<SUBMISSION>
<ACCESSION-NUMBER>0001104659-06-040945
<TYPE>8-K
<PUBLIC-DOCUMENT-COUNT>2
<PERIOD>20060609
<ITEMS>7.01
<ITEMS>9.01
<FILING-DATE>20060609
<DATE-OF-FILING-DATE-CHANGE>20060609
<FILER>
<COMPANY-DATA>
<CONFORMED-NAME>GEORGIA GULF CORP /DE/
<CIK>0000805264
<ASSIGNED-SIC>2810
<IRS-NUMBER>581563799
<STATE-OF-INCORPORATION>DE
<FISCAL-YEAR-END>1231
</COMPANY-DATA>
<FILING-VALUES>
<FORM-TYPE>8-K
<ACT>34
<FILE-NUMBER>001-09753
<FILM-NUMBER>06897783
</FILING-VALUES>
<BUSINESS-ADDRESS>
<STREET1>115 PERIMETER CENTER PLACE
<STREET2>STE. 460
<CITY>ATLANTA
<STATE>GA
<ZIP>30346
<PHONE>7703954500
</BUSINESS-ADDRESS>
<MAIL-ADDRESS>
<STREET1>115 PERIMETER CENTER PLACE
<STREET2>STE. 460
<CITY>ATLANTA
<STATE>GA
<ZIP>30346
</MAIL-ADDRESS>
</FILER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>a06-13546_48k.htm
<DESCRIPTION>CURRENT REPORT OF MATERIAL EVENTS OR CORPORATE CHANGES
<TEXT>
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<body lang="EN-US">

<div style="font-family:Times New Roman;">
 <div style="border:none;border-top:double windowtext 6.0pt;padding:0pt 0pt 0pt 0pt;"> <p style="border:none;margin:0pt 0pt .0001pt;padding:0pt;"></p> </div>

<p align="center" style="color:black;font-style:italic;margin:0pt 0pt 12.0pt;text-align:center;"><b><i><font size="5" color="black" face="Times New Roman" style="color:windowtext;font-size:18.0pt;font-style:normal;font-weight:bold;">UNITED STATES<br>
SECURITIES AND EXCHANGE COMMISSION</font></i></b><font size="5" color="black" face="Times New Roman" style="color:windowtext;font-size:18.0pt;"><br>
</font><b><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;font-style:normal;font-weight:bold;">Washington, D.C. 20549</font></b></p>

<p align="center" style="color:black;font-style:italic;margin:0pt 0pt 12.0pt;text-align:center;"><i><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">&nbsp;</font></i></p>

<p align="center" style="color:black;font-style:italic;margin:0pt 0pt 12.0pt;text-align:center;"><b><i><font size="5" color="black" face="Times New Roman" style="color:windowtext;font-size:18.0pt;font-style:normal;font-weight:bold;">FORM&nbsp;8-K</font></i></b></p>

<p align="center" style="color:black;font-style:italic;margin:0pt 0pt 12.0pt;text-align:center;"><b><i><font size="5" color="black" face="Times New Roman" style="color:windowtext;font-size:18.0pt;font-style:normal;font-weight:bold;">&nbsp;</font></i></b></p>

<p align="center" style="color:black;font-style:italic;margin:0pt 0pt 12.0pt;text-align:center;"><b><i><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;font-style:normal;font-weight:bold;">CURRENT REPORT</font></i></b></p>

<p align="center" style="color:black;font-style:italic;margin:0pt 0pt 12.0pt;text-align:center;"><i><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;font-style:normal;">&nbsp;</font></i></p>

<p align="center" style="color:black;font-style:italic;margin:0pt 0pt 12.0pt;text-align:center;"><b><i><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;font-style:normal;font-weight:bold;">Pursuant to Section&nbsp;13
or 15(d)&nbsp;of the Securities Exchange Act of 1934</font></i></b></p>

<p align="center" style="color:black;font-style:italic;margin:0pt 0pt 12.0pt;text-align:center;"><i><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;font-style:normal;">&nbsp;</font></i></p>

<p align="center" style="color:black;font-style:italic;margin:0pt 0pt 12.0pt;text-align:center;"><i><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;font-style:normal;">Date of Report
(Date of earliest event reported):&#160; <b><font style="font-weight:bold;">June&nbsp;9, 2006 (June&nbsp;9, 2006)</font></b></font></i></p>

<p style="color:black;font-style:italic;margin:0pt 0pt 12.0pt;"><i><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;font-style:normal;">&nbsp;</font></i></p>

<p align="center" style="color:black;font-style:italic;margin:0pt 0pt 12.0pt;text-align:center;"><b><i><font size="5" color="black" face="Times New Roman" style="color:windowtext;font-size:18.0pt;font-style:normal;font-weight:bold;">GEORGIA GULF CORPORATION</font></i></b><font size="5" color="black" face="Times New Roman" style="color:windowtext;font-size:18.0pt;font-style:normal;"><br>
</font><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;font-style:normal;">(Exact name of registrant as
specified in its charter)</font></p>

<p align="center" style="color:black;font-style:italic;margin:0pt 0pt 12.0pt;text-align:center;"><i><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;font-style:normal;">&nbsp;</font></i></p>

<div align="center">

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="31%" valign="top" style="padding:0pt .7pt 0pt .7pt;width:31.32%;">
  <p align="center" style="font-size:10.0pt;margin:0pt 0pt .0001pt;text-align:center;"><b><font style="font-weight:bold;">Delaware</font></b></p>
  </td>
  <td width="3%" valign="bottom" style="padding:0pt .7pt 0pt .7pt;width:3.02%;">
  <p style="margin:0pt 0pt .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="31%" valign="top" style="padding:0pt .7pt 0pt .7pt;width:31.32%;">
  <p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">1-09753</font></b></p>
  </td>
  <td width="3%" valign="bottom" style="padding:0pt .7pt 0pt .7pt;width:3.02%;">
  <p style="margin:0pt 0pt .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="31%" valign="top" style="padding:0pt .7pt 0pt .7pt;width:31.32%;">
  <p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">58-1563799</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="31%" valign="top" style="padding:0pt .7pt 0pt .7pt;width:31.32%;">
  <p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(State or other jurisdiction</font></p>
  </td>
  <td width="3%" valign="bottom" style="padding:0pt .7pt 0pt .7pt;width:3.02%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="31%" valign="top" style="padding:0pt .7pt 0pt .7pt;width:31.32%;">
  <p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(Commission File
  Number)</font></p>
  </td>
  <td width="3%" valign="bottom" style="padding:0pt .7pt 0pt .7pt;width:3.02%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="31%" valign="top" style="padding:0pt .7pt 0pt .7pt;width:31.32%;">
  <p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(IRS Employer</font></p>
  </td>
 </tr>
 <tr>
  <td width="31%" valign="top" style="padding:0pt .7pt 0pt .7pt;width:31.32%;">
  <p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">of
  incorporation)</font></p>
  </td>
  <td width="3%" valign="bottom" style="padding:0pt .7pt 0pt .7pt;width:3.02%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="31%" valign="top" style="padding:0pt .7pt 0pt .7pt;width:31.32%;">
  <p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="3%" valign="bottom" style="padding:0pt .7pt 0pt .7pt;width:3.02%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="31%" valign="top" style="padding:0pt .7pt 0pt .7pt;width:31.32%;">
  <p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Identification
  No.)</font></p>
  </td>
 </tr>
</table>

</div>

<p style="color:black;font-style:italic;margin:0pt 0pt .0001pt;text-indent:36.0pt;"><i><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">&nbsp;</font></i></p>

<p style="color:black;font-style:italic;margin:0pt 0pt .0001pt;text-indent:36.0pt;"><i><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">&nbsp;</font></i></p>

<div align="center">

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="48%" valign="top" style="padding:0pt .7pt 0pt .7pt;width:48.7%;">
  <p align="center" style="font-size:10.0pt;margin:0pt 0pt .0001pt;text-align:center;"><b><font style="font-weight:bold;">115 Perimeter Center Place, Suite&nbsp;460, Atlanta, GA</font></b></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt .7pt;width:2.6%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="48%" valign="top" style="padding:0pt .7pt 0pt .7pt;width:48.7%;">
  <p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">30346</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="48%" valign="top" style="padding:0pt .7pt 0pt .7pt;width:48.7%;">
  <p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(Address of
  principal executive offices)</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt .7pt;width:2.6%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="48%" valign="top" style="padding:0pt .7pt 0pt .7pt;width:48.7%;">
  <p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(Zip Code)</font></p>
  </td>
 </tr>
</table>

</div>

<p style="color:black;font-style:italic;margin:0pt 0pt 12.0pt;"><i><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;font-style:normal;">&nbsp;</font></i></p>

<p align="center" style="color:black;font-style:italic;margin:0pt 0pt 12.0pt;text-align:center;"><i><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;font-style:normal;">Registrant&#146;s
telephone number, including area code:&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <b><font style="font-weight:bold;">(770) 395 - 4500</font></b></font></i></p>

<p style="line-height:9.0pt;margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="color:black;font-style:italic;margin:0pt 0pt 12.0pt;text-align:center;"><i><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;font-style:normal;">(Former name or
former address, if changed since last report)</font></i></p>

<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Check the appropriate box
below if the Form&nbsp;8-K filing is intended to simultaneously satisfy
the filing obligation of the registrant under any of the following provisions:</font></p>

<p style="font-size:10.0pt;margin:0pt 0pt 12.0pt 27.0pt;text-indent:-27.0pt;"><font size="2" face="Wingdings" style="font-size:10.0pt;">o</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Written
communications pursuant to Rule&nbsp;425 under the Securities Act (17 CFR
230.425)</p>

<p style="font-size:10.0pt;margin:0pt 0pt 12.0pt 27.0pt;text-indent:-27.0pt;"><font size="2" face="Wingdings" style="font-size:10.0pt;">o</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Soliciting
material pursuant to Rule&nbsp;14a-12 under the Exchange Act (17 CFR
240.14a-12)</p>

<p style="font-size:10.0pt;margin:0pt 0pt 12.0pt 27.0pt;text-indent:-27.0pt;"><font size="2" face="Wingdings" style="font-size:10.0pt;">o</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Pre-commencement
communications pursuant to Rule&nbsp;14d-2(b)&nbsp;under the Exchange Act
(17 CFR 240.14d-2 (b))</p>

<p style="font-size:10.0pt;margin:0pt 0pt .0001pt 27.0pt;text-indent:-27.0pt;"><font size="2" face="Wingdings" style="font-size:10.0pt;">o</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Pre-commencement
communications pursuant to Rule&nbsp;13e-4(c)&nbsp;under the Exchange Act
(17 CFR&#160; 240.13e-4 (c))</p>


 <div style="border:none;border-bottom:double windowtext 6.0pt;padding:0pt 0pt 0pt 0pt;"> <p style="border:none;margin:0pt 0pt .0001pt;padding:0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p> </div>
</div><br><hr size="3" width="100%" noshade color="#010101" align="center">

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<div>
 <p style="margin:0pt 0pt .0001pt;text-align:center;"></p>

<p style="color:black;font-style:italic;margin:0pt 0pt 12.0pt;"><b><i><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;font-style:normal;font-weight:bold;">Item 7.01&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Regulation FD Disclosure.</font></i></b></p>

<p style="color:black;font-style:italic;margin:0pt 0pt 12.0pt;text-indent:20.0pt;"><i><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;font-style:normal;">Georgia Gulf
Corporation is filing this current report to provide a transcript of its
investor conference call held earlier today in connection with the company&#146;s
announcement of a definitive agreement to acquire Royal Group Technologies
Limited. A copy of the transcript is furnished as Exhibit&nbsp;99 hereto and
incorporated into this Item 7.01 by reference.</font></i></p>

<p style="color:black;font-style:italic;margin:0pt 0pt 12.0pt;"><b><i><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;font-style:normal;font-weight:bold;">Item 9.01&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Financial Statements and Exhibits.</font></i></b></p>

<p style="color:black;font-style:italic;margin:0pt 0pt 12.0pt;text-indent:20.0pt;"><i><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;font-style:normal;">(a)&#160; </font></i><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">Financial Statements of Business
Acquired.</font></p>

