Patrick Industries, Inc. Announces New Amendment to Its Credit Agreement

ELKHART, Ind., Dec. 22, 2010 /PRNewswire-FirstCall/ — Patrick Industries, Inc.
(Nasdaq: PATK) announced today that it has entered into a fifth amendment (the
“Fifth Amendment”) to its senior secured credit agreement dated May 18, 2007
(the “Credit Agreement”). The Fifth Amendment includes the modification of
certain definitions, terms and reporting requirements and extends the revolving
termination date and term maturity date of the Company’s existing senior secured
credit facility and related term loan to May 31, 2011 to allow a new facility to
be put in place to meet both short-term and long-term operating needs.

Pursuant to the Fifth Amendment entered into on December 17, 2010, financial
covenants were modified to reflect the Company’s updated operating and cash flow
projections. Borrowings under the revolving line of credit, subject to a
borrowing base up to a maximum borrowing limit of $28.0 million, and the
interest rates for borrowings under the revolving line of credit and the term
loan of the Credit Agreement, remained unchanged.

“We are pleased to have entered into this amendment and extension of our Credit
Agreement while we continue our efforts to refinance or replace our existing
credit facility in the first half of 2011. We are also very appreciative of the
support that our senior lenders have continued to provide and the strong
relationship we have with each of them. The significant progress we have made in
strategically positioning our business model has taken a total team effort, and
is a reflection of the continued support of our banking group, customers,
suppliers, shareholders, and team members as we head into the new year,” stated
Todd Cleveland, President and CEO.

About Patrick Industries

Patrick Industries, Inc. (www.patrickind.com) is a major manufacturer of
component products and distributor of building products serving the recreational
vehicle, manufactured housing, kitchen cabinet, household furniture, fixtures
and commercial furnishings, marine, and other industrial markets and operates
coast-to-coast through locations in 12 states. Patrick’s major manufactured
products include decorative vinyl and paper panels, wrapped profile mouldings,
cabinet doors and components, interior passage doors, slotwall and slotwall
components, and countertops. The Company also distributes drywall and drywall
finishing products, electronics, adhesives, wiring, electrical and plumbing
products, cement siding, interior passage doors, roofing products, laminate
flooring, and other miscellaneous products.

Forward-Looking Statements

This press release contains certain statements related to future results, or
states our intentions, beliefs and expectations or predictions for the future,
which are forward-looking statements as that term is defined in the Private
Securities Litigation Reform Act of 1995. These forward-looking statements
involve a number of risks and uncertainties that could cause actual results to
differ materially from either historical or anticipated results depending on a
variety of factors. Potential factors that could impact results include: the
impact of any economic downturns especially in the residential housing market,
pricing pressures due to competition, costs and availability of raw materials,
availability of commercial credit, availability of retail and wholesale
financing for residential and manufactured homes, availability and costs of
labor, inventory levels of retailers and manufacturers, levels of repossessed
residential and manufactured homes, the financial condition of our customers,
the ability to generate cash flow or obtain financing to fund growth, future
growth rates in the Company’s core businesses, interest rates, oil and gasoline
prices, the outcome of litigation, adverse weather conditions impacting retail
sales, our ability to remain in compliance with our credit agreement covenants,
and our ability to refinance or replace our credit facility. In addition,
national and regional economic conditions and consumer confidence may affect the
retail sale of recreational vehicles and residential and manufactured homes. The
Company does not undertake to update forward-looking statements to reflect
circumstances or events that occur after the date the forward-looking statements
are made. Further information regarding these and other risks, uncertainties and
factors is contained in the section entitled “Risk Factors” in the Company’s
Annual Report on Form 10-K for the year ended December 31, 2009, and in the
Company’s Form 10-Qs for subsequent quarterly periods, which are filed with the
Securities and Exchange Commission (“SEC”) and are available on the SEC’s
website at www.sec.gov.