the cost method of
accounting.&nbsp; The Company's </p>
<p align="center">13 </p>
<p>investment in TAMCO is accounted for under the
equity method.&nbsp; Investments in Ameron Saudi Arabia, Ltd., Bondstrand, Ltd.
and Oasis-Ameron, Ltd. are accounted for under the cost method due to
management's current assessment of the Company's&nbsp; influence over these
joint ventures.&nbsp;&nbsp;</p>
<p>The Company reviews long-lived assets for
impairment whenever events or changes in circumstances indicate that the
carrying value of such assets may not be recoverable.&nbsp; If the estimated
future, undiscounted cash flows from the use of an asset are less than its
carrying value, a write-down is recorded to reduce the related assets to
estimated fair value.&nbsp;&nbsp;</p>
<p>The Company is self insured for a portion of the losses and liabilities primarily associated
with workers' compensation claims and general, product and vehicle
liability.&nbsp; Losses are accrued based upon the Company's estimates of the
aggregate liability for claims incurred using historical experience and certain actuarial assumptions
followed in the insurance industry.&nbsp; The estimate of self insurance
liability includes an estimate of incurred but not reported claims, based on
data compiled from historical experience.&nbsp; Actual experience could differ significantly
from these estimates and could materially impact the Company's
consolidated financial statements.</p>
<p>The
Company follows the guidance of Statement of Financial Accounting Standards (&quot;SFAS&quot;)
No. 87, &quot;Employers' Accounting for Pensions,&quot; and SFAS No. 106,
&quot;Employers' Accounting for Postretirement Benefits Other Than
Pensions,&quot; when accounting for pension and other postretirement benefits.&nbsp;
Under these accounting standards, assumptions are made regarding the valuation
of benefit obligations and the performance of plan assets that are controlled
and invested by third-party fiduciaries.&nbsp; Delayed recognition of differences
between actual results and expected or estimated results is a guiding principle
of these standards.&nbsp; Such delayed recognition provides a gradual recognition of
benefit obligations and investment performance over the working lives of the
employees who benefit under the plans, based on various assumptions.&nbsp; Assumed
discount rates are used to calculate the present values of benefit payments which
are projected to be made in
the future, including projections of increases in employee's annual
compensation and health care costs.&nbsp; Management also projects the future return on invested assets based
principally on prior performance.&nbsp; These projected returns reduce the net benefit
costs the Company records in the current period.&nbsp; Actual results could vary
significantly from projected results, and such deviation could materially impact
the Company's consolidated financial statements.&nbsp; Management
consults with its actuaries when determining these assumptions.&nbsp; Unforecasted program changes, including termination, freezing of benefits or acceleration of
benefits, could result in an immediate recognition of unrecognized benefit
obligations; and such recognition could materially impact the Company's
consolidated financial statements.</p>
<p>Management incentive compensation is accrued based on current estimates of
the Company's ability to achieve short-term and long-term performance targets.</p>
<p>Deferred income tax assets and liabilities
are computed for differences between the financial statement and income tax
bases of assets and liabilities.&nbsp; Such deferred income tax asset and
liability computations are based on enacted tax laws and rates applicable to
periods in which the differences are expected to reverse.&nbsp; Valuation
allowances are established, when necessary, to reduce deferred income
tax assets to the amounts expected to be realized.&nbsp; Quarterly income taxes
are estimated based on the mix of income by jurisdiction forecasted for the full
fiscal year.&nbsp; The Company believes that it has adequately provided for
tax-related matters.&nbsp; The Company is subject to examination by taxing
authorities in various jurisdictions.&nbsp; Matters raised upon audit may
involve substantial&nbsp;amounts and could be material.&nbsp; Management
considers it unlikely that resolution of any such matters would have a material
adverse effect upon the Company's consolidated financial statements.</p>
<p style="line-height: 100%">&nbsp;<b><font size="2">LIQUIDITY AND CAPITAL RESOURCES</font></b></p>
<p>During
the nine months ended August 29, 2004, the Company generated cash from
operating activities of $20.0 million, compared to $29.5 million in the same period in 2003.&nbsp;
The
lower operating cash flow in 2004 was primarily due to lower earnings and reduced
liabilities, partially offset by lower current
assets, principally receivables.&nbsp; Liabilities decreased due to payments of
employee benefits and
income taxes.&nbsp;&nbsp;Receivables declined primarily due to collections by the Water Transmission Group associated with completed projects.</p>
<p>Net
cash used in investing activities totaled $12.8 million during the nine months
ended August 29,&nbsp;2004, compared to $9.6 million in the same period in 2003.&nbsp; In 2004, net cash used
in investing activities consisted of&nbsp;proceeds from the sale of assets of&nbsp;
$.3 million, offset by
capital expenditures of $13.1 million.&nbsp; Capital expenditures were primarily for normal&nbsp;replacement and
upgrades of machinery and equipment.&nbsp; During the fiscal year ending
November 30, 2004, the Company anticipates spending between $15 and $20 million on capital expenditures. Capital expenditures are expected to be funded
by existing cash balances, cash generated from operations or additional
borrowings. </p>
<p>Net
cash used in&nbsp;financing activities was $1.9 million during the nine months
ended August 29,&nbsp; 2004, compared to $9.7 million used in the same period in 2003.&nbsp; The net
cash used in&nbsp;financing activities in 2004 consisted of a net issuance of debt of
$.7 million, debt issuance costs of $.5 million, payment of
common stock dividends of $5.0 million, and a net issuance of common stock of $3.0 million.  Issuance of common stock related to exercised stock options.</p>
<p>In June 2004, the Company extended a
$100 million revolving credit facility with six banks (the &quot;Revolver&quot;).&nbsp; Under the Revolver, the Company may, at its option,
borrow at floating interest rates based on specified margins over money market
rates, at any time until June 2008, when all borrowings under the Revolver
must be repaid.&nbsp;&nbsp; </p>
<p>&nbsp;</p>
<p align="center">14</p>
<p>The Company's lending agreements contain various restrictive covenants, including the
requirement to maintain specified amounts of net worth and restrictions on cash
dividends, borrowings, liens, investments and guarantees.&nbsp; The Company is
required to maintain consolidated net worth of $195.0 million plus 50% of net
income and 75% of the proceeds from any equity issued after February 28, 2004.&nbsp; The Company's consolidated
net worth exceeded the covenant amount by $66.7 million as of August 29, 2004.&nbsp;
The Company is required to maintain a consolidated leverage ratio of
consolidated funded indebtedness to earnings before interest, taxes,
depreciation and amortization (&quot;EBITDA&quot;) of no more than 2.75 times.&nbsp;
As of August 29, 2004, the Company maintained a debt leverage ratio of&nbsp;1.73 times EBITDA.&nbsp; Lending agreements require that the Company
maintain qualified consolidated tangible assets at least equal to the
outstanding secured funded indebtedness.&nbsp; As of August 29, 2004,
qualifying tangible assets equaled&nbsp;1.73 times funded indebtedness.&nbsp; Under
the most restrictive fixed charge coverage ratio, the sum of EBITDA and rental
expense less cash taxes must be at least 1.5 times the sum of&nbsp;interest
expense, rental expense, dividends and scheduled funded debt payments.&nbsp; As
of August 29, 2004, the Company maintained a ratio of&nbsp;1.94 times. </p>
<p>Cash
and cash equivalents at August 29, 2004 totaled $25.9 million, an increase of $5.5 million from November 30, 2003.&nbsp; At
August 29, 2004, the Company had
total debt outstanding of $95.0 million and approximately $113 million in
unused committed and uncommitted credit lines available from foreign and
domestic banks.&nbsp; The Company's highest borrowing and the average borrowing
level during 2004 were $96.8 million and $95.1 million, respectively.</p>
<p>In
June 2004, the Company terminated two
executive benefit programs in consideration of ongoing costs, anticipated
legislative restrictions on such programs, and a preference for executive
benefit plans having more predictable costs.&nbsp; Ameron previously purchased life insurance policies to cover benefits
under the plans.&nbsp; The cash surrender values of these policies totaled approximately $26.9 million as of August 29, 2004 and exceeded the amount (totaling $25.6 million) that would be required if lump-sum payments were elected by all plan participants.  During the quarter ended August 29, 2004, $24.7 million was paid to participants to settle most of the obligations of the Company under the plans.  The settlement payments were made using existing cash balances, and the life insurance policies continued to be held for investment purposes and to reduce income taxes.  Management anticipates that, going forward, a portion of the life insurance policies will be liquidated and a portion of the policies will continue to be held for general investment purposes.&nbsp;&nbsp;</p>
<p>Management believes that cash flow from operations and current cash
balances, together with currently available lines of credit, will be sufficient to meet
operating requirements in 2004.  Cash available from operations could be affected by any
  general economic downturn or any decline or adverse changes in the Company's
  business, such as a loss of customers or significant raw material price increases.&nbsp;
Management does not believe it likely that business or economic conditions will
worsen or that costs will increase sufficiently to impact short-term liquidity.&nbsp;</p>