<p style="color:black;font-style:italic;margin:0pt 0pt 12.0pt;text-indent:40.0pt;"><i><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;font-style:normal;">Not applicable.</font></i></p>

<p style="color:black;font-style:italic;margin:12.0pt 0pt;text-indent:20.0pt;"><i><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;font-style:normal;">(b)&#160; </font></i><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">Pro
Forma Financial Information.</font></p>

<p style="color:black;font-style:italic;margin:12.0pt 0pt;text-indent:40.0pt;"><i><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;font-style:normal;">Not applicable.</font></i></p>

<p style="color:black;font-style:italic;margin:0pt 0pt 12.0pt;text-indent:20.0pt;"><i><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;font-style:normal;">(c)&#160; </font></i><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">Shell company transactions.</font></p>

<p style="color:black;font-style:italic;margin:0pt 0pt 12.0pt;text-indent:40.0pt;"><i><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;font-style:normal;">Not applicable.</font></i></p>

<p style="color:black;font-style:italic;margin:0pt 0pt 12.0pt;text-indent:20.0pt;"><i><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;font-style:normal;">(d)&#160; </font></i><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">Exhibits.</font></p>

<div align="center" style="font-family:Times New Roman;">

<table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse;">
 <tr>
  <td width="40" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt .7pt 0pt 0pt;width:30.0pt;">
  <p align="left" style="font-size:8.0pt;font-weight:bold;line-height:8.0pt;margin:0pt 0pt .0001pt;text-align:left;">Number</p>
  </td>
  <td width="13" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:10.0pt;">
  <p style="font-weight:bold;line-height:8.0pt;margin:0pt 0pt .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></b></p>
  </td>
  <td width="512" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt .7pt 0pt 0pt;width:383.8pt;">
  <p align="left" style="font-weight:bold;line-height:8.0pt;margin:0pt 0pt .0001pt;text-align:left;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;">Exhibit</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="40" valign="top" style="border:none;padding:0pt .7pt 0pt 0pt;width:30.0pt;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">99</font></p>
  </td>
  <td width="13" valign="top" style="padding:0pt .7pt 0pt 0pt;width:10.0pt;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="512" valign="top" style="border:none;padding:0pt .7pt 0pt 0pt;width:383.8pt;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Transcript of June&nbsp;9, 2006 conference call.</font></p>
  </td>
 </tr>
</table>

</div>

<p style="color:black;font-style:italic;margin:0pt 0pt 12.0pt;"><i><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">&nbsp;</font></i></p>

<br><hr size="3" width="100%" noshade color="#010101" align="center">

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 <p style="margin:0pt 0pt .0001pt;text-align:center;"></p>


<p style="font-weight:bold;margin:0pt 0pt 12.0pt;page-break-after:avoid;text-align:center;"><a name="_161051"></a><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">SIGNATURES<a name="Signatures_161043"></a></font></b></p>

<p style="color:black;font-style:italic;margin:0pt 0pt 12.0pt;text-indent:36.0pt;"><i><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;font-style:normal;">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.</font></i></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;font-family:Times New Roman;width:100.0%;">
 <tr>
  <td width="51%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:51.6%;">
  <p style="margin:0pt 0pt .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="48%" colspan="3" valign="top" style="padding:0pt .7pt 0pt 0pt;width:48.4%;">
  <p style="font-size:10.0pt;margin:0pt 0pt .0001pt;"><b><font style="font-weight:bold;">GEORGIA GULF CORPORATION</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="51%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:51.6%;">
  <p style="margin:0pt 0pt .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="48%" colspan="3" valign="top" style="padding:0pt .7pt 0pt 0pt;width:48.4%;">
  <p style="margin:0pt 0pt .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="51%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:51.6%;">
  <p style="margin:0pt 0pt .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="3%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:3.66%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:</font></p>
  </td>
  <td width="44%" colspan="2" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt .7pt 0pt 0pt;width:44.74%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">/s/ Joel I Beerman</font></p>
  </td>
 </tr>
 <tr>
  <td width="51%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:51.6%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" colspan="2" valign="top" style="padding:0pt .7pt 0pt 0pt;width:5.96%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Name:</font></p>
  </td>
  <td width="42%" valign="top" style="border:none;border-top:solid windowtext 1.0pt;padding:0pt .7pt 0pt 0pt;width:42.44%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Joel I. Beerman</font></p>
  </td>
 </tr>
 <tr>
  <td width="51%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:51.6%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" colspan="2" valign="top" style="padding:0pt .7pt 0pt 0pt;width:5.96%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Title:</font></p>
  </td>
  <td width="42%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:42.44%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Vice President, General Counsel and Secretary</font></p>
  </td>
 </tr>
 <tr height="0">
  <td width="386" style="border:none;"></td>
  <td width="27" style="border:none;"></td>
  <td width="17" style="border:none;"></td>
  <td width="317" style="border:none;"></td>
 </tr>
</table>

<p style="color:black;font-style:italic;margin:0pt 0pt 12.0pt;"><i><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">&nbsp;</font></i></p>

<p style="color:black;font-style:italic;margin:0pt 0pt 12.0pt;"><i><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;font-style:normal;">Date:&#160; June&nbsp;9, 2006</font></i></p>

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<SEQUENCE>2
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<DESCRIPTION>EX-99
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<div style="font-family:Times New Roman;">
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<p align="right" style="color:black;font-style:italic;margin:0pt 0pt 12.0pt;text-align:right;"><b><i><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;font-style:normal;font-weight:bold;">Exhibit&nbsp;99.1</font></i></b></p>

<p align="center" style="margin:0pt 0pt 12.0pt;text-align:center;"><b><font size="4" face="Times New Roman" style="font-size:14.0pt;font-weight:bold;">Georgia
Gulf Acquisition of</font></b><font size="4" style="font-size:14.0pt;"><br>
<b><font style="font-weight:bold;">Royal Group Technologies</font></b></font></p>

<p align="center" style="margin:0pt 0pt 12.0pt;text-align:center;"><b><font size="4" face="Times New Roman" style="font-size:14.0pt;font-weight:bold;">Investor
Conference Call</font></b></p>

<p align="center" style="margin:0pt 0pt 12.0pt;text-align:center;"><b><font size="4" face="Times New Roman" style="font-size:14.0pt;font-weight:bold;">June&nbsp;9,
2006</font></b></p>

</div><br><hr size="3" width="100%" noshade color="#010101" align="center">

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<p style="font-weight:bold;margin:0pt 0pt 12.0pt 10.0pt;page-break-after:avoid;text-indent:-10.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">Forward-Looking
Statements<a name="ForwardlookingStatements_155932"></a></font></b></p>

<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">This
presentation contains forward-looking statements subject to the &#147;safe harbor&#148;
provisions of the Private Securities Litigation Reform Act of 1995. These
forward-looking statements are based on management&#146;s assumptions regarding
business conditions, and actual results may be materially different. Risks and
uncertainties inherent in these assumptions include, but are not limited to:</font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 72.0pt;text-indent:-18.0pt;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Difficulties in integrating Royal Group&#146;s
business;</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 72.0pt;text-indent:-18.0pt;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Uncertainties as to timing and/or approval of
the transaction by Royal Group&#146;s stockholders;</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 72.0pt;text-indent:-18.0pt;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Uncertainties regarding timing of receipt of
regulatory approvals;</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 72.0pt;text-indent:-18.0pt;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Uncertainties relating to Royal Group&#146;s
business and liabilities;</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 72.0pt;text-indent:-18.0pt;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Uncertainties following completion of the
acquisition regarding operating efficiencies and competitive conditions;</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 72.0pt;text-indent:-18.0pt;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Changes in the general economy;</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 72.0pt;text-indent:-18.0pt;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Changes in demand for our products or
increases in overall industry capacity that could affect production volumes
and/or pricing;</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 72.0pt;text-indent:-18.0pt;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Changes and/or cyclicality in the industries
to which our products are sold;</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 72.0pt;text-indent:-18.0pt;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Availability and pricing of raw materials;</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 72.0pt;text-indent:-18.0pt;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Technological changes affecting production;</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 72.0pt;text-indent:-18.0pt;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Difficulty in plant operations and product
transportation;</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 72.0pt;text-indent:-18.0pt;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Governmental and environmental regulations;</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 72.0pt;text-indent:-18.0pt;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Other factors discussed in the Securities and
Exchange Commission filings of Georgia Gulf, including our annual report on Form&nbsp;10-K
for the year ended December&nbsp;31, 2005, and our subsequent reports on Form&nbsp;10-Q.</p>

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<p style="font-weight:bold;margin:0pt 0pt 12.0pt 10.0pt;page-break-after:auto;text-indent:-10.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">Non-GAAP Financial Measures<a name="NongaapFinancialMeasures_155945"></a></font></b></p>

<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Our
investors and we commonly use earnings before interest, taxes, depreciation and
amortization (&#147;EBITDA&#148;) as a measure of our ability to service our indebtedness.
EBITDA is not a measurement of financial performance under generally accepted
accounting principles in the United States (&#147;GAAP&#148;) and should not be
considered as an alternative to net income as a measure of performance or to
net cash flows provided by operations as a measure of liquidity. In addition,
our calculation of EBITDA may be different from the calculation used by other
companies and, therefore, comparability may be limited. We believe that the
closest GAAP measure of financial performance to EBITDA is net cash provided by
operating activities, which is a measure of liquidity. A reconciliateion of
EBITDA to net cash provided by operating activities has been provided on our
Web site at ggc.com under Investor Relations.</font></p>

<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">We
are unable to provide a reconciliation of 2006 and 2007 EBITDA for Royal Group
Technologies Ltd. to the nearest directly comparable GAAP financial measure,
cash flows from operations, as we are unable to quantify the impact of
announced divestitures, the timing of closing the acquisition, the timing of
business improvements resulting from the combination of Georgia Gulf and Royal
and the timing of other potential non-recurring charges.</font></p>

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<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="17%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:17.86%;">
  <p style="font-size:10.0pt;margin:0pt 0pt .0001pt;"></p>
  </td>
  <td width="2%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:2.98%;">
  <p style="margin:0pt 0pt .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="10%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:10.92%;">
  <p style="margin:0pt 0pt .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="2%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:2.98%;">
  <p style="margin:0pt 0pt .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="45%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:45.66%;">
  <p style="margin:0pt 0pt .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="2%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:2.98%;">
  <p style="margin:0pt 0pt .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="16%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:16.62%;">
  <p style="margin:0pt 0pt .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="17%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:17.86%;">
  <p align="right" style="margin:0pt 0pt .0001pt;text-align:right;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Georgia
  Gulf Corp.</font></b></p>
  </td>
  <td width="2%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:2.98%;">
  <p style="margin:0pt 0pt .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="10%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:10.92%;">
  <p align="right" style="margin:0pt 0pt .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">GGC</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:2.98%;">
  <p style="margin:0pt 0pt .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="45%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:45.66%;">
  <p align="right" style="margin:0pt 0pt .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Acquisition of Royal
  Group<br>
  Technologies Limited by<br>
  Georgia Gulf Corporation<br>
  Call</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:2.98%;">
  <p style="margin:0pt 0pt .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="16%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:16.62%;">
  <p align="right" style="margin:0pt 0pt .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Jun.&nbsp;9, 2006</font></p>
  </td>
 </tr>
 <tr>
  <td width="17%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:17.86%;">
  <p align="right" style="margin:0pt 0pt .0001pt;text-align:right;"><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;">Company<b><font style="font-weight:bold;">&#9650;</font></b></font></i></p>
  </td>
  <td width="2%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:2.98%;">
  <p style="margin:0pt 0pt .0001pt;"><b><i><font size="2" face="Times New Roman" style="font-size:1.0pt;font-style:italic;font-weight:bold;">&nbsp;</font></i></b></p>
  </td>
  <td width="10%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:10.92%;">
  <p align="right" style="margin:0pt 0pt .0001pt;text-align:right;"><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;">Ticker<b><font style="font-weight:bold;">&#9650;</font></b></font></i></p>
  </td>
  <td width="2%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:2.98%;">
  <p style="margin:0pt 0pt .0001pt;"><i><font size="2" face="Times New Roman" style="font-size:1.0pt;font-style:italic;">&nbsp;</font></i></p>
  </td>
  <td width="45%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:45.66%;">
  <p align="right" style="margin:0pt 0pt .0001pt;text-align:right;"><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;">Event
  Type&#9650;</font></i></p>
  </td>
  <td width="2%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:2.98%;">
  <p style="margin:0pt 0pt .0001pt;"><b><i><font size="2" face="Times New Roman" style="font-size:1.0pt;font-style:italic;font-weight:bold;">&nbsp;</font></i></b></p>
  </td>
  <td width="16%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:16.62%;">
  <p align="right" style="margin:0pt 0pt .0001pt;text-align:right;"><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;">Date<b><font style="font-weight:bold;">&#9650;</font></b></font></i></p>
  </td>
 </tr>
</table>

