Cover Forward Financial Highlights RPM at a Glance Letter to Shareholders Growth Strategy Selected Financial Data Management’s Discussion and Analysis Financial Statements Notes to Financial Statements Auditor’s Report Stock Price Information Directors and Officers Operating Information Stockholder Information

Year Ended May 31 2004 20031 2002 (In millions, except per share and percent data)     Net sales $ 2,341.6 $2,083.5 $1,986.1 Asbestos charge      $140.0   Income before taxes    $ 217.6     $ 47.9    $ 154.1 Net income    $ 141.9      $ 35.3    $ 101.6 Return on sales        6.1%       1.7%        5.1% Return on stockholders' equity      15.3%       4.1%      13.6% Diluted earnings per share     $ 1.22     $ 0.30     $ 0.97 Cash dividends per share    $ 0.550    $ 0.515    $ 0.500 (1) Excluding the impact of the $140.0 million pre-tax ($88 million after-tax) asbestos charge, income before taxes would have been $187.9 million; net income, $122.8 million; return on sales, 5.9%; return on stockholders' equity, 13.5%; and diluted earnings per share, $1.06. The asbestos charge impacted diluted earnings per share by $0.76. See Note H of the Consolidated Financial Statements for discussion. Management believes that the inclusion of this non-GAAP financial data provides investors with additional insights into pertinent performance measures of the business, and that it should be viewed as supplemental data, rather than as substitutes or alternatives to GAAP measures of performance. (2) Shaded areas reflect the positive impact on the financial data of the exclusion of the asbestos charge. See (1) above. RPM International Inc. | 2628 Pearl Road P.O. Box 777 Medina, OH 44258 Phone (330) 273-5090 | Fax (330) 225-8743 Email: info@rpminc.com | www.rpminc.com