<p>The Company's contractual obligations and commercial commitments at
August 29, 2004 are summarized as follows (in thousands):</p>

<CENTER>
<TABLE width="529">
<TR>
<TD width="521">
<PRE style="line-height: 100%"><font size=1.5>                                                                        Payments Due by Period
                                                          -------------------------------------------------
                                                                   Less than      1 - 3    3 - 5    After 5
Contractual Obligations                                    Total      1 year      years    years      years
-----------------------------------------------------------------------------------------------------------
Long-Term Debt (a)                                      $ 95,012    $  8,333   $ 36,667  $24,312    $25,700
Operating Leases                                          35,564       4,705      5,384    4,537     20,938</font><font size="1">
                                                         --------------------------------------------------
Total Contractual Obligations (b)                       $130,576    $ 13,038   $ 42,051  $28,849    $46,638
                                                         ==================================================
                                                                        Commitments Expiring
                                                                            Per Period
                                                        ---------------------------------------------------
                                                                    Less than     1 - 3    3 - 5    After 5
Commercial Commitments                                     Total       1 year     years    years      years
-----------------------------------------------------------------------------------------------------------
Standby Letters of Credit (c)                            $ 2,300      $ 2,300      $  -     $  -       $  -
                                                         --------------------------------------------------
Total Commercial Commitments (b)                         $ 2,300      $ 2,300      $  -     $  -       $  -
                                                         ==================================================
(a) Included in long-term debt is $4,312 outstanding under a revolving credit facility, and bank lines
    supported by the Revolver, which is due in 2008.
(b) The Company has no capitalized lease obligations, unconditional purchase obligations, guarantees, or
    standby repurchase obligations.
(c) Not included are standby letters of credit</font><font size="2"> </font><font size="1.5">totaling $16,065 supporting industrial development bonds with a
    principal of $15,700.  The principal amount of the industrial development bonds is included in long-term debt.</font></PRE>
</TD>
</TR>
</TABLE>
</CENTER>

  <p><b>RESULTS OF OPERATIONS </b></p>

<p><u><b>General</b></u></p>

<p>The Company had a net
loss of $8.8 million, or $1.05 per diluted share, on sales of $155.4
million for the quarter ended August 29, 2004, compared to net income of $7.7 million, or $.94 per diluted share, on sales of $155.2 million for the same
period in 2003.&nbsp; Both the Performance Coatings &amp; Finishes and
Infrastructure Products Groups had higher sales.  Sales of the
Fiberglass-Composite Pipe Group were </p>

<p align="center">15</p>

<p>flat, and&nbsp;sales of the Water
Transmission Group were lower.&nbsp; The loss was primarily caused by the costs related to the curtailment and settlement of the executive benefit plans, totaling $12.8 million.  Lower profits from consolidated operations was partially offset by the improved performance of TAMCO, the Company's 50%-owned steel manufacturing venture.  Total profits from consolidated operations declined in the third quarter compared to the same period in 2003.  Higher income from the
Fiberglass-Composite Pipe and Infrastructure Products Groups partially offset declines by
the Performance Coatings &amp; Finishes and Water Transmission Groups.&nbsp; </p>

<p>The Company had a net
loss of $4.7 million, or $.56 per diluted share, on sales of $435.6
million for the nine months ended August 29, 2004.&nbsp; The Company earned $17.7 million, or $2.19 per diluted share, on sales of
$433.6 million for the same period of 2003.&nbsp; The loss in 2004 came from lower income from consolidated operations, due partly to labor disputes and weak market conditions in the first half of 2004, and the curtailment and settlement costs associated with termination of the benefit plans.  Mitigating the decline was the improvement of TAMCO.  The Performance Coatings &amp; Finishes and Fiberglass-Composite Pipe
Groups had higher sales primarily due to the impact of changing foreign currency
rates.&nbsp; Sales of the Water Transmission and Infrastructure Products Groups
declined because of the labor disputes that took place earlier in the year.&nbsp; The Water Transmission Group was also impacted by weak demand in its primary market, the western U.S.  Year-to-date net income declined as lower gross profits and higher
selling, general and administrative expenses were partially offset by higher equity earnings of TAMCO and lower
income taxes.</p>

<p><u><b>Sales</b></u></p>

<p>Sales were flat in the third quarter of 2004, compared to the same
period in 2003.&nbsp; Performance Coatings &amp; Finishes' sales increased slightly due primarily to favorable changes in foreign exchange rates.  Sales of the Fiberglass-Composite Pipe Group were flat, and the increase in sales by the Infrastructure Products Group was more than offset by the sales decline of the Water Transmission Group. </p>

<p>Year-to-date
sales increased by $2.0 million in 2004, compared to the same period in 2003.&nbsp; In addition to the disruption caused by the first-half labor disputes, sales increases caused by changing foreign exchange rates and higher demand for
fiberglass pipe were offset by reduced demand in markets served by the Water Transmission Group.</p>

<p>Performance
Coatings &amp; Finishes' sales increased by $2.0 million in the third quarter
and by $9.5 million in the nine months ended August 29, 2004, compared to the same periods in 2003.&nbsp; The 2004 quarterly and year-to-date increases came from changing foreign exchange rates, as
sales in foreign currencies by international operations were converted based on a
weaker U.S. dollar.&nbsp; Sales in local currencies by operations outside the U.S. were slightly higher, offset by lower sales by U.S. operations.&nbsp; Improvements came with the sales of fire protection coatings in Europe and coil coatings in New Zealand.  Sales of protective coatings in the U.S. and Europe declined as a result
of continued weakness in spending in the industrial and chemical markets.&nbsp;
Additionally, sales of coatings for use in offshore oil and gas
production weakened in 2004 as offshore construction slowed in the U.S.&nbsp;
The anticipated upturn in spending by industrial customers in the U.S.
and Europe remains slower than expected.</p>

<p align="left">Fiberglass-Composite
Pipe's sales decreased by $.6 million in the third quarter and increased by $3.4 million in the nine months ended August 29, 2004, compared to the same periods in
the prior year.&nbsp; Changing foreign exchange rates contributed to a portion of the
improvements.  The Fiberglass-Composite Pipe Group continued to benefit from a strong performance from Asian operations.  Year-to-date sales from operations in Singapore and Malaysia were lower than in 2003 due to project timing, but sales accelerated in the third quarter due to strong demand for fiberglass piping for use in Asian marine and offshore construction markets.  Sales in the U.S. were down slightly for the quarter and the full year because of the weak industrial market and lower activity in the U.S. offshore construction market.  Sales of oilfield tubing for onshore application was down for the quarter and flat for the year to date.  Overall, demand for fiberglass piping remains robust, driven by higher oil
prices.&nbsp; Additionally, the escalating cost of competing products, especially steel
piping, is enhancing the competitiveness of fiberglass piping.&nbsp;&nbsp;</p>