<p style="margin:0pt 0pt 12.0pt -20.4pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">MANAGEMENT DISCUSSION SECTION</font></b></p>

<p style="margin:0pt 0pt 12.0pt 10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Operator:&#160; Good morning ladies and
gentlemen. Thank you for standing by. Welcome to the Georgia Gulf Conference
Call. During the presentation all participants will be in a listen-only mode. After
the speakers&#146; remarks, you will be invited to participate in a
question-and-answer session. [Operator Instructions]. As a reminder ladies and
gentlemen this conference is being recorded today, June&nbsp;9th, 2006.</font></p>

<p style="margin:0pt 0pt 12.0pt 10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">I would now like to introduce today&#146;s speakers, Ed Schmitt, Chairman,
President, and CEO, and Jim Matthews, VP of Finance and CFO and Angie Tickle,
Manager, Investor Relations. Ms.&nbsp;Tickle, you may begin your conference.</font></p>

<div style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt 0pt 1.0pt 0pt;">

<p style="border:none;font-weight:bold;margin:12.0pt 0pt;padding:0pt;page-break-after:avoid;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">Angie
Tickle, Manager, Investor Relations</font></b></p>

</div>

<p style="margin:0pt 0pt 12.0pt 10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Thank you, Heather. Good morning, everyone. Thank you for joining our
conference call. Before we begin let me remind you that today&#146;s conference call
has an accompanying slide presentation that can be found on our website at
ggc.com under Investor Relations section. We will be using the slides to aid in
our discussion. Also before we get started I would like to refer you to the
information regarding forward-looking statements and non-GAAP financial
measures located on pages&nbsp;2 and 3 of our presentation.</font></p>

<p style="margin:0pt 0pt 12.0pt 10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">I will caution you that we will be making a number of forward-looking
statements during our discussion. As you know, in any business, projections and
assumptions about future events are subject to risks, and actual results may
differ from our current outlook. A list of factors which could affect future
results is included in our 2005 Form&nbsp;10-K, and any forward-looking
statements should be considered in light of those factors. Also we may refer to
certain non-GAAP financial measures. A reconciliation of each of those measures
to the most directly comparable GAAP measure has been provided on our website
at ggc.com under the Investor Relations section. Now I would like to introduce
today&#146;s speaker which we are listed on page&nbsp;4 of the presentation. First
Ed Schmitt Chairman, President and CEO of Georgia Gulf and Jim Matthews, Vice
President Finance and CFO of Georgia Gulf. Ed?</font></p>

<div style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt 0pt 1.0pt 0pt;">

<p style="border:none;font-weight:bold;margin:12.0pt 0pt;padding:0pt;page-break-after:avoid;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">Ed
Schmitt, Chairman, President and Chief Executive Officer, Georgia Gulf</font></b></p>

</div>

<p style="margin:0pt 0pt 12.0pt 10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Thank you, Angie. Good morning everyone. We would like to welcome you
all to our conference call announcing our intentions to acquire Royal Group
technologies for $13 Canadian per share. Before we begin let me provide you
with the outline of what we will talked about today. First I will quickly
provide you a brief overview of Georgia Gulf and Royal Group for those of you
on the line, who are less for me with the companies. Next I will discuss the
transaction we announced this morning and the rational and opportunities behind
it. Following my comments I will turn it over to Jim, he will discuss the
details of the transaction and I will close by commenting on some final steps
and then we will open the line up for question and answers.</font></p>

<p style="margin:0pt 0pt 12.0pt 10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">You should have a received a &#151; an outline with some slides and I will
refer to these slides for those who did &#151; did receive them. So, let&#146;s move to
slide #6 which shows the Georgia overview of revenue and EBITDA for 2005. 2.3
billion in revenue and 224 of EBITDA. If you look at the slide first of all
Georgia Gulf was founded in 1984. We are headquartered in Atlantic Georgia. We
publicly trade on the New York Stock Exchange under the symbol GGC. Georgia
Gulf and its subsidiaries engaged in a manufacture and marketing of chemical
products in North America.</font></p>


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<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0pt 0pt 12.0pt 10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Our sales were in the United States, Canada, Mexico, Europe and Asia. The
company&#146;s product lines include aromatics and chlorovinyls. We are an
integrated producer of commodity chemicals and polymers that consists primarily
of these 2 business segments. And as you can see, we are primarily a
chlorovinyls company, as 70% of our revenues and 100% of our EBITDA in 2005
came from this segment.</font></p>

<p style="margin:0pt 0pt 12.0pt 10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">I&#146;ll talk about our aromatic business just for a minute. Those products
are all chemical related they are cumene, phenol and acetone. This business
obviously will become less critical to Georgia Gulf&#146;s future. Therefore, I
think it&#146;s fair to say that we are not aware to this business the degree that
we once were.</font></p>

<p style="margin:0pt 0pt 12.0pt 10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">On the other hand the chlorovinyls business is the exciting part of the
businesses where the investments have occurred over the past years. This
business is a business that&#146;s &#151; that produces chemicals such as chlorine,
caustic soda, vinyl chloride monomer, polyvinyl chloride resins and compounds.</font></p>

<p style="margin:0pt 0pt 12.0pt 10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Now all of our products go into industry such as the construction,
renovation, engineering plastics, chemical intermediates, pharmaceuticals and
consumer products. In addition to these end-use applications the chlorovinyls
products are the basic materials used by Royal to manufacture their products,
which go into the building and construction markets.</font></p>

<p style="margin:0pt 0pt 12.0pt 10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">If you flip-over to the &#151; the next slide #7, you will see how this
chlorovinyls, all these products and chemicals sit together. This is the
classical way we found this business. We essentially start with natural gas and
salt. We dissolve the salt and water, run electric current through it, make
caustic and chlorine. We sell all of our caustic soda. Then chlorine is
transferred to make vinyl chloride monomer, which is the precursor to making
the poly vinyl chloride, which we would refer to as vinyl resins. You know this
we have the capacities of these chemicals in the low pipe. Somehow the vinyl
resin around 20% is transferred into our vinyl compounds business. The
remainder 80% is sold. We buy that half of our chlorine and we make that half
of chlorine and we also have some very favorable economics on ethylene, even
though we do purchase 100%.</font></p>

<p style="margin:0pt 0pt 12.0pt 10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Now, let&#146;s switch over and look at the Royal Group. The Royal group has
Canadian $1.7 billion of annual sales in 2005. The Royal Group was founded in
1970. It&#146;s headquartered in Toronto, Ontario. It publicly traded for the first
time in 1995 on the, 1994 excuse me, on the Toronto Exchange as under the
symbol, RYG. Then in 1996, it was listed on the New York Stock Exchange under
the same symbol. Over the past 30 years, the Royal has become the leading
manufacturer of polymer-based building products in North America. Their sales
are primarily in North America with additional operations in China, and several
joint ventures around the world. The company produces a broad line of hot
quality low manganese building and home improvement products and has strong
market positions within these various segments. Their core product lines
include custom profiles, which are used mainly in windows and doors, exterior
plating, which is mainly vinyl siding, pipe and pipe fittings and outdoor
storage products, decking fencing and railing, the equity cellular prim
products and window covers.</font></p>

<p style="margin:0pt 0pt 12.0pt 10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Royal has the #1 market position in North America for the rigid and
cellular vinyl windows and door profile market. About 28% market share which is
doubled its closest competitor. They are a leader in the US cellular molding. Now
cellular is not like cell phones. The cellular is a term given to sound PVC
which forms a very unique product that acts very much like wood in the
construction process. That have a #1 position in the Canadian vinyl siding and
accessories market and they are one of the top 4 in North America plastic fence
in rail market. They have also received several industry awards for innovation
including modular PVC outdoor storage buildings, soft touch PVC window
coverings and the cellular composite PVC decking and also the cellular window
systems and components. The Royal also owns &#163;400 million PVC resin production
facility in Sarnia, Ontario</font></p>


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<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0pt 0pt 12.0pt 10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">and they manufacture a series of chemical additives including
lubricants, stabilizers and modifiers at their plant North of Toronto. As of
12/31/05, Royal employed around 7800 people. Okay, so let&#146;s go to slide 9 and
we will talk about our strategy and how we &#151; how this all came to be.</font></p>

<p style="margin:0pt 0pt 12.0pt 10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">If you go back to the &#151; to when Georgia Gulf was formed through an LBO
of the chemical division of Georgia Pacific and then you look in 1991 where we
effectively paid all our debt down and refinanced the company. And then you
look at the period from around 1995 to 1998, where we bought around 12 million
shares on the market for around $360 million. In the meantime growing the
business modestly at about GDP growth, keeping our capital expenditures very
low, all of those activities were pretty much geared at returning cash and
equity to the shareholders.</font></p>

<p style="margin:0pt 0pt 12.0pt 10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">In 1998, with the plants being much older than when they were first &#151;
when the company was first started, the management team in place, which
includes me, began to believe that the shareholder would be better served by a
long term growth strategy. By the way, I am referring to slide 10 if you want
to if you want to focus on that &#151; on that. So the first acquisition we made was
downstream. It was North American Plastics, turned out to be a very &#151; financial
results of that business has turned out to be very good. It allows Georgia Gulf
to increase it&#146;s offerings of compound from the only one rigid which we were in
originally and we added flexible compounds. And about a 1.5 later, we acquired
CONDEA Vista, which was a significant producer at the time vinyl chloride
monomer and vinyl resins, again another downstream acquisition. Today we have
the opportunity to complete the integration from essentially the salt of the
earth to the fabricated products we sell these basic chemicals go into with
Royal Technologies Group.</font></p>

<p style="margin:0pt 0pt 12.0pt 10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">I will draw your attention to Slide 11 and say what was the rationale
for this. Well first of all, Royal is going to be a platform for growth in
vinyl products markets going forward. Georgia Gulf has superior integrated raw
materials and compounds technology and we have the supply. Royal has the
leading market position in a number of downstream products as I previously
mentioned. And we believe that combining Georgia Gulf&#146;s operational management
excellence with Royal Groups building products technology has the potential to
create the leading integrated vinyl building products company in North America
Bar None [ph]. With respect to the Georgia Gulf shareholder investment, scale
is essentially doubled for the company and the platform for present and future
earnings growth has been created. The shareholder value will increase as we
unlock and deliver the potential of this new combination.</font></p>

<p style="margin:0pt 0pt 12.0pt 10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">And let&#146;s turn to slide #12, and we&#146;ll talk a little bit about some
immediate improvements. If you look at where we&#146;re in 2007, EBITDA improvements
&#151; we are willing to take to the bank today, $64 million. And they will come
primarily from the 5 areas that I have outlined below. To leverage raw
materials purchases. What we are talking about there is if you &#151; if you know
that Georgia Gulf consumes about &#163;700 million of resin, remember that was the
20% that we don&#146;t sell. The Royal Group consumes about that much resin. Now
they make some of it roughly 4 to 5, 400 or so million pounds and they consume
&#163;200 million to &#163;300 million of vinyl-chloride monomer, I am sorry 400 million
tons of monomer that they make their PVC from then they buy the reminder of
their resin. All of that resin has to be compounded before we turn into those
great products they make. So, they effect, so Georgia Gulf now with Royal
attached basically has doubled their requirements for these additives which by
the way tend to be very expensive at times. While we are not betting this &#151; all
the synergies on beating up our suppliers there are certainly some money to be
saved by the volumes that we will now assume in North America we will probably
be the largest single consumer of these additives to make vital compounds and
Royal&#146;s products. In addition to that we have as I mentioned formulation
technology and resin technology that matched with the quality requirements of
Royal&#146;s building products. We will make a &#151; we will enhance the &#151; the quality
aspects of all of these products. So, we &#151; we believe that there is some
benefit in the &#151; in the commercial side with product offerings that we have
because when you match it with Royal&#146;s innovation I think you got a great match
there. Also the &#151; there are some savings in the formulations themselves due to
the &#151;</font></p>


