The Company's third quarter financial results were in line with the revised guidance that was announced on October 19. Revenue for the period was $29.9 million, an increase of 16% over the third quarter record revenues of $25.8 million in 2000. Income from operations was $5.7 million versus $8.5 million for the third quarter of last year. Net income for the quarter was $3.4 million, or $0.24 per diluted share, compared to $5.2 million, or $0.37 per diluted share, for the third quarter of 2000. Unabsorbed fixed manufacturing costs caused by manufacturing line shut downs have significantly influenced this unfavorable income result.

For the nine months ended September 30, 2001, revenue was $99.8 million versus $101.3 million in the same period last year. Income from operations was $19.4 million versus $30.2 million for the first nine months of last year. Net income for the nine months ended September 30, 2001 was $11.3 million, compared to $18.3 million in the nine months ended September 30, 2000. On a fully diluted per share basis, net income was $0.80 per share versus $1.29 per share in 2000.

"While revenue for the third quarter improved both year-over-year and sequentially, there is no doubt that the events of September 11 have had a temporary impact on our business," stated Trex Company president Robert Matheny. "This is compounded by the fact that the fourth quarter is a seasonally slow period for decking sales. Thus, it is clear that unabsorbed fixed manufacturing costs will continue to have an adverse effect on earnings for the entire fourth quarter.

"One of the unknowns is the level of inventory that our distributors will maintain during the slow season. A survey of our wholesale distribution channels indicates that year-to-date downstream sales exceeded that of 2000 levels by approximately 25%, indicating continued strong demand. However, the cautious stance taken by distributors and dealers over the near term has resulted in a scaling back of their inventories to below-normal levels given the economic uncertainty. We believe that we are experiencing a trough in our business that will reverse over the intermediate term.

"There was continued interest in Trex decking among municipalities and real-estate developers in the third quarter that is translating into sales. Trex's durability, affordability and aesthetic appeal have resulted in highly visible project wins such as the BioSphere in Tuscon, Arizona, the Pickering, Ontario Boardwalk on Lake Ontario and the San Francisco Yacht Club. The Pickering, Ontario Boardwalk marks the second phase of a multi-year project. The city's positive experience with Trex products used in phase one, completed in 1999, led to the add-on business for phase two."

Mr. Matheny continued, "In addition to securing exciting projects for our products, Trex also continues to receive industry recognition. During the quarter, the company won three prestigious awards that included Brand Leader by Remodeling Magazine, the Golden Hammer(R) Award for Business-to-Consumer Advertising, and the Virginia Governor's Environmental Excellence Award. We are honored to receive these accolades and view them as validation of our efforts to establish Trex as the premier provider of quality decking.

"To further enhance our market penetration, we recently hired new sales representatives to increase our coverage in some of our larger markets. During the third quarter, three new distribution locations were added bringing the total to 91 locations, 21 more than in the third quarter of 2000."

Mr. Matheny concluded, "We are confident that we have effectively addressed current market conditions by temporarily shutting down excess manufacturing capacity while ensuring more-than-adequate production capabilities going forward. This included a reduction in headcount of more than seventy-five employees. While we need to deal with the uncertain near-term market conditions, our focus to establish Trex as the standard in the $2.5 billion decking market remains unchanged and we are optimistic about the future."

The company has scheduled an analyst conference call for 9:00 a.m. EST today. A live webcast of the conference call will be available to all investors at the Trex Company Web site at www.trex.com and on www.streetevents.com. For those who cannot listen to the live broadcast, an audio replay of the call will be available on the company's Web site for 30 days. A telephone replay of the call will also be available until 11:00 a.m. EST on Nov. 5. To listen to the telephone replay, dial 800-633-8284 (858-812-6440 outside the U.S.) and enter reservation number 19903909.

About Trex Company

Trex Company is the nation's largest manufacturer of non-wood decking, which is marketed under the brand name Trex(R). Trex Wood-Polymer(TM) lumber offers an attractive appearance and the workability of wood without the ongoing need for protective sealants or repairs. Trex decking is manufactured in a proprietary process that combines waste wood fibers and reclaimed polyethylene and is used primarily for residential and commercial decking. The Company sells its products through 91 wholesale distribution locations, which in turn sell Trex decking to approximately 2,900 independent contractor-oriented retail lumberyards across the United States.

Trex(R)Easy Care Decking(R)and Wood-Polymer(TM)Lumber(TM)are trademarks of Trex Company, Inc., Winchester, VA.

The statements in this press release regarding the Company's expected sales performance and operating results, its anticipated financial condition and its business strategy constitute "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements are subject to risks and uncertainties that could cause the Company's actual operating results to differ materially. Such risks and uncertainties include the extent of market acceptance of the Company's products, the sensitivity of the Company's business to general economic conditions, and the highly competitive markets in which the Company operates. The Company's report on Form 10-K filed with the Securities and Exchange Commission on March 28, 2001 discusses some of the important factors that could cause the Company's actual results to differ materially from those expressed or implied in these forward-looking statements. The Company undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise.

TREX COMPANY, INC. Condensed Consolidated Statements of Operations (In thousands, except share data) (Unaudited)

Three Months Ended Nine Months Ended September 30, September 30, 2001 2000 2001 2000

Net sales(a) $29,868 $25,806 $99,791 $101,308 Cost of sales(a) 16,716 12,703 55,754 52,030 Gross profit 13,152 13,103 44,307 49,278 Selling, general and administrative expenses 7,478 4,647 24,602 19,097 Income from operations 5,674 8,456 19,435 30,181 Interest expense, net (760) (76) (1,708) (616) Income before taxes 4,914 8,380 17,727 29,565 Income taxes 1,511 3,184 6,382 11,231 Net income $3,403 $5,196 $11,345 $18,334 Fully diluted earnings per common share $0.24 $0.37 $0.80 $1.29 Weighted average fully diluted shares outstanding 14,171,593 14,193,579 14,172,971 14,182,491

(a) Amounts for the three and nine months ended September 30, 2000 have been reclassified to reflect the adoption of EITF 00-10, Accounting for Shipping and Handling Fees and Costs.

TREX COMPANY, INC. Condensed Consolidated Balance Sheets (In thousands, except share data)

December 31, 2000 September 30, 2001 (unaudited)

ASSETS Current assets: Cash and cash equivalents $-- $-- Trade accounts receivable 10,582 5,308 Inventories 23,017 32,002 Prepaid expenses and other assets 689 741 Income taxes receivable -- $-- Deferred income taxes 478 360 Total current assets 34,766 38,411 Property, plant and equipment, net 113,635 137,330 Intangible assets, net 7,544 7,013 Other 650 500 Total assets $156,595 $183,254

LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Trade accounts payable $17,082 $10,449 Accrued expenses 2,053 1,156 Income taxes payable 574 181 Other current liabilities 664 894 Line of credit -- 66,764 Debt related derivatives -- 1,906 Current portion of long-term debt 697 10,078 Total current liabilities 21,070 91,428 Deferred income taxes 5,782 6,354 Line of credit 44,748 -- Long-term debt 15,954 6,055 Total liabilities 87,554 103,837

Stockholders' equity: Preferred stock, $0.01 par value, 3,000,000 shares authorized; none issued and outstanding -- -- Common stock, $0.01 par value, 40,000,000 shares authorized; 14,135,060 and 14,145,329 shares issued and outstanding 141 142 Additional capital 41,330 41,542 Retained earnings 27,570 38,915 Other comprehensive loss -- (1,182) Total stockholders' equity 69,041 79,417 Total liabilities and stockholders' equity $156,595 $183,254