<p align="left">The
Water Transmission Group's sales declined $5.5 million in the third quarter and $11.2 million in the nine months ended August 29, 2004, compared to the same periods in 2003.&nbsp;
The declines were the result of weak market conditions and labor disputes at two of the Group's
principal plants in Southern California in the first half of 2004.&nbsp; Workers at the two plants struck in early
February.&nbsp; Agreement was reached at one of the plants in the first quarter, at the
end of February, and at the second plant in the second quarter, at the end of
March.&nbsp; Sales of protective lining products for sewer pipe also declined due to a
cyclical slowdown in the waste water market and increased competition from
alternative products and suppliers.&nbsp; Revenue is recognized in the Water Transmission Group primarily under the
percentage of completion method and is subject to a certain level of estimation,
which affects the timing of revenue recognition, costs and profits.&nbsp;
Estimates are reviewed on a consistent basis and are adjusted when actual
results are expected to significantly differ from those estimates.&nbsp; The market for concrete and steel pressure pipe remains soft in the
western U.S., affected by a cyclical lull in infrastructure spending and
government budgetary constraints.&nbsp; Even though the business may be able to make up much of the revenue lost
in the first half due to the strikes, full-year results may be below the high levels of the last several years.&nbsp; Compounding
the current market conditions are limits on the availability of steel.&nbsp;
Ameron anticipates that sufficient steel will be provided to meet its
forecasted commitments; however, the ability to service unforecasted demand may
be limited.&nbsp; The needs for fresh and waste water infrastructure remain high in the
western U.S.&nbsp;&nbsp;</p>

<p>Sales of the Infrastructure Products Group increased $4.3 million in the third quarter and remained relatively flat in the nine months ended August 29, 2004, compared to the same periods in 2003.  Sales of Hawaiian operations were higher in the quarter and lower year to date. Hawaiian operations recovered from a labor dispute at the Company's principal aggregates and ready-mix concrete operations on Oahu in Hawaii which began in February and ended in early April.  Construction spending in Hawaii was deferred during the strikes, and demand </p>

<p align="center">16</p>

<p>remains strong for aggregates and ready-mix concrete used in residential and commercial construction.  Sales of poles were higher for the third quarter and the year, benefiting from the level of housing construction throughout the U.S., spurred by low interest rates..&nbsp;&nbsp;</p>

<p><u><b>Gross Profit</b></u></p>

<p>Gross
profit in the third quarter of 2004 was $38.2 million, or 24.6% of sales,
compared to $42.4 million, or 27.4% of sales, in the third quarter of 2003.&nbsp;
Gross profit in the nine months ended August 29, 2004 was $104.8 million, or 24.1%
of sales.&nbsp; The corresponding profit and margin in the nine months ended August 31, 2003 was $115.4 million and 26.6%.&nbsp; Gross profit decreased $4.2 million in the third quarter and $10.7 million
in the nine months ended August 29, 2004 due to lower margins and the impact in the first half of the strikes on
plant utilization.  In addition, a $2.0 million expense was recorded in the third quarter in anticipation of a year-end LIFO adjustment associated with higher steel prices.</p>

<p>Gross
profit of the Performance Coatings &amp; Finishes Group was flat in the third quarter of 2004 and declined $.6 million in
the nine months ended August 29, 2004, compared to the same periods in
2003.&nbsp; Quarterly and year-to-date profit margins were adversely impacted as the weaker dollar lowered profits
on sales by European operations into dollar-based markets in the Middle East and
the former Soviet Union.&nbsp; Manufacturing costs increased in the U.S. due to lower plant utilization and higher costs.</p>

<p>Fiberglass-Composite
Pipe's gross profit decreased $1.1 million in the third quarter and increased $.6 million in the nine months ended August 29, 2004, compared to 2003.&nbsp; Year-to-date profits increased due to higher sales.  Profit margins declined in both periods due to
changes in product mix.&nbsp;&nbsp;</p>

<p>Water
Transmission's gross profit decreased $1.5 million in the third quarter and
$6.6 million in the nine months ended August 29, 2004, compared to the same periods in 2003.&nbsp; Corresponding margins also declined.  The decreases were primarily the result of lower profit on the mix of
business as competitive pressures impacted margins because of the slow market
conditions.&nbsp; Profits were also affected by inefficient plant utilization caused by the
strikes in the first half of 2004 and higher workers' compensation costs.</p>

<p>Gross
profit of the Infrastructure Products Group increased $.4 million in the third quarter and decreased $1.8 million for the nine months ended August 29, 2004, compared to the same
periods in 2003.&nbsp; The decrease was caused by weather and the labor dispute in Hawaii in the first half of 2004, which
reduced profits on lower sales and affected plant efficiencies.</p>