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<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0pt 0pt 12.0pt 10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">our ability to make these formulas we can also optimize the
requirements of the ingredients that go into the formulas. We have that
technology and we know how to do it. So, we will save on the amount of these
additives that we have to buy.</font></p>

<p style="margin:0pt 0pt 12.0pt 10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">We are going to continue to rationalization that is currently occurring
within Royal. The Royal Group currently has what they refer to as a management
improvement plan which is much an overall effort to improve all aspects of the
company. There are some things that are being done right and there are some
things that we frankly disagree with and in this particular case there is some
rationalization that need to occur and when you take into account there is
additional resin plants and compound plants which Georgia Gulf owns that will
further benefit this program.</font></p>

<p style="margin:0pt 0pt 12.0pt 10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Along those same lines there are logistic savings because a number of
Royal&#146;s plants are located much closer to Georgia Gulf facilities and rather
than shipping a lot of this material out of Canada from one spot we will have
options to move basic materials to the plants that manufacture these building
products.</font></p>

<p style="margin:0pt 0pt 12.0pt 10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Also, there will be some further consolidation of some production
facilities, but important point to make here is that now the combination of
Georgia Gulf and Royal give us, both management teams, more options on coming
up with the most efficient way to deliver these building products to our
customers.</font></p>

<p style="margin:0pt 0pt 12.0pt 10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">In addition to that, there are some divestitures of real estate in some
of these businesses that is currently occurring within the management
improvement plan that Royal has executed. We think that there is a &#151; there is
up to $200 million or in excess of $200 million in 2007 of cash that could be
generated from these divestitures, which would go to paying down the debt.</font></p>

<p style="margin:0pt 0pt 12.0pt 10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Now, there is a cost to this $64 million and we are estimating that to
be a one-time charge of around $25 million or so.</font></p>

<p style="margin:0pt 0pt 12.0pt 10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">With that, I&#146;ll turn it over to Jim, and he will discuss some of the
financing aspects of the deal.</font></p>

<div style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt 0pt 1.0pt 0pt;">

<p style="border:none;font-weight:bold;margin:12.0pt 0pt;padding:0pt;page-break-after:avoid;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">James
T. Matthews, Chief Financial Officer, Vice President-Finance, and Treasurer</font></b></p>

</div>

<p style="margin:0pt 0pt 12.0pt 10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Thank you, Ed. If we flip-over to page&nbsp;14, we show a summary of
the transaction value. As Ed said we are offering $13 Canadian per share. With
approximately 95 million shares outstanding, this would be a total of about
US$1.1 billion of &#151; of US dollars. As of March&nbsp;31st, Royal had $491
million Canadian of debt outstanding. Part&nbsp;of this debt is denominated in
Canadian dollars and part of this debt is denominated in US dollars.</font></p>

<p style="margin:0pt 0pt 12.0pt 10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">We estimate this translates in total debt to US$433 million. So, adding
the value of the equity and the debt, total enterprise value is between US$1.5
and US$1.6 billion. As Ed just mentioned their plans to divest more business
within real estate, the proceeds from those divestitures along with cash from
operations could reduce their debt slightly between now and the transaction
closing date.</font></p>

<p style="margin:0pt 0pt 12.0pt 10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">On page&nbsp;15, we list several major points. First of all, we have
got committed financing for the transaction already in place. Second of all, we
plan to use only debt to finance the transaction. In another words, we are not
going to use any equity. And finally, the debt will be a combination of senior
secured debt along with senior unsecured debt and senior subordinated debt.</font></p>

<p style="margin:0pt 0pt 12.0pt 10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Before turning it back over to Ed, let me make one point that we don&#146;t
have listed on the chart. We are all very excited about this transaction for
many reasons. But one of those reasons is that we expect this transaction to be
accretive to earnings per share in 2007. Excluding one-time charges,</font></p>


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<p style="margin:0pt 0pt 12.0pt 10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0pt 0pt 12.0pt 10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">we expect that earnings per share accretion as a percentage will be in
the mid to high single digits. With that, I will turn it back over to Ed.</font></p>

<div style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt 0pt 1.0pt 0pt;">

<p style="border:none;font-weight:bold;margin:12.0pt 0pt;padding:0pt;page-break-after:avoid;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">Edward
A. Schmitt Chairman of the Board, President and Chief Executive Officer</font></b></p>

</div>

<p style="margin:0pt 0pt 12.0pt 10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Okay, thanks Jim. So, finally we would like to point out on page&nbsp;16,
some of our next steps in the process. But while we plan to &#151; to obviously
complete financing plan and then we will close the transaction following
approvals from Royal&#146;s shareholders as well as the receipt of regulatory
approvals. They include the Hart-Scott-Rodino review for the US as well as
Canada has the similar regulation and in addition Canada has something that
they call Investment Canada where we need to prove that the transaction that&#146;s
taking place is effectively good for Canada. I think we announced that the transaction
&#151; we are shooting for kind of a Septemberish [ph] type closing, if there is
anything we can do between the two companies and the regulators to improve that
time we will certainly be attempting to do that. So, now, Heather we will open
on up for questions.</font></p>


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<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">QUESTION AND ANSWER SECTION</font></b></p>

<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Operator:&#160; [Operator Instructions]. Your first question
comes from the line of Mike Judd with Greenwich Consultants.</font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;Q &#151; Michael Judd&gt;:</font></b>
Hi, good morning.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;A&gt;:</font></b> Hi
Mike.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;Q &#151; Michael Judd&gt;:</font></b>
Question about sort of the timing of this acquisition and given that the
housing market appears to be slowing down a bit, I guess up and hearing that in
particular the vinyl siding, part of the business is certainly little weaker. Could
you comment on how some of the various business segments that your new
acquisition and what&#146;s going on in some of the emphasis segment, whether its
windows, or profiles or whatever?&#160; I
appreciate that, thank you.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;A&gt;:</font></b>
Okay, Mike. Well, yes the housing market has slowed down a bit, but there&#146;s
still a number of new house are being build. But more importantly, you need to
consider the houses have already exists. But all if you look at the product
offerings, they are all in sustainable markets. There is plus market
penetration going on with PVC as we speak into wood replacement. There is
renovation going on. In addition to the new construction, we believe that the
housing market revolves with what it does today is a long-term very sustainable
place to be and we target markets. And that target markets, the target markets
offered attractive opportunities. And frankly in the end, it&#146;s a natural hedge
for Georgia Gulf&#146;s chemical business. We are not trying to necessary power
our&#160; sales to the housing market. In
stead as we tried to guide you in the past, it&#146;s a building and construction
market we are talking about. And you have to examine like you say remodeling as
well as it essentially comprises is roughly 55% of Royal&#146;s products. Also we
feel that the EBITDA growth is going to be driven by improvements in the business
so we are depending totally on the expense of the housing market alone.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;Q &#151; Michael Judd&gt;:</font></b>
And just secondly what do you expect the &#151; the combination of interest to be on
&#151; the various trenches of debt?</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;A &#151; James Matthews&gt;:</font></b>
Hi Mike its Jim. We haven&#146;t finalized our total financing packet but I would &#151;
for planning purposes say assume that about half of the debt &#151; the incremental
debt is going to be bank secured debt and that would be probably given the
current conditions maybe LIBOR plus 150 to 200 basis points and LIBOR I believe
is just over 5 maybe 5.2 or 5.3. On the other debt from the rest of it &#151; the
other half is the high yield and those markets right down should average
between senior unsecured and subordinated I would say an average of 8%.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;Q &#151; Michael Judd&gt;:</font></b>
Thank you.</p>

<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Operator:&#160; Your next question comes from the line of
David Silver with JP Morgan.</font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;Q &#151; David Silver&gt;:</font></b>
Yeah hi.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;A&gt;:</font></b> Hi
Dave.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;Q &#151; David Silver&gt;:</font></b>
Good morning. Ed I &#151;I kind of have maybe a broader perspective question from you.
I mean over the years that I followed Georgia Gulf I considered yourself and
the entire management to be an exceptionally careful steward of capital and
when I look at kind of how Georgia Gulf is stacked up here and how Royal Group
is. I guess just broadly you are paying more for Royal Group I guess then your
company is currently valued at. You guys have &#8356;3 billion of resin and BCM
[ph] capacity. Royal Group has &#8356;400 million I believe. I think you are
similar in terms of</p>


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<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">compounding your down
stream capacity. I guess &#151; I was just wondering if you could talk about where
the additional value you see in Royal Group, I am guessing you will see their
compounding business has inherently more valuable than maybe what you have, but
over the years, I mean, you just had not made acquisitions of this scale, the
smaller ones you had made been very good and I guess, I am just I am trying to
see you &#151; how you conceptualize where that additional value is?&#160; Thank you.</font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;A &#151; Edward Schmitt&gt;:</font></b>
Okay, well, initially the integration of the, I guess, the material chemicals,
material side will be some fertile ground to capture some improvements, but all
you have to do is pull out Royal&#146;s last annual report. And go back to the glory
days of Royal when they made north of 300, 350, 360 million EBITDA, 4 years in
a row. Their sales grow at about a 150 million or so less then they are today,
and then you try to characterize the cost that have increased around $450
million from those days till today. And you say, well, how much of that is due
to escalation of materials and how much is due to something else. Back in 2000,
Royal made north of $300 million EBITDA, in fact, the number was 378 million. And
at that time resin was at a peak price because that was right after we bought
CONDEA Vista, if you recall that. Georgia Gulf made $1 share 2 folds in a row
and then we &#151; we started bookings [ph] as I recall. Today resin is at a peak. Raw
&#151; raw materials such as ethylene and chlorine are about where they are today as
they were back then. Well I don&#146;t think Royal at that time consumes &#163;700
million, we&#146;ll just say they did and the differential to-date probably is on
the order of about $0.08 a pound. If you take those numbers in North Plymouth,
you came over $56 million. And you say what about additives. That&#146;s another raw
material. Okay well let&#146;s double the number. So now we are at a 120. So if I
set track to 120 from 450 or 440 I get what, 320 or 330?&#160; What&#146;s the explanation for that?&#160; I think the explanation has to do with how
the business is being run in terms of efficiencies and productivity and so on. Where
has Georgia Gulf been the strongest and where have you counted us all the time
you have known us. Leading in manufacturing, so I will see our operating
philosophy been very nicely to recover that EBITDA out of those costs. And that&#146;s
how in a macro sense we are going to bring this industry back to where 1 plus 1
is going to equal more than 2.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;Q &#151; David Silver&gt;:</font></b>
If I could just &#151; and that&#146;s great &#151; and if I could just clarify maybe your key
point, so in your &#151; in your slide presentation you cited maybe was it 64
million of EBITDA improvements but if I followed you correctly your ballparking
something like 150 million is that &#151; is that or to 200 even, I mean is that
what we should glean from &#151; from your answer there?</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;A&gt;:</font></b> I
would, first of all, let me say, we have &#151; we have done our due diligence on
the business and I like to say they have a management improvement plan, many
other things in the plan we agree with, there are some things I think we would
be more emphatic on trying to &#151; hope to the bottom-line. I&#146;m willing to tell
you today that we are &#151; we have identified initially $64 million. I wouldn&#146;t
argue with you if you suggest &#151; if you are suggesting that that might be
conservative what I&#146;m not willing to at this time state a hard number for
immediate improvement, and be disappointing down the road.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;A&gt;:</font></b>
Dave, let me turn in little bit. Part&nbsp;of your confusion might be because
you are using reported numbers. And you have to understand that Royal has gone
through a tremendous period here between the turnaround effort that the guys
are going through now and the lawsuits, and the restructuring, and you are
selling the company. They have incurred an incredible number of one-time
charges. And we of course unlike the general public have had a chance to review
those numbers, and to take through them a great link. Their management team and
employees has been very, very gracious about letting us go through all their
records and talking about their plans. And we have had a chance to make a
thorough assessment of that. So, while there might be one or two small
exceptions in terms of normalizing adjustments that we took exceptions and by
and large their write-on. And I don&#146;t think they have announced numbers
publicly and I have to respect that they are a public company, but yeah we are
looking at a run rate that&#146;s of right now, somewhere if</p>


