Dutton Associates Announces Investment Opinion: LESCO Buy Maintained By Dutton Associates

Dutton Associates continues its coverage of LESCO Inc.
(NASDAQ:LSCO) with an updated initial report. LESCO's rating is
maintained at Buy with a price target of $18.00. The report by Dutton
senior analyst Paul Resnik, CFA is available at www.jmdutton.com as
well as from First Call, Bloomberg, Zacks, Reuters, Knobias, Investars
and other leading financial portals.
   LESCO, Inc. is the largest supplier to the U.S. professional
lawn-care and golf-course markets. Over the past 3 1/2 years, the
Company has been engaged in an ongoing restructuring as it has sought
to increase profitability and put itself on a growth path. After
putting new management in place in 2001/2002, LESCO commenced to
discontinue low-profitability manufacturing operations, restart the
expansion of its Service Center chain, cut headquarters expense and
reconfigure its distribution network. As LESCO entered 2005, it
indicated that it was reassessing its remaining manufacturing and
distribution operations with an eye to narrowing the Company's focus
to its retail assets, the Service Centers and Stores-On-Wheels. On
July 26, it entered into an agreement to sell substantially all its
supply chain assets. The increasing evidence that LESCO can improve
profitability and achieve significant growth by directing its
investments at expanding and improving its retail business forms the
basis for our Buy rating for these shares. We believe starting from an
EPS base of $0.90 in 2006, the Company, if it successfully executes
its business plan, can grow EPS by at least 20% per year for the next
five years.

   About Dutton Associates

   Dutton Associates is one of the largest independent investment
research firms in the U.S. Its 27 senior analysts are primarily CFAs,
and have expertise in many industries. Dutton Associates provides
continuing analyst coverage of over 110 enrolled companies, and its
research, estimates, and ratings are carried in all the major
databases serving institutions and online investors.
   Our annual research coverage, which currently costs US $35,000
prepaid, is 4 Research Reports, typically published quarterly, and
requisite Research Notes. Dutton Associates received $77,000 from the
Company for 12 Research Reports with coverage commencing on 3/12/2003.
We do not accept payment of our fees in company stock. Our principals
and analysts are prohibited from owning or trading in securities of
covered companies. The views expressed in this research report
accurately reflect the analyst's personal views about the subject
securities or issuer. Neither the analyst's compensation nor the
compensation received by us is in any way related to the specific
ratings or views contained in this research report or note. Please
read full disclosures and analyst background at www.jmdutton.com
before investing.