<p><u><b>Selling, General and Administration Expenses
(&quot;SG&amp;A&quot;)</b></u></p>
<p>SG&amp;A
totaled $35.4 million, or 22.8% of sales, in the third quarter of 2004,
compared to $32.1 million, or 20.7% of sales, in the third quarter of 2003. The increase was due to higher compensation expense of $1.0 million, higher stock
compensation expense of&nbsp; $.7 million, higher insurance and pension
costs of $.6 million and higher expenses associated with legal claims of $1.3 million, offset by lower product development costs of $1.2 million.&nbsp; Additionally, SG&amp;A expenses were $.6 million higher as costs of
foreign operations translated into higher U.S. dollars due to exchange rate
changes.</p>
<p>For
the nine months ended August 29, 2004, SG&amp;A totaled $100.4 million, or 23.0% of
sales.&nbsp; Corresponding expenses totaled $92.6 million, or 21.4% of sales, in the
same period of 2003.&nbsp; SG&amp;A increased $7.7 million on higher pension and insurance
costs of $2.2 million, higher stock compensation expense of $.4 million, the impact of changing foreign exchange rates of $3.0 million, and higher legal expenses and consulting fees of $2.7 million.&nbsp; Additionally in 2003, SG&amp;A included a recovery of roughly $1.0
million, representing amounts agreed to be reimbursed to the Company by its own
and a supplier's insurance companies for past legal fees and costs in excess
of the negotiated settlement of the Central Arizona Project lawsuits.</p>
<p><u><b>Pension Plan Curtailment/Settlement</b></u></p>
<p>In June 2004, the Company terminated two executive benefit plans in consideration of ongoing
costs, anticipated legislative restrictions on such programs, and a preference
for executive benefit plans having more predictable costs.&nbsp; The Company
incurred a pretax expense of $12.8 million due to the termination of
the plans and
distributions to plan participants.&nbsp; The Company recorded this expense in
accordance with SFAS No. 88, &quot;Employers' Accounting for Settlements and
Curtailments of Defined Benefit Pension Plans and for Termination Benefits.&quot; SFAS No. 88 requires settlement accounting if the cost of all settlements,
including lump-sum retirement benefits paid, in a year exceeds, or is expected
to exceed, the total of the service and interest cost components of pension
expense for the same period.&nbsp; </p>
<p>Ameron previously purchased life insurance policies
to cover benefits under the plans.&nbsp; The cash surrender values of these
policies totaled approximately $26.9 million as of August 29, 2004 and exceeded the amount of lump-sum
payments (totaling approximately $25.6 million) required to settle all plan obligations.&nbsp; Termination and
settlement of the plans is expected to reduce benefit expenses in future years,
as well as reduce the approximately $2.7 million benefit expense forecasted for fiscal 2004 by
approximately $1.3 million.&nbsp; Ameron charged $2.1 million under the plans in
fiscal 2003.</p>
<p>&nbsp;</p>
<p align="center">17</p>
<p><u><b>Other Income</b></u></p>
<p>Other
income declined from $2.7 million in the third quarter of 2003 to $.7 million
in the third quarter of 2004.&nbsp; Other income declined from $8.7 million in the nine months ended August 31,
2003 to $2.8 million in the same period in 2004.&nbsp; Other income in all periods included royalties and fees from licensees, foreign currency
transaction gains or losses, and other miscellaneous income.&nbsp; Additionally, other income in the year-to-date 2003 period included dividends from Ameron's concrete-pipe and fiberglass-pipe ventures in Saudi Arabia of $2.6
million and $2.2 million, respectively.&nbsp; The fiberglass-pipe venture is benefiting from strong demand for
fiberglass pipe.&nbsp; The concrete-pipe venture is suffering from a cyclical lull in projects
in Saudi Arabia, and dividends from the concrete pipe venture are expected to be
less than in the prior year.  A gain of $2.5 million on the sale of Ameron's minority interest in a Mexican coatings venture was recognized during the third quarter of 2003.&nbsp; <p><u><b>Interest</b></u></p>
<p>Net
interest expense totaled $1.2 million in the third quarter of 2004, compared to
$1.8 million in the third quarter of 2003.&nbsp; The reduction in net interest expense was
due to lower debt levels in the third quarter of 2004.</p>
<p>Net
interest expense was lower in the nine months ended August 29, 2004, compared to the same period in 2003, as a result of lower interest rates in combination with lower debt levels.</p>
<p><u><b>Provision for Income Taxes</b></u></p>
  <p>Income
  taxes declined to $2.9 million in the third quarter of 2004 from $3.8 million
  in the third quarter of 2003.&nbsp; Income taxes declined to $3.0 million in the nine months ended August 29,
  2004, compared to $8.7 million in the comparable period of 2003.&nbsp; Taxes were recorded in the third quarter, even with a pretax loss, due to IRS limitations on the deductibility of a portion of the settlements associated with the executive benefit plan terminations.  Lower earnings are anticipated from domestic operations for the full year, which is expected to impact the full-year tax rates.&nbsp; Income from certain foreign operations and joint ventures is taxed at
  rates that are lower than the U.S. statutory tax rates.</p>
<p>The termination of the two benefit
programs mentioned above is expected to result in an increase in tax rates for
2004.&nbsp; Approximately $18.5 million of the payouts are not expected to receive an
associated tax benefit due to restrictions on the deductibility of certain
executive compensation.</p>
<p><u><b>Equity in Earnings of Joint
Venture, Net of Taxes</b></u>&nbsp;</p>
  <p>Equity
income, which consists of Ameron's share of the results of TAMCO, increased
from $.2 million in the third quarter of 2003 to $4.6 million in the third quarter of 2004.&nbsp; In the nine months ended August 29, 2004, equity income totaled
  $8.5 million, compared
to less than $.1 million in the nine months ended August 29, 2004.&nbsp; Ameron owns 50% of TAMCO, a mini-mill that produces steel rebar for the
construction industry in the western U.S.&nbsp; TAMCO performed well throughout 2004 due to regional demand for steel and higher prices.  The worldwide market for steel products increased dramatically in 2004
because of demand for steel in China.&nbsp; TAMCO is projected to perform well throughout 2004.</p>
  <blockquote>
  <p><b>&nbsp;&nbsp; Item
  3.&nbsp;&nbsp;Quantitative and Qualitative Market Risk Disclosure </b></p>
  </blockquote>
  <p>No material changes have
  occurred in the quantitative and qualitative market risk disclosure of the
  Company as presented in Ameron's&nbsp;2003 Annual Report. </p>
  <p>The Company utilizes significant
  quantities of steel, primarily by the Water Transmission Group and, to a
  lesser extent, the Infrastructure Products Group.&nbsp; The Company's
  principal steel suppliers have placed the Company's operations on
  allocation.&nbsp; Management believes that sufficient steel will be provided
  to meet forecasted commitments, at agreed prices.</p>
<blockquote>
  <p><b>&nbsp;&nbsp; Item 4.&nbsp; Controls and Procedures</b></p>
</blockquote>
<p>The
Company carried out an evaluation, under the supervision and with the
participation of the Company's management, including the Company's Chief
Executive Officer and Chief Financial Officer, of the effectiveness of the
design and operation of the Company's disclosure controls and procedures as of August 29, 2004 pursuant to Exchange Act Rule 13a-14.&nbsp; Based upon that evaluation, the
Chief Executive Officer and Chief Financial Officer concluded that the Company's
disclosure controls and procedures are effective in&nbsp;timely alerting them to
material information relating to the Company (including its consolidated
subsidiaries) required to be included in the Company's periodic Securities and
Exchange Commission filings.&nbsp; No significant changes were made in the
Company's internal controls or in other factors that could significantly affect
these controls subsequent to August 29, 2004.</p>

  <p>&nbsp;</p>

  <p align="center">18</p>

  <p><i>CAUTIONARY STATEMENT FOR PURPOSES OF THE
  &quot;SAFE HARBOR&quot; PROVISIONS OF THE PRIVATE SECURITIES LITIGATION REFORM
  ACT OF 1995</i></p>
  <p>Any of the above statements that refer to the
  Company's estimated or anticipated future results are forward-looking and
  reflect the Company's current analysis of existing trends and
  information.&nbsp; Actual results may differ from current expectations based
  on a number of factors affecting Ameron's businesses, including competitive
  conditions and changing market conditions.&nbsp; Matters affecting the economy
  generally, including the state of economies worldwide, can affect the
  Company's results.&nbsp; These forward-looking statements represent the
  Company's judgment only as of the date of this report.&nbsp; Since actual
  results could differ materially, the reader is cautioned not to rely on these
  forward-looking statements.&nbsp; Moreover, the Company disclaims any intent
  or obligation to update these forward looking
  statements.</p>