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<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">you assume second, third
quarter kind of time period, U.S. dollars run about 160 million EBITDA
normalized.</font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;Q &#151; David Silver&gt;:</font></b>
Okay. Just, if I could just ask in another area, you have announced you are
adding a PVC resin facility you are going to be building. So I was wondering if
those plants are affected by this transaction. And secondly you talked longer
term about the desire to become more back integrated, maybe chlor-alkali or
ethylene. How do those could go smash with today&#146;s announcement?</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;A&gt;:</font></b>
Okay, well first of all, at the $100 million that we permitted to our PVC
business was a modernization for building a new kind of equipment inflakement
[ph] whose the return on that investment is justified while the reduction in
the cost it takes to make PVC from that try. Yes, if we run the old with the
new, we increase our capacities to &#8356;3.1 billion. The plant that Royal has
is strong is relatively old plant, that&#146;s currently operating. And we will have
to get in there and figure out the best way to utilize our existing capacity
along with their capacity. That move now shall be an overnight deal, but I
think that we feel get on top of that very quickly. Secondly you asked about
back to integration. We are trying to transform this company. Being serviced in
the chemical industry, where frankly, I&#146;ve been &#151; I&#146;ve been in this business
for 30 plus years. And, I&#146;ve watched the chemical industry take &#151; take the
slack between the oil companies and the consumer for a long time. Right now,
the chemical industry is eating all the energy in these products that are made
and consumed by the consumers, so that that price continues to be pretty
competitive to the global market. Georgia Gulf has made its investments in
chemicals. And, we are going to move into an area where we can capture some of
that value by going downstream in the building products. With respect to the
chlorine hold that we probably prefer to, there is still exists the opportunity
to maybe own or at least get some form of producer economic for another little
piece, chlorine supplier mean time, because building products is what our focus
is. We don&#146;t want to be in a situation where we&#146;re having to deal with a
caustic market that becomes long, because we have to cut back on our chlorine
requirement. So being totally integrated into a 100% of our chlorine
requirement going forward, it&#146;s probably not something that we will do now, and
really was not intending to do fast.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;Q &#151; David Silver&gt;:</font></b>
I appreciate it, thanks a lot Ed.</p>

<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Operator:&#160; Your next question comes from the line of
Robert Reitzes with Bear Stearns.</font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;Q &#151; Robert Reitzes&gt;:</font></b>
Yeah hi, thanks for taking the call. I want to follow-up on Mr.&nbsp;Silver&#146;s
question. I&#146;m, I got a bunch of numbers that go back about 8 years Ed, and on
Royal. And again, I can&#146;t breakout what&#146;s what, and I apologize for it. But I,
the 160 EBITDA averaging, that wouldn&#146;t be much higher than they it was last 3
years. According to the numbers I am seeing, I mean they must have had even
enormous and I read in the 10-K that they have, there is some legal
problem with the government in Canada. So, could you flush them out and just &#151;
I mean charge is that much, I mean I just can&#146;t, I guess and then figure on the
back of the envelop is going to cost you $120 million to &#151; to finance this
thing and the way it looks is that last year alone, they and even &#151; they had
nowhere near the, they are like $100 million of EBITDA and I don&#146;t know what
the charges were but it just looks like it is very difficult the numbers?</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;A&gt;:</font></b>
Well, last year, I think yeah &#151; I&#146;m looking at what they call their operating
margin?</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;Q &#151; Robert Reitzes&gt;:</font></b>
Right.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;A&gt;:</font></b> And
if you look at how their &#151; they are subtracting out D&amp;A, which should run
around 20 million there?</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;Q &#151; Robert Reitzes&gt;:</font></b>
Yeah, 137. But go ahead.</p>


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<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;A&gt;:</font></b>
Basically, the way &#151; the way they are keeping their books are &#151; they have all
their SG&amp;A and COGS in their cost of sales in operating as so effective
that operating margin is their EBITDA.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;Q &#151; Robert Reitzes&gt;:</font></b>
Okay good. Again its &#151; it&#146;s a very &#151; just a way the numbers I see on the fact
that I am using is a little confusing. But even some of their revenue line
looks like its declining. Is that due to cyclicality [ph] of that &#151; that can&#146;t
be regardless of anything of else that the first quarter looks like the revenue
line was 290 which is down from a year ago. Is there any reason for that?</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;A&gt;:</font></b> I
thought revenues were up around &#151; over from &#151; from north of 300, 350&#133;</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;Q &#151; Robert Reitzes&gt;:</font></b>
Okay.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;A&gt;:</font></b> Like
that.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;Q &#151; Robert Reitzes&gt;:</font></b>
Okay. This is US dollars. Okay.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;A&gt;:</font></b>
Okay. Yeah okay US, we&#146;re going to, if we get mixed up, you asked something &#151;
Canadian company, U.S. and the Canadian conversion. You know&#133;</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;Q &#151; Robert Reitzes&gt;:</font></b>
No, I just remember, you guys, it looks like they were down 10% or about the
same, the revenue line was like, it was about 10%.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;A &#151; James T. Matthews&gt;:</font></b>
Well, keep in mind they have some divestitures.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;Q &#151; Robert Reitzes&gt;:</font></b>
Okay.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;A &#151; James T. Matthews&gt;:</font></b>
In some business already.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;A &#151; Edward Schmitt&gt;:</font></b>
There is also some rationalization, as part of their management improvement
plan, they are rationalizing unprofitable customers. So, bear that in mind,
it&#146;s &#151; the bottom line is more important than the top line. Much frankly, there
has been some distraction, again, they have been doing a lot; they have been
defending themselves against lawsuits, they have been restructuring their
company since for sales&#133;</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;Q &#151; Robert Reitzes&gt;:</font></b>
Right.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;A &#151; Edward Schmitt&gt;:</font></b>
[indiscernible] of the wall and that&#146;s understandable.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;Q &#151; Robert Reitzes&gt;:</font></b>
Can you just, I guess, let me also one easy question in terms of train [ph],
because I think it&#146;s going to be hard for me to pick you the numbers, is
business improving there or staying the same in your business and their
business that are &#151; how would you just categorize business right now. Because
we are hearing I think the PVC prices are little softer and weakness and how &#151;
I just like to hear your comments on their business and your business as kind
of general statement.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;A &#151; James T. Matthews&gt;:</font></b>
Okay, we had a good first quarter and Royal in fact having a pretty descent
quarter, for the second quarter. Their business is &#151; their, certain parts of
their business is doing very well and there is other parts that they are having
a little problem with. I will agree with you that from the period of early 2000
to now, there has been significant growth in a number of the markets that Royal
is in that they have not captured.</p>


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<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;Q &#151; Robert Reitzes&gt;:</font></b>
Okay.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;A &#151; James T. Matthews&gt;:</font></b>
Certainly that is an area where we intend to &#151; we recapture their market share.
I think that one of the things that&#146;s going to physically change in the process
that are to happen, again, going back to something that I am sure because it&#146;s
chemistry related and lot of financing people don&#146;t connect with that, but this
formulation and the cost &#151; often the cost of the materials that are required to
make these products should capture some margin for the new&#133;</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;Q &#151; Robert Reitzes&gt;:</font></b>
Okay, I think I have taken enough time. Thanks for your help.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;A &#151; Edward Schmitt&gt;:</font></b>
All right.</p>

<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Operator:&#160; Your next question comes from the line of
Frank Mitsch with BB&amp;T.</font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;Q &#151; Frank Mitsch&gt;:</font></b>
All right, good morning folks.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;A&gt;:</font></b>
Frank.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;A&gt;:</font></b> Hi
Frank.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;Q &#151; Frank Mitsch&gt;:</font></b>
Just wondering &#151; I just want to clarify some of the numbers that you guys were
just drawing around, so normalized EBITDA in Royal is about 160 million, is
that correct?</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;A &#151; James T. Matthews&gt;:</font></b>
Well, let me go back, the lawyers in the room are trying to get me from &#151; might
be not to give forward-looking statements. So, let&#146;s go back and let&#146;s talk
about 2005 and I think, it was Robert the previous question answered, was tying
into 73.3 as the operating margin, which would be the same as their EBITDA. So,
based upon that, as well as my previous comment Frank, you can conclude it has
a tremendous number of normalizing adjustments here. Some of which have been
spelled out in Royal&#146;s annual report and some of which haven&#146;t, but just to
give you a ballpark of the order magnitude we are talking about here in terms
of all of the write-downs, for all the assets that they were planning to put up
for sale and all the one-time charges that related to distending of a lawsuit,
but more importantly some very big numbers relating to consulting cost. Those
numbers come up to around $120 million and so, you can&#146;t &#151; if you rely on the
public information alone without the numbers that we&#146;ve had access to, then you
would be grossly understating their potential.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;Q &#151; Frank Mitsch&gt;:</font></b>
All right. So, you&#146;re saying that the unusual were roughly a 120 million. They
reported 73, as they are really looking at a 190 million as the clean number
for &#145;05?</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;A&gt;:</font></b> That
would be Canadian, the number I mentioned earlier was US.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;Q &#151; Frank Mitsch&gt;:</font></b>
All right, so, roughly US 160. The D&amp;A was did you just mentioned that
D&amp;A was about a 100 plus?</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;A&gt;:</font></b> No,
I don&#146;t think anybody sized the number for &#151; for that. It&#146;s roughly 90, I think.
Okay, in terms of historical.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;A&gt;:</font></b> 2005
was 119 Canadian.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;Q &#151; Frank Mitsch&gt;:</font></b>
All right, it&#146;s a call, &#151; all right, it&#146;s a call at 100 million roughly D&amp;A.
Bob just talked and I agree with roughly a 110 million, 120 million in interest
cost from this transaction. I&#146;m trying to &#151; to understand why 2007, what &#151; what
sort of assumptions you are using that that &#145;07</p>


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<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">could be accretive by
this transaction. Obviously, you have got 60 somewhat million in synergies, but
that doesn&#146;t look like it&#146;s &#151; it&#146;s going to be enough?</font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;A&gt;:</font></b> Bear
with us.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;A&gt;:</font></b> Yeah,
I&#146;m &#151; I&#146;m not sure, I want to go through all the detail in the accretion. Let
me just look at the detail and think how I want to approach that for a second
Frank. Why don&#146;t we circle back that in a couple of second that &#151; I&#146;ve had a
chance to review this schedule that we have got in front of me.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;Q &#151; Frank Mitsch&gt;:</font></b>
I&#146;m sorry.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;A&gt;:</font></b> I
said that I rely with you that we will circle back.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;Q &#151; Frank Mitsch&gt;:</font></b>
Absolutely, that&#146;s fantastic. Have you received expressions or ventures in your
aromatics business?</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;A&gt;:</font></b> We
are, no.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;Q &#151; Frank Mitsch&gt;:</font></b>
Okay. But that is something that as you&#146;ve said you are not aware to so,
someone, if someone were interested it would make sense that Georgia Gulf is
going to focus on the core vinyl business obviously with this transaction,
aromatics is not as important as it is, as it has been in the past. So, so you
we can look for another &#151; perhaps it is release at some point there. Lastly is
there breakup fee for this transaction?</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;A&gt;:</font></b>
Yeah.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;Q &#151; Frank Mitsch&gt;:</font></b>
If the deal doesn&#146;t go through you owe Royal some money?</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;A&gt;:</font></b> Yes
various provisions, the breakup fees are very small relative to other
transactions.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;Q &#151; Frank Mitsch&gt;:</font></b>
Okay, all right terrific. Thank you.</p>

<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Operator:&#160; Your next question comes from the line of
David Troyer with Credit Suisse.</font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;Q &#151; David Troyer&gt;:</font></b>
Hi couple of questions regarding the 718 existing bonds, is your intention
believe those are in place or do you have the capability given the kind of pro
forma capital structure to you are in place today?</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;A&gt;:</font></b> It
appears that we&#146;ll be in fact and enable &#151; we will in fact be able leave those
in place.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;Q &#151; David Troyer&gt;:</font></b>
Okay and then on the Royal Group MTNs, I am just not as familiar with this, is
there change of control provision in this?</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;A&gt;:</font></b> I am
not aware there some make hold provisions or make hold announcement we&#146;ve baked
into this and I am not aware of this specific answer to question.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;Q &#151; David Troyer&gt;:</font></b>
Do you think you will be able to leave those outstanding?</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;A&gt;:</font></b> The
assumption is we will not be able to.</p>


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<p style="margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;Q &#151; David Troyer&gt;:</font></b>
Okay and then finally have &#151; have you alerted the rating agencies or have you
spending time with the rating agencies about the &#151; about the transaction and
did they have initial comments.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;A&gt;:</font></b>
There should be press releases from the rating agency coming out, yes and I
have spoken with all 3 of the rating agencies then I would expect them to put
us on credit watch with a negative outlook possibly, until they get further
detail. We are trying to meet with them shortly to discuss more detail.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;Q &#151; David Troyer&gt;:</font></b>
Okay thank you.</p>

<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Operator:&#160; Your next question comes from the line of
John Helms [ph] with Org Capital Market.</font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;Q&gt;:</font></b> You
guys just answered my questions. I appreciate it. Thank you.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;A&gt;:</font></b>
Thank you.</p>

<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Operator:&#160; Your next question comes from the line of
Thomas DiBella with Turner Investment.</font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;Q &#151; Thomas DiBella&gt;:</font></b>
Hi, I have 2 questions. First the &#151; are you going to hedge any of the currency
difference there or&#133;?</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;A &#151; Edward Schmitt&gt;:</font></b>
Yes, that&#146;s most of you are probably aware the Canadian dollar has been
strengthening pretty significantly relative to the U.S. dollar over the last
year or so. And the outlook of most of our forecast is for continued
strengthening, so I think we would be realistic [ph] if we didn&#146;t and in fact
we are well along the way of doing that now. The last week with the fed
announcements and some of the news on commodity pricing has actually
strengthened the dollar just a little bit versus the Canadian dollar, so we are
trying to take advantage of that. So yes, we planned to do that.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;Q &#151; Thomas DiBella&gt;:</font></b>
Okay, it seems me to that looking at the questions you are getting and
everything. obviously it seem like the move is not question so much as the
price in what you paid and what you are going to get out of that, obviously you
stock is down here. But, $64 million, that&#146;s only 4% of the purchase price that
you are going to save in the first year and I would think with all of the nice
things you have been saying about, how much there is to save that the first
year you grab the low hanging fruit, and the low hanging fruit is like 4% of
the price and then what happens in the second year and the third year. I would
think that you would have to have a lot bigger number on that second year to
make this, to make this work. Any comment on that?</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;A &#151; Edward Schmitt&gt;:</font></b>
Only that &#151; there are some &#151; in 2007 there are 6. There are some continuing
one-time charges that will be eliminated roughly shortly, until Georgia Gulf
becomes a full the owner of that. That will only be influenced throughout the
current management team.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;Q &#151; Thomas DiBella&gt;:</font></b>
So it would be unusual to think that the second year pick up in EBITDA could be
2 times the 2007 number or 3 times the 2007 number?</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;A &#151; Edward Schmitt&gt;:</font></b>
Certainly possible. I mean focus back &#151; what was this company able to do 3 or 4
years ago.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;Q &#151; Thomas DiBella&gt;:</font></b>
Right.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;A &#151; Edward Schmitt&gt;:</font></b>
The markets they are in are just good today as they were then. There are &#151; you
compare the growth in these markets to the chemical markets, I mean it&#146;s
totally different.</p>


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<p style="margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;Q &#151; Thomas DiBella&gt;:</font></b>
Right. I think that everyone do not disagreeing that you had a pretty good
record and this is probably not a bad deal in terms of what you are doing, but
I think the question is the price. I mean, you &#151; I know the stock was heading
down, so this is not a great analysis that stick is up 40%, you offered a price
35, 40% more than the closing price the day before. You know you could have
saved your $64 million the first year, by just offering them $0.70 less and the
stock would be only about 34%, I think you could get the people to sell their
stock and were up 34%, so that&#146;s kind of the question here, is the price you
are saying, so going forward it seem tome that you have to communicate to the
Street what you are doing with the numbers and that will be in a little bit
more precise manner, I realized in the first day and you probably you don&#146;t
have all the numbers yourself, but it seems to me that going forward, you are
going to lay out why this is such a good deal, because on the first plans its
the stretch in terms of the numbers.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;A &#151; Edward Schmitt&gt;:</font></b>
Okay, we may be able to do that, but we are a very marbled. You are talking
about 2 public companies here. And we don&#146;t for ourselves in a position of
talking for the Royal Group, currently still running their company. Down the
road, hopefully, surely, we can work out something where we can a little more
explicit and help the investor understand what we see. Jim, do you want to add
anything.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;A &#151; James T. Matthews&gt;:</font></b>
Yeah, I think I try them. We have had the advantage of lot of due diligence had
the advantage of building this kind of cash flow model, I realized that metric
is like EBITDA multiples and premium to current prices are &#151; are more common
easy way to look at things. If you think about their stock price, it was
drifting down for about the week before the announcement was made on varying
volume that&#146;s probably not&#133;</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;Q &#151; Thomas DiBella&gt;:</font></b>
Okay.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;A&gt;:</font></b>
Meaningful it&#146;s perhaps looking back over a 12-week average</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;Q &#151; Thomas DiBella&gt;:</font></b>
Right.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;A&gt;:</font></b> Or
even a 52-week average, and if you look at&#133;</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;Q &#151; Thomas DiBella&gt;:</font></b>
Okay.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;A&gt;:</font></b> The
12-week average that would be 30% premium. You do have to pay controlled
premiums of prior company you know&#133;</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;Q &#151; Thomas DiBella&gt;:</font></b>
Sure.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;A&gt;:</font></b> Then
for a 52-week average which might be the more meaningful because their
stock has openly traded a lot of them. The owners have brought &#151; have held for
a long time but that would only be 14% premium. So our view is that we didn&#146;t
get a bargain basement price, but we didn&#146;t pay for this company. The price we
got was a fair price and has a very meaningful upside for the Georgia Gulf
shareholders.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;Q &#151; Thomas DiBella&gt;:</font></b>
Right, well I &#151; I would agree that $8 is kind of an high price to you, but it&#146;s
the most recent price and it&#146;s that people look at first.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;A&gt;:</font></b> You
are right. I think $9 to $10 price is probably a fair price to get in terms of &#151;
in terms of the price you pay for.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;A&gt;:</font></b> Well
we agree on something.</p>


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<p style="margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;Q &#151; Thomas DiBella&gt;:</font></b>
Okay.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;A&gt;:</font></b> Any
other questions?</p>

<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Operator:&#160; Your next question comes from the line of
Andrew White with Ameritas.</font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;Q &#151; Andrew White&gt;:</font></b>
Yes. My question was similar to the question on the MTM, but Royal Group has a
fairly significant amount of private placement debt with the covenants in that
debt because you have to repay those also?</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;A&gt;:</font></b> We
are assuming that we are going to have to refinance all of the room debt for
our current planning purposes, and we have assumed some make hold our tender
premiums for that.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;Q &#151; Andrew White&gt;:</font></b>
Okay, thank you very much.</p>

<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Operator:&#160; Your next question comes from the line of
Gregg Goodnight with UBS.</font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;Q &#151; Gregg Goodnight&gt;:</font></b>
Hi, yes. Little clarification on your platform monetization it sounded to be
the way you answered that question is that you were reconsidering the expansion
of &#151; of the PVC capacity. Is that correct?</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;A&gt;:</font></b> No.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;Q &#151; Gregg Goodnight&gt;:</font></b>
Okay. So you&#146;ll pick up approximately &#163;400 million of additional PVC capacity
now from Sarnia?</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;A&gt;:</font></b>
Yeah, that&#146;s correct.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;Q &#151; Gregg Goodnight&gt;:</font></b>
Where were your sourced that VCM from?</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;A&gt;:</font></b> Well
contracts.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;Q &#151; Gregg Goodnight&gt;:</font></b>
Okay.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;A&gt;:</font></b> They
are currently purchasing VCM from other people.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;Q &#151; Gregg Goodnight&gt;:</font></b>
And, and you &#151; you couldn&#146;t sale those contracts and internally source VCM
could you?</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;A&gt;:</font></b> We
are not &#151; I don&#146;t want to get into that because I mean there was contracts are
in place and obviously there are competitive to Georgia Gulf. So, we will have
to just deal with that going forward.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;Q &#151; Gregg Goodnight&gt;:</font></b>
Okay. The second question, the Sarnia plant did you do an environmental
assessment on the plant, and how would be typify the &#151; the risks and what &#151;
what guarantees if any do you have?</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;A&gt;:</font></b> Well
we have no guarantee because I mean we are going to own it. And that&#146;s in the
leave, leave live build it with. But we have assessed it and relative to the
environment risk that you maybe thinking about Sarnia are fine.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;Q &#151; Gregg Goodnight&gt;:</font></b>
Okay. No worries there?</p>


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<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;A&gt;:</font></b> No.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;Q &#151; Gregg Goodnight&gt;:</font></b>
Okay. I guess the bulk of my other questions that have been asked. It does seem
like a pretty fair premium to pay for this. Here it&#146;s about a $350 million
premium and you can justify that with what you believe the inherent
efficiencies car [ph] segments are there?</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;A&gt;:</font></b> That&#146;s
the plan.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;Q &#151; Gregg Goodnight&gt;:</font></b>
Okay, okay thank you.</p>

<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Operator:&#160; Your next question comes from the line of
Daniel Gotvald with UBS O&#146;Connor.</font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;Q &#151; Daniel Gotvald&gt;:</font></b>
Hi good afternoon, good morning. The question on the cash proceeds, the 209 in
cash proceeds, you said it will be a combination of real estate and some
business divestitures. Jim, if you could give a mix on how much of that is real
estate, how much is divestitures, and also any color on what businesses you
might sell?</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;A &#151; James Matthews&gt;:</font></b>
Okay, hold on that. We will break out the schedule for you.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;Q &#151; Daniel Gotvald&gt;:</font></b>
And then the second question on the businesses that you are selling, how much
in EBITDA will you be selling, how much in EBITDA you will be losing in the
sales?</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;A &#151; James Matthews&gt;:</font></b>
Okay, let me answer you first question in terms of the mix for divestiture
businesses versus divestiture real estate, its roughly 50-50.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;Q &#151; Daniel Gotvald&gt;:</font></b>
Okay, thanks.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;A &#151; James Matthews&gt;:</font></b>
And the &#151; there are number of businesses, I will let Ed comment on the EBITDA. But
there are businesses that had negative EBITDA and those were the first priority
for whether it&#146;s the existing Royal management team or Georgia Gulf team.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;A &#151; Edward Schmitt&gt;:</font></b>
Yeah, I don&#146;t have to say this, and I don&#146;t think, I think the current Royal
management, also recognizes, a business has, say multiple product sample. Not
all of those products are unprofitable. There could be a, why you might just
sort of selling a business, there could be products that would be salvaged out
of that business, that may end up in another business. So to say, that there
will be 8 business sold at this particular time, I mean went after it, prepared
to call that sharp, but in all, no I am saying not all, the majority of the
Royal product offerings, that are good products in all of them. And like I say,
they are some crowned jewels certainly the moldings and win the profile segment
is a crowned jewel of the company.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;Q &#151; Daniel Gotvald&gt;:</font></b>
But do you guys are making assumption, it sounds like that you have 100 million
in cash proceeds from divestitures. I&#146;m just wondering how much in EBITDA net,
I mean, I understand some might be losing money, some are making money, but
what is the net EBITDA that you&#146;ll be selling and also what sort of assumption
are you making on in a multiple sales or multiple of the EBITDA to get to that
100 million estimate?</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;A&gt;:</font></b> If
you think back the numbers, we mentioned already, those are net of any divested
businesses. The numbers we are giving you are for a ongoing businesses, the 160
and the 64, to get you to 224 are net of any divestitures.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;Q &#151; Daniel Gotvald&gt;:</font></b>
No.&nbsp;I was talking about cash proceeds?</p>