  <p style="margin-top: 0; margin-bottom: 0"><b>Part II.  OTHER INFORMATION</b></p>
<p style='margin-left: .5in; margin-top: 0; margin-bottom: 0'><b>Item
1.&nbsp; Legal Proceedings</b></p>
<blockquote>
<p style='margin-left: .5in'>The
Company is one of numerous defendants in various asbestos-related personal
injury lawsuits.&nbsp; These cases generally seek unspecified damages for
asbestos-related diseases based on alleged exposure to products previously
manufactured by the Company and others, and at this time the Company is
generally not aware of the extent of injuries allegedly suffered by the
individuals or the facts supporting the claim that injuries were caused by the
Company's products.&nbsp; Based upon the information available to it at this
time, the Company is not in a position to evaluate its potential exposure, if
any, as a result of such claims.&nbsp; Hence, no amounts have been accrued for
loss contingencies related to these lawsuits in accordance with SFAS No. 5,
&quot;Accounting for Contingencies.&quot; The Company continues to vigorously
defend all such lawsuits.&nbsp; As of August 29, 2004, the Company was a
defendant in asbestos-related cases involving 18,963 claimants, compared to 18,998 claimants as of May 31, 2004.&nbsp; The
Company is not in a position to estimate the number of additional claims that
may be filed against it in the future.&nbsp; For the quarter ended August 29,
2004, there were new claims involving two claimants, dismissals and/or settlements involving 37 claimants and no judgments.&nbsp;
Net costs and expenses
incurred by the Company for the quarter ended August 29, 2004 in connection
with asbestos-related claims were less than $.2 million.</p>
<p style='margin-left: .5in'>The
Company is one of numerous defendants in various silica-related personal injury
lawsuits.&nbsp; These cases generally seek unspecified damages for
silica-related diseases based on alleged exposure to products previously
manufactured by the Company and others, and at this time the Company is not
aware of the extent of injuries allegedly suffered by the individuals or the
facts supporting the claim that injuries were caused by the Company's
products.&nbsp; Based upon the information available to it at this time, the
Company is not in a position to evaluate its potential exposure, if any, as a
result of such claims.&nbsp;&nbsp;Hence, no amounts have been accrued for loss
contingencies related to these lawsuits in accordance with SFAS No. 5.&nbsp; The
Company continues to vigorously defend all such lawsuits.&nbsp; As of August 29, 2004, the Company was a defendant in silica-related cases involving&nbsp;7,760 claimants, compared to 7,776 claimants as of May 31, 2004.&nbsp; The
Company is not in a position to estimate the number of additional claims that
may be filed against it in the future.&nbsp; For the quarter ended August 29,
2004, there were new claims involving 203 claimants, dismissals and/or settlements involving&nbsp;219 claimants and no judgments.&nbsp; Net costs and expenses incurred by the Company&nbsp;for the
quarter ended August 29, 2004 in connection with silica-related claims
were less than $.2 million.</p>
<p style='margin-left: .5in'>In April 2003 the Company was served with a
complaint in an action brought by J. Ray McDermott, Inc., J. Ray McDermott, S.A.
and SparTEC, Inc. in the District Court of Harris County, Texas against the
Company and two co-defendants, in connection with certain coatings supplied by
defendants in 2002 for an offshore production facility known as a SPAR.
Plaintiffs allege that the Company's co-defendants improperly supplied coatings
which contained lead and/or lead chromate, and that as a result the Company and
its co-defendants are liable to plaintiffs for all costs associated with removal
and replacement of those coatings. Plaintiffs' petition alleged a claim for
damages in an unspecified amount. The matter is in active discovery. Plaintiffs' economic expert estimates plaintiffs' damages at approximately $21 million. The
Company believes that it has meritorious defenses to this action. <font style="FONT-SIZE: 10pt" face="Times New Roman" size="2">Based upon the information available to it at this time, the Company is not in a position to evaluate the ultimate outcome of this matter.</font></p>
</blockquote>
  <p style='margin-left: .5in; margin-top: 0; margin-bottom: 0'><b>Item
  2.&nbsp; Changes in Securities</b></p>
<blockquote>
  <p style='margin-left: .5in'>Terms of lending
  agreements place restrictions on cash dividends, stock repurchases,
  borrowings, investments and guarantees. Under the most restrictive provisions
  of these agreements, approximately $9.2 million of consolidated retained
  earnings were not restricted at August 29, 2004.</p>
  <p style='margin-left: .5in' align="center">&nbsp;</p>
  <p style='margin-left: .5in' align="center">&nbsp;</p>
  <p style='margin-left: .5in' align="center">&nbsp;</p>
  <p style='margin-left: .5in' align="center">19</p>
  <p style='line-height: 100%; margin-left: .5in' align="center">ISSUER
  PURCHASES OF EQUITY SECURITIES</p>
  <table border="0" cellspacing="0" cellpadding="0" style="border-collapse: collapse; mso-table-layout-alt: fixed; mso-padding-alt: 0in 0in 0in 0in" height="234" width="592">
    <tr>
      <td width="53" valign="bottom" style="padding: 0in" height="170" align="left">
        <p>&nbsp;</p>
      </td>
      <td width="154" valign="bottom" style="border-left-style: none; border-left-width: medium; border-right-style: none; border-right-width: medium; border-top-style: none; border-top-width: medium; border-bottom: .5pt solid windowtext; padding: 0in" height="170" align="left">
        <p class="MsoNormal" style="margin-left:10.0pt;text-indent:-10.0pt">
        <b style="mso-bidi-font-weight:normal"><font size="2">Period </font></b><font size="2"></p>
      </font>
      </td>
      <td width="11" valign="bottom" style="padding: 0in" height="170" align="left">
        <p class="MsoNormal">&nbsp;</p>
      </td>
      <td width="101" valign="bottom" style="border-left-style: none; border-left-width: medium; border-right-style: none; border-right-width: medium; border-top-style: none; border-top-width: medium; border-bottom: .5pt solid windowtext; padding: 0in" height="170">
        <p align="center" style="text-align:center">
        <b style="mso-bidi-font-weight:normal">
  <font size="2">(a)<br>
        Total<br>
        Number of<br>
        Shares (or<br>
        Units)<br>
        Purchased </font></b></p>
      </td>
      <td width="10" valign="bottom" style="padding: 0in" height="170">
        <p class="MsoNormal"><font size="2">&nbsp;</font></p>
      </td>
      <td width="79" valign="bottom" style="border-left-style: none; border-left-width: medium; border-right-style: none; border-right-width: medium; border-top-style: none; border-top-width: medium; border-bottom: .5pt solid windowtext; padding: 0in" height="170">
        <p align="center" style="text-align:center"><b style="mso-bidi-font-weight:normal"><font size="2">(b)<br>
        Average<br>
        Price<br>
        Paid per<br>
        Share (or<br>
        Unit </font></b><font size="2"></p>
        </font>
      </td>
      <td width="9" valign="bottom" style="padding: 0in" height="170">
        <p class="MsoNormal">&nbsp;</p>
      </td>
      <td width="85" valign="bottom" style="border-left-style: none; border-left-width: medium; border-right-style: none; border-right-width: medium; border-top-style: none; border-top-width: medium; border-bottom: .5pt solid windowtext; padding: 0in" height="170">
        <p align="center" style="text-align:center">
        <b style="mso-bidi-font-weight:normal"><font size="2">(c)<br>
        Number of<br>
        Shares (or<br>
        Units)<br>
        Purchased as<br>
        Part of<br>
        Publicly<br>
        Announced<br>
        Plans or<br>
        Programs </font></b><font size="2"></p>
        </font>
      </td>
      <td width="9" valign="bottom" style="padding: 0in" height="170">
        <p class="MsoNormal">&nbsp;</p>
      </td>
      <td width="88" valign="bottom" style="border-left-style: none; border-left-width: medium; border-right-style: none; border-right-width: medium; border-top-style: none; border-top-width: medium; border-bottom: .5pt solid windowtext; padding: 0in" height="170">
        <p align="center" style="text-align:center">
        <font size="2">
        <b style="mso-bidi-font-weight:normal">(d)<br>
        Maximum<br>
        Number (or<br>
        Approximate<br>
        Dollar Value) of<br>
        Shares (or<br>
        Units) that<br>
        May Yet Be<br>
        Purchased under<br>
        the Plans or<br>
        Programs **</b> </p>
        </font>
      </td>
      <td width="4" valign="bottom" style="padding: 0in" height="170">
        <p class="MsoNormal">&nbsp;</p>
      </td>
    </tr>
    <tr>
  <td width="47" valign="bottom" style="background-repeat: repeat; background-attachment: scroll; padding: 0in; background-position: 0% 50%" height="21" align="left">
        <p>&nbsp; </p>
      </td>
<td width="154" valign="top" style="mso-border-top-alt: solid windowtext .5pt; background-repeat: repeat; background-attachment: scroll; border-style: none; border-width: medium; padding: 0in; background-position: 0% 50%" height="21" align="left">
        <p style="margin-left:10.0pt;text-indent:-10.0pt">
        <font size="2">6/1/04
        thru 6/27/04</font></p>
      </td>
      <td width="5" valign="bottom" style="background-repeat: repeat; background-attachment: scroll; padding: 0in; background-position: 0% 50%" height="21" align="left">
        <p><font size="2">&nbsp; </font></p>
      </td>
      <td width="101" valign="bottom" style="mso-border-top-alt: solid windowtext .5pt; background-repeat: repeat; background-attachment: scroll; border-style: none; border-width: medium; padding: 0in; background-position: 0% 50%" height="21">
        <p align="center" style="text-align:center"><font size="2">- </font></p>
      </td>
      <td width="10" valign="bottom" style="background-repeat: repeat; background-attachment: scroll; padding: 0in; background-position: 0% 50%" height="21">
        <p class="MsoNormal" align="center" style="text-align:center"><font size="2">&nbsp; </font></p>
      </td>
      <td width="79" valign="bottom" style="mso-border-top-alt: solid windowtext .5pt; background-repeat: repeat; background-attachment: scroll; border-style: none; border-width: medium; padding: 0in; background-position: 0% 50%" height="21">
        <p align="center" style="text-align:center"><font size="2">N/A</font> </p>
      </td>
  <font size="2">
      <td width="9" valign="bottom" style="background-repeat: repeat; background-attachment: scroll; padding: 0in; background-position: 0% 50%" height="21">
        <p class="MsoNormal" align="center" style="text-align:center">&nbsp; </p>
      </td>
      <td width="85" valign="bottom" style="mso-border-top-alt: solid windowtext .5pt; background-repeat: repeat; background-attachment: scroll; border-style: none; border-width: medium; padding: 0in; background-position: 0% 50%" height="21">
        <p align="center" style="text-align:center">
    </font><font size="2">-</font> </p>
      </td>
  <font size="2">
      <td width="9" valign="bottom" style="background-repeat: repeat; background-attachment: scroll; padding: 0in; background-position: 0% 50%" height="21">
        <p class="MsoNormal" align="center" style="text-align:center">&nbsp; </p>
      </td>
      <td width="88" valign="bottom" style="mso-border-top-alt: solid windowtext .5pt; background-repeat: repeat; background-attachment: scroll; border-style: none; border-width: medium; padding: 0in; background-position: 0% 50%" height="21">
        <p align="center" style="text-align:center">
    </font>
        <font size="2">
    N/A</font> </p>
      </td>
  <td width="4" valign="bottom" style="background-repeat: repeat; background-attachment: scroll; padding: 0in; background-position: 0% 50%" height="21">
        <p class="MsoNormal">&nbsp; </p>
      </td>
    </tr>
    <tr>
  <td width="47" valign="bottom" style="padding: 0in" height="22" align="left">
        <p>&nbsp; </p>
      </td>
<td width="152" valign="top" style="padding: 0in" height="22" align="left">
        <p style="margin-left:10.0pt;text-indent:-10.0pt">
    </font><font size="2">6/28/04
        thru 8/1/04 </font></p>
      </td>
      <td width="5" valign="bottom" style="padding: 0in" height="22" align="left">
        <p><font size="2">&nbsp; </font></p>
      </td>
      <td width="99" valign="bottom" style="padding: 0in" height="22">
        <p align="center" style="text-align:center">
        <font size="2">-</font> </p>
      </td>
  <font size="2">
      <td width="10" valign="bottom" style="padding: 0in" height="22">
        <p class="MsoNormal" align="center" style="text-align:center">&nbsp; </p>
      </td>
      <td width="77" valign="bottom" style="padding: 0in" height="22">
        <p align="center">
    </font>
        <font size="2">
    N/A</font> </td>
  <td width="9" valign="bottom" style="padding: 0in" height="22">
      </td>
    <td width="83" valign="bottom" style="padding: 0in" height="22">
        <p align="center" style="text-align:center"><font size="2">-</font> </p>
      </td>
  <font size="2">
      <td width="9" valign="bottom" style="padding: 0in" height="22">
        <p class="MsoNormal" align="center" style="text-align:center">&nbsp; </p>
      </td>
      <td width="86" valign="bottom" style="padding: 0in" height="22">
        <p align="center" style="text-align:center">
    </font>
        <font size="2">
    N/A</font> </p>
      </td>
  <td width="4" valign="bottom" style="padding: 0in" height="22">
        <p class="MsoNormal">&nbsp; </p>
      </td>
    </tr>
    <tr>
  <td width="47" valign="bottom" style="background-repeat: repeat; background-attachment: scroll; padding: 0in; background-position: 0% 50%" height="21" align="left">
        <p>&nbsp; </p>
      </td>
<td width="152" valign="top" style="background-repeat: repeat; background-attachment: scroll; padding: 0in; background-position: 0% 50%" height="21" align="left">
        <p style="margin-left:10.0pt;text-indent:-10.0pt">
    </font><font size="2">8/2/04
        thru 8/29/04 </font></p>
      </td>
      <td width="5" valign="bottom" style="background-repeat: repeat; background-attachment: scroll; padding: 0in; background-position: 0% 50%" height="21" align="left">
        <p><font size="2">&nbsp; </font></p>
      </td>
      <td width="99" valign="bottom" style="background-repeat: repeat; background-attachment: scroll; padding: 0in; background-position: 0% 50%" height="21">
        <p align="center" style="text-align:center"><font size="2">-</font> </p>
      </td>
  <font size="2">
      <td width="10" valign="bottom" style="background-repeat: repeat; background-attachment: scroll; padding: 0in; background-position: 0% 50%" height="21">
        <p class="MsoNormal" align="center" style="text-align:center">&nbsp; </p>
      </td>
      <td width="77" valign="bottom" style="background-repeat: repeat; background-attachment: scroll; padding: 0in; background-position: 0% 50%" height="21">
        <p align="center" style="text-align:center">
    </font>
        <font size="2">
    N/A</font> </p>
      </td>
  <font size="2">
      <td width="9" valign="bottom" style="background-repeat: repeat; background-attachment: scroll; padding: 0in; background-position: 0% 50%" height="21">
        <p class="MsoNormal" align="center" style="text-align:center">&nbsp; </p>
      </td>
      <td width="83" valign="bottom" style="background-repeat: repeat; background-attachment: scroll; padding: 0in; background-position: 0% 50%" height="21">
        <p align="center" style="text-align:center">
    </font><font size="2">-</font> </p>
      </td>
  <font size="2">
      <td width="9" valign="bottom" style="background-repeat: repeat; background-attachment: scroll; padding: 0in; background-position: 0% 50%" height="21">
        <p class="MsoNormal" align="center" style="text-align:center">&nbsp; </p>
      </td>
      <td width="86" valign="bottom" style="background-repeat: repeat; background-attachment: scroll; padding: 0in; background-position: 0% 50%" height="21">
        <p align="center" style="text-align:center">
    </font>
        <font size="2">
    N/A</font> </p>
      </td>
  <td width="4" valign="bottom" style="background-repeat: repeat; background-attachment: scroll; padding: 0in; background-position: 0% 50%" height="21">
        <p class="MsoNormal">&nbsp; </p>
      </td>
    </tr>
  </table>
    <p style='line-height: 100%; margin-left: .5in'><font size="2">**Shares
    may be repurchased by the Company&nbsp; to pay taxes
    applicable to the vesting of employee's restricted stock.&nbsp; However,
    because neither the amount of such taxes nor the share price on the date of
    such repurchases are known at this time, it is not possible to estimate the
    numbers of such shares that would be so repurchased.</font></p>
</blockquote>
<p style='margin-left: .5in'><b>Item 5. Other Information</b></p>
        <blockquote>
          <p style="margin-left: .5in">In June 2004, the
          Company terminated two executive
          benefit plans in consideration of ongoing costs, anticipated
          legislative restrictions on such programs, and a preference for
          executive benefit plans having more predictable costs.&nbsp; The Company
incurred a one-time pretax expense of $12.8 million due to the termination of
          the plans and
distributions to plan participants.&nbsp; The Company recorded this expense in
accordance with SFAS No. 88, &quot;Employers' Accounting for Settlements and
Curtailments of Defined Benefit Pension Plans and for Termination Benefits.&quot; SFAS No. 88 requires settlement accounting if the cost of all settlements,
including lump-sum retirement benefits paid, in a year exceeds, or is expected
to exceed, the total of the service and interest cost components of pension
expense for the same period.&nbsp; </p>
          <p style="margin-left: .5in">Ameron previously
          purchased life insurance policies to cover benefits under the plans.&nbsp;
          The cash surrender values of these policies (totaling approximately
          $26.9 million) exceed the amount of lump-sum payments (totaling $25.6 million) required to
          settle all plan obligations.&nbsp; Termination and settlement of the
          plans is expected to reduce benefit expenses in future years, as well
          as reduce the approximately $2.7 million benefit expense forecasted for fiscal 2004
          by approximately $1.3 million.&nbsp; Ameron charged $2.1 million under
          the plans in fiscal 2003.</p>
        </blockquote>