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<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;A&gt;:</font></b> Can
you say your question again then please?</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;Q &#151; Daniel Gotvald&gt;:</font></b>
You have on the slide, you had 200 million in expected cash proceeds from a
combination of real estate sales and business divestitures.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;A&gt;:</font></b>
Fine.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;Q &#151; Daniel Gotvald&gt;:</font></b>
You earlier said that, it was 50:50 roughly between real estate and business
divestitures which implies that business is to be about 100 million cash
proceeds. So, my question was on making assumptions that half of it is, half of
the cash coming indoors from business divestitures, what is the implied EBITDA
are you selling there and what sort of implied revenue multiples and EBITDA
multiples, are you making on this sales?</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;A&gt;:</font></b> Sure.
Yeah, I don&#146;t want to get into the detail on the EBITDA for those businesses. Some
of those businesses will be sold to joint venture partners. Some will be sold
as for asset value rather than for EBITDA value. I think it&#146;s just better not
to get into the EBITDA numbers for that that could affect our negotiating or
actually Royal&#146;s negotiating stance in terms of making those divestitures.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;Q &#151; Daniel Gotvald&gt;:</font></b>
Okay, thank you.</p>

<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Operator:&#160; Your next question comes from the line of
Russell Jones with RBC.</font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;Q &#151; Russell Jones&gt;:</font></b>
Yeah, hi. Can you just confirm what&#146;s going to happen to the Royal Group now
that the Royal Group Company now and will Royal Group Technology acts as a
guarantor for any new debts or existing debts as part of this transaction?</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;A &#151; Edward Schmitt&gt;:</font></b>
The debt will be at the Georgia. I mean that will be at the Georgia Gulf level.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;Q &#151; Russell Jones&gt;:</font></b>
Thanks. Do you anticipate that being guaranteed by Royal Group?</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;A &#151; Edward Schmitt&gt;:</font></b>
The picture [ph] that will be backed by all the assets in Georgia Gulf Corporation
which will include the assets of Royal Group.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;Q &#151; Russell Jones&gt;:</font></b>
Okay, thank you.</p>

<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Operator:&#160; Your next question comes from the line of
Wynn Wing [ph] with Millenium Partners.</font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;Q&gt;:</font></b>
Hello.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;A&gt;:</font></b>
Hello.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;A&gt;:</font></b> Yes.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;Q&gt;:</font></b> Hi. Thanks
for taking my call. How does you get comfortable with the regulatory
investigation status?&#160; It looks like they
got whole bunch both in the U.S. and kind of that?</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;A &#151; Edward Schmitt&gt;:</font></b>
Well, we certainly have experts review, these lawsuits and so on and
investigations and &#151; and given our &#151; given that their best guess as to the
outcome of those investigations, we put a number of dollars as far as potential
liability as a, I don&#146;t call it a value, but a cost of those investigations.</p>


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<p style="margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;A &#151; James T. Matthews&gt;:</font></b>
There are actually outfits out there that specialize in this and I was
surprised that their ability to &#151; they are pretty sophisticated. So, they can
get a better handle on these numbers than you might imagine. So, we feel pretty
comfortable about that.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;Q&gt;:</font></b> So,
you baked in the potential liability in your &#151; in your price.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;A&gt;:</font></b> Yes.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;Q&gt;:</font></b>
Okay.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;A&gt;:</font></b> That
is correct, exactly.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;Q&gt;:</font></b> And
then if something were to happen between now and close, do you, do you have an
ability to get out of this transaction?</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;A&gt;:</font></b> In
terms of, I can&#146;t &#151; I can&#146;t imagine that situation occurring. As the standard
classes in terms of material adverse conditions and so forth and other than
that I don&#146;t want to get into any detail.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;Q&gt;:</font></b>
Okay, all right. Thank you.</p>

<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Operator:&#160; Your next question comes from the line
[indiscernible] with Goldman Sachs.</font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;Q&gt;:</font></b> Hi,
good morning. Two questions, first Ed, can you talk about what level of, what&#146;s
size customer Royal might be today of Georgia Gulf from your output?</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;A &#151; Edward Schmitt&gt;:</font></b>
For today, we are based in our supplier to them. We launch there, but we are
not today.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;Q&gt;:</font></b> And
so, I&#146;m just curious from a logistics standpoint, if you are not, they&#146;re
already. Do you think there will be swaps with those, who are spying on today
or you actually ship your product from your plants into their facilities?</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;A &#151; Edward Schmitt&gt;:</font></b>
Well that&#146;s certainly one of the things that we are going to have some
interesting discussions with maybe as early as next week.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;Q&gt;:</font></b> Okay.
Then you mentioned you&#146;re pride to become the biggest buyers some of these
high-priced additives, you mentioned you have taken a peak at some of their
internal stocking. Can you give me some sense of what variation there might be
between purchased prices that your company as might be paying and so how much
were overhanging, and just comparing pricing, you might get low hanging up
savings?</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;A &#151; Edward Schmitt&gt;:</font></b>
I don&#146;t want to plant any seeds in &#151; in the future negotiations that we are
going to have with &#151;with folks who supply these. But we do know that &#151; that we
have certain formulations that have been casted [ph] in Royal that are less
expensive than their current prices for these and addition to that we will not
say additives, it would probably blow your mind to realize how many different
chemicals we are talking about. It&#146;s not like 1, 2, or 3, there is a whole
assortment and array of these different additives or waxes or lubricants and so
on stabilizers and even different &#151; a mixtures of those ingredients all having
different prices, so to give you one number that kind of fits &#151; fits all it&#146;s
impossible to do. It&#146;s going to be, we will have to deal with each one of them
individually but it&#146;s fair to say that a nice chunk of the low hanging fruit is
in this area.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;Q&gt;:</font></b> And
given the customized nature of those of their wide multitude of products, how
quickly can you make a change of these products that required long-term
contracts because there is not a big</p>


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<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">buyer base for them or
these things that you&#146;re paying on a monthly basis as soon as the deals closing
quickly make adjustments?</font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;A&gt;:</font></b> I
would say that the majority of these are not long-term contracts they are short
terms, so I think the change can be pretty rapid.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;Q&gt;:</font></b>
Great, thank you.</p>

<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Operator:&#160; Your next question comes from the line of
Seth Harvey with UBS.</font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;Q &#151; Seth Harvey&gt;:</font></b>
Good afternoon.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;A&gt;:</font></b>
Seth.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;Q &#151; Seth Harvey&gt;:</font></b>
How is it going?&#160; These are the few
questions, let&#146;s trying to clarify what you&#146;re seeing on this synergies. You
have the 64 millions target, is that &#151; or is that an upside to that when are
you kind of plan to hit that in the first year?</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;A&gt;:</font></b> 64
is the number for 2007, there is upside, but we are not going to give any
details 64 is the number that we are going with for that. Let me clarify at
this point, Frank Mitsch was kind enough to give us time, and I wanted to take
whether I wanted to give that information out or not, but let me go ahead and
give you that. So, you are taking 160 that I mentioned earlier and you add 64
to it. So that is one benchmark for you in terms of running rate for 2007. The depreciation
number frankly she is what&#146;s from last year I believe and there is the step
down in the depreciation over the next couple of years. So I would use a number
maybe just south of 98 million for that and these are in the US dollars that I
am referring now. And then incremental on that interest type, I can&#146;t remember
the number that Frank mentioned. I think he might have been a little bit high
but I would give the number closer to 110, maybe slightly over 110 but not much
higher. So that should help Frank and others out there they are trying to get
back to the accretion calculation.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;Q &#151; Seth Harvey&gt;:</font></b>
Thanks, question just a follow-up what I heard previously, you had said or you
didn&#146;t want to answer that the Aromax is out there, is this just an asset that
is potentially up for divestment?</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;A&gt;:</font></b> We &#151;
yes I mean from the standpoint of its criticality to the future of Georgia Gulf
its not as critical and it&#146;s so long was actually talking to us about it, we
would be open to those discussions.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;Q &#151; Seth Harvey&gt;:</font></b>
I think that&#146;s it.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;A&gt;:</font></b>
Okay.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;Q &#151; Seth Harvey&gt;:</font></b>
Thanks.</p>

<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Operator:&#160; Your next question comes from the line of Ari
Hirt with Lawrence Partners.</font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;Q &#151; Ari Hirt&gt;:</font></b>
Yes hi, thank you. Most my questions have been asked, one question its in terms
of the financing is there any &#151; is the deal conditioned on &#151; on receiving
financing. So as the financing arrangements that are presently committed for
some reason fall through, can&#133;</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;A&gt;:</font></b> We
have got committed demand to that and&#133;</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;Q &#151; Ari Hirt&gt;:</font></b>
So, the deal, there are no financial conditions?</p>


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<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;A&gt;:</font></b> It&#146;s
just usually customary condition for example this &#151; in terms of our financing
commitment, the only kind of example of how we are &#151; if they were doomsday
scenario, the material adverse condition and as far as I remember even 9/11
didn&#146;t affect for that. We got solid financing in place and in terms of asking
you question really [indiscernible]...</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;Q &#151; Ari Hirt&gt;:</font></b>
Okay, what about the &#151; the accounting investigation, did that affect the
financing?</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;A &#151; Edward Schmitt&gt;:</font></b>
No, we&#146;ve gone through that and that&#146;s an issue all &#151; I can&#146;t give specific
about things involved in the finance &#151; the banks who are involved have had
plenty of opportunities to do substantial things [ph].</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;Q &#151; Ari Hirt&gt;:</font></b>
Okay great and then on earlier, earlier invention that you can imagine a
scenario where the accounting investigation would effect a breakup, is that, is
that because of the potential liability that you&#146;ve already assumed that you
think that covers that or is it because of just of the timing and the nature of
the deal that, you don&#146;t think any results of the investigation had happen
prior?</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;A &#151; Edward Schmitt&gt;:</font></b>
I think you need to get more specifics out investigation you are referring to
because there is different loading of, probably to be more specific.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;Q &#151; Ari Hirt&gt;:</font></b>
Just referring to all the different accounting increase that are currently
happening?</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;A &#151; Edward Schmitt&gt;:</font></b>
Well, we are actually referring to the SEC letter they had, they had delayed
their financials, but to my knowledge it is that all being good and that I
wonder also with the &#151; another one you can turn [ph].</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;Q &#151; Ari Hirt&gt;:</font></b>
To Canadian?</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;A &#151; Edward Schmitt&gt;:</font></b>
Yeah, okay. If you are referring really to the global issue in terms of all the
different lawsuits and the related party of transactions maybe.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;Q &#151; Ari Hirt&gt;:</font></b>
Great.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;A &#151; Edward Schmitt&gt;:</font></b>
Those actions are all in the past, this straight event and they are basically
behind us. And so, there is an earlier terms quantification we have a good
handle on that, that&#146;s not an issue for us going.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;Q &#151; Ari Hirt&gt;:</font></b>
Okay, great thank you.</p>

<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Operator:&#160; Next question comes form the line of
Christopher Miller with JP Morgan.</font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;Q &#151; Christopher Miller&gt;:</font></b>
Just one quick follow-up question on the existing bonds is there any reason you
are seeing the covenants that the existing Georgia Gulf bonds would have to be
secured as well along with the bank that ratably bills remain unsecured.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;A&gt;:</font></b> It&#146;s
our impression at this time that they will remain unsecured. I don&#146;t want to
give a 100% answer, because we are still doing some investigation, but it&#146;s our
impression that they&#146;ll remain unsecured.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;Q &#151; Christopher Miller&gt;:</font></b>
Okay. Thank you very much.</p>

<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Operator:&#160; Your next question comes from the line of
Bill MacKenzie with TD Securities.</font></p>