  <p style='margin-left: .5in'><b>Item
  6.  Exhibits and Reports on Form 8-K</b></p>
<blockquote>
  <p style='margin-left: .5in'>A Form 8-K was filed on
  June
  28, 2004&nbsp; to report the Company's financial results for the second quarter
  ended May 31, 2004, as reported in a press release dated&nbsp; June 25,
  2004.</p>
  <p style='margin-left: .5in'>A Form 8-K was filed on
  June 28, 2004&nbsp;to
  report, under Item 5, the Company's quarterly dividend of $.20 per share, as reported in a press release dated
  June 28, 2004.</p>

  <p style='line-height: 200%; margin-left: .5in'>&nbsp;</p>
  <p style='line-height: 200%; margin-left: .5in'>&nbsp;</p>
  <p style='line-height: 100%; margin-left: .5in'>&nbsp;</p>
  <p style='line-height: 100%; margin-left: .5in'>&nbsp;</p>
  <p style='line-height: 100%; margin-left: .5in'>&nbsp;</p>
  <p style='line-height: 100%; margin-left: .5in'>&nbsp;</p>
  <p style='line-height: 200%; margin-left: .5in' align="center">&nbsp;20&nbsp;</p>
</blockquote>

<TABLE width="519">
<TR>
<font size="2">

<TD width="749">
<div align="center">
<center>
<p style="line-height: 100%"><font size="2">INDEX OF EXHIBITS</font></p>