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<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;Q &#151; Bill MacKenzie&gt;:</font></b>
Thank you. First question, just in terms of the breaks that you mentioned that
slow relative to cement [ph] and transactions assuming number will actually
will get close I was wondering could you give us how [ph] talked about works are
in terms of with the numbers?</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;A&gt;:</font></b> No,
it&#146;s not something that&#146;s material factor if you are going to worry about
valuing the transaction or valuing the stock of either company. So, we are not
getting into that.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;Q &#151; Bill MacKenzie&gt;:</font></b>
Okay. And are there any lockup agreements that you have with any of the
existing shareholders forever?</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;A&gt;:</font></b> No
we do not.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;Q &#151; Bill MacKenzie&gt;:</font></b>
Okay great. And then in terms of the $64 million of EBITDA improvement, I
certainly we can break that down between sort of what how much of that were
related to initiatives that we are currently included in existing management
improvement plan versus how much of that would be from synergies that the over
and above what Royal could realize as owned by combined with Georgia Gulf?&#160; And just to clarify that 64 million, I
believe you said its US dollar number.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;A&gt;:</font></b> It
is US, yeah. Lets see the, that I will give it to you an order, certainly the
raw materials utilization and leverage is at 15, 25%, the compound technology
and resin formulation is slightly less than that maybe 18%. Then you have
business, rationalization of the business portfolio is about 15%. Then you have
shipping cost improvements around 11% or 12% and then consolidation of
production facilities less than 10%.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;Q &#151; Bill MacKenzie&gt;:</font></b>
Okay, so it&#146;s fair to say just going through that and certainly over half of
that were our synergies that of cost savings initiatives that Royal would not
have been able to realize?</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;A&gt;:</font></b> That&#146;s
correct.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;Q &#151; Bill MacKenzie&gt;:</font></b>
That&#146;s one given in the plan that management had in place?</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;A&gt;:</font></b> That&#146;s
correct. And you&#146;re &#151; you&#146;re hitting on a key point here. What we&#146;ve been
trying to speak to is what we know, we can do there is, there is a parallel
plant going on now of what Royal management thinks they can do. But we are
referring from talking about that because it&#146;s not under our control.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;Q &#151; Bill MacKenzie&gt;:</font></b>
Okay, could you get on that point a little bit, I mean, I was wondering, you
just mentioned that in earlier and you mentioned that there were certain
components to management improvement plan that you guys don&#146;t agree with us. I
was wondering if you could add a little bit more color on your views on &#151; on
that?</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;A&gt;:</font></b> No I
am not going to get into that.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;Q &#151; Bill MacKenzie&gt;:</font></b>
Okay, all right well that&#146;s it. Thanks.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;A&gt;:</font></b>
Okay.</p>

<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Operator:&#160; Your next question comes from the line of
Maryana Kushnir with Nomura Assets Management.</font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;Q &#151; Maryana Kushnir&gt;:</font></b>
Well hey, I have 2 questions. First would you expect the pro forma cash taxes
for the company to be?&#160; And also second,
with all the litigation I understand the number of</p>


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<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">these things were &#151; were
settled but the cash perhaps still hasn&#146;t been spend?&#160; So, what are the expected cash outlays for
the litigation?</font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;A &#151; James Matthews&gt;:</font></b>
Let me start by your tax question, and Ed can on the other one. First of all,
all of the issues there is a lot of restructuring, a minimizing the effective
fixed, has you might have imagine with a Canadian company that owns US entities
and acquired by a US company. Being taxed whenever there is a repatriation of
fund from the US to Canada to the US creates, that&#146;s know in the tax jargon as
the sandwich affect and so I would trust that. Other issues are relates to how
best to maximize the cash credits. Any purposes I would suggest that for the
moment if you are looking at an incremental effective tax rate for the
incremental assets that we&#146;re acquiring here is something in the mid-40s.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;Q &#151; Maryana Kushnir&gt;:</font></b>
Would that&#146;s the effective tax rate how about &#151; what percentage of that would
be deferred?</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;A&gt;:</font></b> I
miss to say the cash tax rate.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;Q &#151; Maryana Kushnir&gt;:</font></b>
Would be mid-40?</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;A&gt;:</font></b> Yes,
now bare in mind that there is a lot of opportunities here in terms of net
operating losses that there is about 85 net operating losses and about 18. So,
without getting specific about there is &#151; we never &#151; the company gets acquired
on how many of those NOLs can be taken in a single year. So, we are &#151; our best
to optimize that as quickly as possible. So, I guess I have to stick for right
now. I don&#146;t mean to avoid your effective or the cash tax rate but have to
stick rate in the cash, and I use the number around 44, 45 for the incremental.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;A&gt;:</font></b> And
with respect to cash outlay on these litigation.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;A&gt;:</font></b> We
think it should be low. But let me say that Royal is handing all these
litigation right now not Georgia Gulf and very uncomfortable of talking how to
scoop with them in controlling this process.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;Q &#151; Maryana Kushnir&gt;:</font></b>
Okay thanks.</p>

<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Operator:&#160; Your next question comes from the line of
Jeff Cianci with UBS.</font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;Q &#151; Jeffrey Cianci&gt;:</font></b>
Hi guys, just a follow-up, one thing maybe wasn&#146;t that from your accretion
calculation simply put what is your outlook for the business in &#145;07?&#160; Do you have sales rising in a normalized
rate?&#160; Do you have sales where they are
today?&#160; Do you have resin prices
flat?&#160; And surely, some of that must go
into your thinking when you do the calculation?</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;A&gt;:</font></b> One
minute.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;Q &#151; Jeffrey Cianci&gt;:</font></b>
Okay.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;A&gt;:</font></b> We
have sales flat, combined sales flat.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;Q &#151; Jeffrey Cianci&gt;:</font></b>
Okay. And resin margins?</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;A &#151; James Matthews&gt;:</font></b>
I don&#146;t &#151; I don&#146;t know Ed that we want to get into that kind of lead. Obviously,
we&#146;ve given a lot of thoughts on this and have a lot of detail here. But yet
realize there is a lot of constituents on the phone call including suppliers
and customers and competitors and we would prefer not to get into that &#151; that &#151;
that level of detail.</p>


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<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;Q &#151; Jeffrey Cianci&gt;:</font></b>
Yeah.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;A &#151; James Matthews&gt;:</font></b>
And remember the value that we are going to bring forth in this one plus one is
equal more than two is in the management of the company with respect to costs
and so on. So, only a fraction of it is going to be affected by resin prices
and things that you used to get a basic review from in Georgia Gulf previous
conference calls.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;Q &#151; Jeffrey Cianci&gt;:</font></b>
Thanks.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;A &#151; James Matthews&gt;:</font></b>
Okay.</p>

<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Operator:&#160; Your next question comes from the line of
Michael Emerald with Longfellow Investment.</font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;Q &#151; Michael Emerald&gt;:</font></b>
Specifically, is there a condition that says anything about the investigations
have to give result to certain way?</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;A &#151; James Matthews&gt;:</font></b>
No.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;Q &#151; Michael Emerald&gt;:</font></b>
And next question, I think the agreements that that we &#151; the press release
mentioned shareholders spoke in July, I think you said you&#146;ll expect to close
in Septemberish [ph]. Where is the delay, what needs to be done?</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;A &#151; James Matthews&gt;:</font></b>
Well as Ed mentioned earlier, we will close as early as permitted. There is a
number of regulatory steps that have to be jumped through here in terms of
Investment Canada, Hart-Scott-Rodino and so forth. So, it&#146;s possible that we can
close earlier. So we are trying to get ourselves a little bit efficient here.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;Q &#151; Michael Emerald&gt;:</font></b>
Okay. Well my experience with those regulators that you mentioned is they &#151;
they shouldn&#146;t take as long as devote itself. So if you got Investment Canada
or Competition Canada, or Hart-Scott-Rodino, then would you expect to close
shortly after the meeting?</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;A &#151; James Matthews&gt;:</font></b>
Its &#151; we don&#146;t want to &#151; we won&#146;t address that&#146;s a little a bully way here. But
yeah we have got Hart-Scott-Rodino but Canada Competition Act, Canada
Investment Act and shareholder vote and like we say, if those things get done
earlier then there is the possibility of closing earlier.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;Q &#151; Michael Emerald&gt;:</font></b>
And is &#151; does any financing need to be done following the shareholders vote of
can it all be put in place beforehand?</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;A&gt;:</font></b> We
are maintaining our flexibility on that issue. As you probably know, there is
better client in the market than others to go to the market. So, we are
maintaining our flexibility on that.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;Q &#151; Michael Emerald&gt;:</font></b>
Okay, and also I take it you are going to do a road show?</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;A&gt;:</font></b>
There will be a road show, yes.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;Q &#151; Michael Emerald&gt;:</font></b>
Okay, thank you very much.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;A&gt;:</font></b>
Okay.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;Q &#151; Michael Emerald&gt;:</font></b>
Bye.</p>


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<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Operator:&#160; Your next question comes from the line Shay D&#146;souza
[ph] with Blackmont Capital.</font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;Q&gt;:</font></b> Oh,
actually my questions were again to do with the share lockup, the break fee,
and I think they are already answered and again on the close as well. Thank
you.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;A&gt;:</font></b>
Thank you.</p>

<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Operator:&#160; Your next question comes from the line of
Richard O&#146;Reilly with Standard&nbsp;&amp; Poor&#146;s.</font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;Q &#151; Richard O&#146;Reilly&gt;:</font></b>
Hi, good afternoon gentlemen. I hate to ask Jim this question again but I was
confused by your EBITDA margin, the 7.3% number, I am trying to look their
annual report and I just don&#146;t see that type of calculation?</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;A &#151; James Matthews&gt;:</font></b>
Actually I don&#146;t think I quoted, I think Ed might have quoted in&#133;</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;Q &#151; Richard O&#146;Reilly&gt;:</font></b>
Okay.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;A &#151; James Matthews&gt;:</font></b>
Ed, if you want to pull nose down.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;A &#151; Edward Schmitt&gt;:</font></b>
Just a second, and I say 7.3?</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;Q &#151; Richard O&#146;Reilly&gt;:</font></b>
I see a $73 million number?</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;A &#151; James Matthews&gt;:</font></b>
That was there, okay, it was not their percentage it was their operating margin.
That&#146;s absolute dollars. So, 73.292 Canadian.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;Q &#151; Richard O&#146;Reilly&gt;:</font></b>
Is there EBITDA?</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;A &#151; James Matthews&gt;:</font></b>
That wouldn&#146;t be basically their EBITDA for 2005.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;Q &#151; Richard O&#146;Reilly&gt;:</font></b>
Right, okay.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;A &#151; James Matthews&gt;:</font></b>
Any normalized we talk in terms of a number of roughly $120 million that you
cap on top of that.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;Q &#151; Richard O&#146;Reilly&gt;:</font></b>
Okay, fine. I don&#146;t &#151; I see it different. I see them referring them to a
slightly smaller number, I believe, but do you think&#133;</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;A &#151; James Matthews&gt;:</font></b>
I am looking at bid Annual Report and for the 12-month ended December&nbsp;31st,
2005 their operating margin was 73.292 million.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;Q &#151; Richard O&#146;Reilly&gt;:</font></b>
Right, okay. Okay, and you think that&#146;s after one-time unusual of 120 million?</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;A &#151; James Matthews&gt;:</font></b>
Yes.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;Q &#151; Richard O&#146;Reilly&gt;:</font></b>
Okay, fine. Now I understand. Okay, thank you.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&lt;A &#151; James Matthews&gt;:</font></b>
Thank you.</p>

<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Operator:&#160; At this time, the Q&amp;A session has now
ended. Thank you for participating in today&#146;s Georgia Gulf conference call. This
call will be available for replay beginning 2:00 PM Eastern Time today through
11:59 PM Eastern Time on June&nbsp;23rd, 2006. The conference ID number for the</font></p>


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<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">replay is 1532033. Again
the conference ID number for the replay is 1532033. The number to dial-in for
the replay is 1800-642-1687 or 706-645-9291.</font></p>

<p style="margin:0pt 0pt 12.0pt;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Disclaimer</font></b></p>

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