</center>

<p style="line-height: 100%" align="left"><font size="2">Number and Description
of Exhibit<br>
----------------------------------------------</p>

</div>
</font>
  </font>
<p style="line-height: 100%; margin-right: 3" align="left"><font size="2">(31.1)
Section 302 Certification of Chief Executive Officer</font></p>

<p style="line-height: 100%" align="left"><font size="2">(31.2) Section 302
Certification of Chief Financial Officer</font></p>

<p style="line-height: 100%" align="left"><font size="2">(32) Section 906
Certification of Chief Executive Officer and Chief Financial Officer*</font></p>

  <p style="line-height: 100%" align="left"><font size="2">*&nbsp;&nbsp; A
  signed original of this written statement required by Section 906 has been
  provided to the Company and will be retained by
  the Company and furnished to the Securities and Exchange
  Commission or its staff upon request.<i> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<br>
</i></p>

</font>
</TD>
</TR>
</TABLE>

  <p align=center style="line-height: 100%">&nbsp; <p align=center style="line-height: 100%">&nbsp; <p align=center style="line-height: 100%">&nbsp; <p align=center style="line-height: 100%">&nbsp; <p align=center style="line-height: 100%">&nbsp; <p align=center style="line-height: 100%">&nbsp; <p align=center style="line-height: 100%">&nbsp; <p align=center style="line-height: 100%">&nbsp; <p align=center style="line-height: 100%">&nbsp; <p align=center style="line-height: 100%">&nbsp; <p align=center style="line-height: 100%">&nbsp; <p align=center style="line-height: 100%">&nbsp; <p align=center style="line-height: 100%">&nbsp; <p align=center style="line-height: 100%">&nbsp; <p align=center style="line-height: 100%">&nbsp; <p align=center style="line-height: 100%">&nbsp; <p align=center style="line-height: 100%">&nbsp; <p align=center style="line-height: 100%">&nbsp; <p align=center style="line-height: 100%">&nbsp; <p align=center style="line-height: 100%">&nbsp; <p align=center style="line-height: 100%">&nbsp; <p align=center style="line-height: 100%">&nbsp; <p align=center style="line-height: 100%">21 <p align=center style='line-height: 100%'><b>Signature Page<br>
  </b>

  <p align=left style="line-height: 100%">Pursuant to the requirements of the
  Securities Exchange Act of 1934, the Registrant has duly caused this report
  to be signed on its behalf by the undersigned thereunto duly authorized. <p align="right" style="line-height: 100%; margin-top: 0; margin-bottom: 0">


<p style="line-height: 100%; margin-top: 0; margin-bottom: 0">
                                        &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
                                        Ameron International Corporation<p style="line-height: 100%; margin-top: 0; margin-bottom: 0">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
  &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp; &nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
  Date: September 24, 2004 <TABLE width="668">
<TR>
<TD width="898" align="center">
<p style="line-height: 100%" align="left">
                                             <br>
                                             &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; By:&nbsp;&nbsp; /s/ Gary Wagner&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<br>
                                             &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
                                             ---------------------------------</p>

<p style="line-height: 100%">                                                           &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;
Gary Wagner&nbsp; <font size="1">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<br>
                                                            </font></font><font size="1">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></font><font size="1">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font size="2">Senior Vice President, Chief Financial Officer<i><font size="2"> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<br>
</font></i></p>

</font>

</TD>
</TR>
</TABLE>

<p align="center" style="line-height: 100%">&nbsp;</p>

<p align="center" style="line-height: 100%">&nbsp;</p>

<p align="center" style="line-height: 100%">&nbsp;</p>

<p align="center" style="line-height: 100%">&nbsp;</p>

<p align="center" style="line-height: 100%">&nbsp;</p>

<p align="center" style="line-height: 100%">&nbsp;</p>

<p align="center" style="line-height: 100%">&nbsp;</p>

<p align="center" style="line-height: 100%">&nbsp;</p>

<p align="center" style="line-height: 100%">&nbsp;</p>

<p align="center" style="line-height: 100%">&nbsp;</p>

<p align="center" style="line-height: 100%">&nbsp;</p>

<p align="center" style="line-height: 100%">&nbsp;</p>

<p align="center" style="line-height: 100%">&nbsp;</p>

<p align="center" style="line-height: 100%">&nbsp;</p>

<p align="center" style="line-height: 100%">&nbsp;</p>

<p align="center" style="line-height: 100%">&nbsp;</p>

<p align="center" style="line-height: 100%">&nbsp;</p>

<p align="center" style="line-height: 100%">&nbsp;</p>

<p align="center" style="line-height: 100%">&nbsp;</p>

<p align="center" style="line-height: 100%">&nbsp;</p>

<p align="center" style="line-height: 100%">&nbsp;</p>

<p align="center" style="line-height: 100%">&nbsp;</p>

<p align="center" style="line-height: 100%">&nbsp;</p>

  <p align="center" style="line-height: 100%">22</p>

<p align=center style='line-height: 100%'>&nbsp;<p style="line-height: 100%" align="right"><font size="2">Exhibit
  31.1&nbsp;</font><p style="line-height: 100%" align="center"><font size="2">SECTION 302
    CERTIFICATION OF CHIEF EXECUTIVE OFFICER&nbsp;</font><p style="line-height: 100%"><font size="2">I, James
  S. Marlen, Chairman of the
  Board, President and Chief Executive Officer of Ameron International
  Corporation (the
  &quot;Registrant&quot;), certify that:&nbsp;</font><p style="line-height: 100%"> <font size="2"> 1. I have reviewed this
  Quarterly Report on Form 10-Q of the Registrant;&nbsp;</font><p style="line-height: 100%"> <font size="2"> 2. Based on my knowledge, this
  report does not contain any untrue statement of a material fact or
  omit to state a material fact necessary to make the statements made, in light
  of the circumstances under which such statements were made, not misleading
  with respect to the period covered by this report;&nbsp;</font><p style="line-height: 100%"> <font size="2"> 3. Based on my knowledge,
  the financial statements, and other financial information included in this
  report, fairly present in all material respects the financial condition,
  results of operations and cash flows of the Registrant as of, and for, the
  periods presented in this report;&nbsp;</font><p style="line-height: 100%"> <font size="2"> 4. The Registrant's other certifying
  officer and I are responsible for establishing and maintaining disclosure
  controls and procedures (as defined in Exchange Act Rules 13a-15(e) and
  15d-15(e)) for the Registrant and have:&nbsp;</font> <blockquote>
    <p style="line-height: 100%"><font size="2">a) designed such disclosure controls
  and procedures, or caused such disclosure controls and procedures to be
  designed under our supervision, to ensure that material information relating
  to the Registrant, including its consolidated subsidiaries, is made known to
  us by others within those entities, particularly during the period in which
  this report is being prepared;&nbsp;</font><p style="line-height: 100%"> <font size="2"> b) evaluated the effectiveness of the
    Registrant's disclosure controls and procedures and presented in this report
  our conclusions about the effectiveness of the disclosure controls and
  procedures, as of the end of the period covered by this report based on such
  evaluation; and&nbsp;</font><p style="line-height: 100%"> <font size="2"> c) disclosed in this report any change in the
    Registrant's
  internal control over financial reporting that occurred during the Registrant's most recent fiscal quarter that has materially affected, or is
  reasonably likely to materially affect, the Registrant's internal control over
  financial reporting; and&nbsp;</font> </blockquote>
  <p style="line-height: 100%"> <font size="2"> 5. The Registrant's other certifying officer and I
  have disclosed, based on our most recent evaluation of internal control over
  financial reporting, to the Registrant's auditors and the audit committee of Registrant's board of directors (or persons performing the equivalent
  functions):&nbsp;</font> <blockquote>
    <p style="line-height: 100%"> <font size="2"> a) all significant deficiencies and material weaknesses in the
  design or operation of internal control over financial reporting which are
  reasonably likely to adversely affect the Registrant's ability to record,
  process, summarize and report financial information; and&nbsp;</font><p style="line-height: 100%"> <font size="2"> b) any fraud, whether
  or not material, that involves management or other employees who have a
  significant role in the Registrant's internal control over financial
  reporting.</font> </blockquote>
<p style="line-height: 100%">September 24, 2004<p style="line-height: 100%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <TABLE width="639">
<tr>
<TD width="869" align="center">
<p style="line-height: 100%" align="left"><br>
                                                    &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <font size="2">/s/ James S. Marlen </font>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp<br>
                                                    &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
                                                   ---------------------------------</p>

<p style="line-height: 100%">                                                      &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;<font size="2">James S. Marlen </font><font size="1">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<br>
</font><font size="1">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font size="2">Chairman of the Board, President &amp; Chief Executive
Officer<font size="1"> <i>&nbsp;</i> </font></p>

</font>

</TD>
</tr>
</TABLE>

<p style="line-height: 100%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <p style="line-height: 100%">&nbsp; <p style="line-height: 100%">&nbsp; <p style="line-height: 100%">&nbsp; <p style="line-height: 100%">&nbsp;<p align=center style="line-height: 100%">23<p align=center style="line-height: 100%">&nbsp;<p style="line-height: 100%" align="right"><font size="2">Exhibit
  31.2&nbsp;</font><p style="line-height: 100%" align="center"><font size="2">SECTION 302
    CERTIFICATION OF CHIEF FINANCIAL OFFICER&nbsp;</font><p style="line-height: 100%"><font size="2">I, Gary
  Wagner, Senior Vice President and Chief Financial Officer of Ameron
  International Corporation (the
  &quot;Registrant&quot;), certify that:&nbsp;</font><p style="line-height: 100%"> <font size="2"> 1. I have reviewed this
  Quarterly Report on Form 10-Q of the Registrant;&nbsp;</font><p style="line-height: 100%"> <font size="2"> 2. Based on my knowledge, this report does not contain any untrue statement of a material fact or
  omit to state a material fact necessary to make the statements made, in light
  of the circumstances under which such statements were made, not misleading
  with respect to the period covered by this report;&nbsp;</font><p style="line-height: 100%"> <font size="2"> 3. Based on my knowledge,
  the financial statements, and other financial information included in this
  report, fairly present in all material respects the financial condition,
  results of operations and cash flows of the Registrant as of, and for, the
  periods presented in this report;&nbsp;</font><p style="line-height: 100%"> <font size="2"> 4. The Registrant's other certifying
  officer and I are responsible for establishing and maintaining disclosure
  controls and procedures (as defined in Exchange Act Rules 13a-15(e) and
  15d-15(e)) for the Registrant and have:&nbsp;</font> <blockquote>
    <p style="line-height: 100%"> <font size="2"> a) designed such disclosure controls
  and procedures, or caused such disclosure controls and procedures to be
  designed under our supervision, to ensure that material information relating
  to the Registrant, including its consolidated subsidiaries, is made known to
  us by others within those entities, particularly during the period in which
  this report is being prepared;&nbsp;</font><p style="line-height: 100%"> <font size="2"> b) evaluated the effectiveness of the
    Registrant's disclosure controls and procedures and presented in this report
  our conclusions about the effectiveness of the disclosure controls and
  procedures, as of the end of the period covered by this report based on such
  evaluation; and&nbsp;</font><p style="line-height: 100%"> <font size="2"> c) disclosed in this report any change in the
    Registrant's
  internal control over financial reporting that occurred during the Registrant's most recent fiscal quarter that has materially affected, or is
  reasonably likely to materially affect, the Registrant's internal control over
  financial reporting; and&nbsp;</font> </blockquote>
  <p style="line-height: 100%"> <font size="2"> 5. The Registrant's other certifying officer and I
  have disclosed, based on our most recent evaluation of internal control over
  financial reporting, to the Registrant's auditors and the audit committee of Registrant's board of directors (or persons performing the equivalent
  functions):&nbsp;</font> <blockquote>
    <p style="line-height: 100%"> <font size="2"> a) all significant deficiencies and material weaknesses in the
  design or operation of internal control over financial reporting which are
  reasonably likely to adversely affect the Registrant's ability to record,
  process, summarize and report financial information; and&nbsp;</font><p style="line-height: 100%"> <font size="2"> b) any fraud, whether
  or not material, that involves management or other employees who have a
  significant role in the Registrant's internal control over financial
  reporting.</font> </blockquote>
<p style="line-height: 100%">September 24, 2004<p style="line-height: 100%">&nbsp;&nbsp;&nbsp;&nbsp; <TABLE width="643">
<tr>
<TD width="873" align="center">
<p style="line-height: 100%" align="left">
                                                   <br>
                                                   &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <font size="2">/s/ Gary Wagner</font>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<br>
                                                   &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
                                                   ---------------------------------</p>

<p style="line-height: 100%">                                                           &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <font size="2">Gary Wagner&nbsp;</font> <font size="1">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<br>
                                                            &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font size="1">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font size="2">Senior Vice President, Chief Financial Officer<i><font size="2"> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<br>
</font></i></p>

</font>

</TD>
</tr>
</TABLE>

<font size="2"><p style="line-height: 100%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<p style="line-height: 100%">&nbsp;<p style="line-height: 100%">&nbsp;<p style="line-height: 100%">&nbsp;<p style="line-height: 100%">&nbsp; <p align=center style='line-height: 100%'>&nbsp;<p align=center style='line-height: 100%'>24</font> <p align="center" style="line-height: 100%">&nbsp;</p>
<p style="line-height: 100%" align="right"><font size="2">Exhibit 32</font></p>
    <p align="center" style="line-height: 100%"><font size="2">CERTIFICATION
OF CHIEF EXECUTIVE OFFICER AND CHIEF FINANCIAL OFFICER PURSUANT TO 18 U.S.C.
ss.1350, AS ADOPTED PURSUANT TO SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002</font><font size="2">*</font></p>
<p style="line-height: 100%"><font size="2">In connection with the Quarterly
Report on Form 10-Q of Ameron International Corporation (the
&quot;Company&quot;) for the fiscal quarter ended August 29, 2004 as filed with
the Securities and Exchange Commission on the date hereof (the
&quot;Report&quot;), I, James S. Marlen, Chairman of the Board, President and
Chief Executive Officer of the Company and I, Gary Wagner, Chief Financial
Officer of the Company, certify, pursuant to 18 U.S.C. &sect;1350,
as adopted pursuant to &sect;906 of the Sarbanes-Oxley Act of 2002, that, to my
knowledge:</font></p>
<blockquote>
  <p style="line-height: 100%"><font size="2">1. The Report fully complies with
  the requirements of Section 13(a) or 15(d), as applicable, of the Securities
  Exchange Act of 1934; and </font></p>
  <p style="line-height: 100%"><font size="2">2. The information contained in
  the Report fairly presents, in all material respects, the financial condition
  and results of operations of the Company.</font></p>
</blockquote>
<p style="line-height: 100%">&nbsp;</p>
<TABLE width="440">
<tr>

<TD width="670" align="center">
<p style="line-height: 100%" align="left">
<font size="2">
<br>
By:&nbsp;&nbsp;&nbsp;&nbsp;/s/ James S. Marlen&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<br>
---------------------------------<br>
James S. Marlen &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<br>
Chairman of the Board, President &amp; Chief Executive Officer <br>
September 24, 2004</font></p>

</TD>
</tr>
</TABLE>

<TABLE width="440">
<tr>

<TD width="670" align="center">
<p style="line-height: 100%" align="left">
<font size="2">
<br>
By: /s/ Gary Wagner<br>
---------------------------------<br>
Gary Wagner
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<br>
Senior Vice President &amp; Chief Financial Officer <br>
September 24, 2004</font></p>

</TD>
</tr>
</TABLE>

<p style="line-height: 100%">&nbsp;</p>

<p style="line-height: 100%"><font size="2">* A signed original of this written
statement required by Section 906 has been provided to Ameron International
Corporation and will be retained by Ameron International Corporation and
furnished to the Securities and Exchange Commission or its staff upon request.</font></p>

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<p style="line-height: 100%" align="center">25</p>

<p style="line-height: 100%" align="center">&nbsp;</p>

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