Sherwin-Williams Foundation to Award First Ever $50,000 Grant to the Cleveland Housing Network

Business Wire,  May 23, 2008  

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S-W Grant Will Help CHN Offer Affordable Homeownership for Low Income Clevelanders with a Goal of Generating Pathways out of Poverty

CLEVELAND -- The Sherwin-Williams Company (NYSE:SHW):

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Background

Cleveland Housing Network (CHN)

Since 1981, Cleveland Housing Network (CHN) has generated more than $398 million in capital investments in Cleveland neighborhoods, developing 4,464 housing units and delivering energy conservation/home repair services to 77,000 households across Northeast Ohio. For over 25 years, Cleveland Housing Network has built highly effective programs and funding partnerships with a host of individuals and organizations. This well-established network of 17 constituent community development corporations, government agencies and officials, banks, corporations, foundations and academic and religious institutions helps sustain the organization and maximize its benefit to the greater Cleveland region.

The $50,000 Sherwin-Williams grant will support CHN's Lease Purchase Homeownership Group. This new Group will help low-income residents "who have been renting successfully for 15 years" successfully transition to, and sustain, homeownership.

Today's site is one of 10 homes CHN has rehabed for the Lease Purchase Program(LP), a nationally recognized effort that helps over 2,400 low income families find, lease and eventually purchase homes they could not have afforded on their own.

CHN was the first program of its kind to link the Low Income Housing Tax Credit with a lease-to-purchase option. Today, it is widely replicated and continues as on of the nation's most effective income-targeted, non-profit homeownership programs.

CHN Contact:
Damita Curry
216.774.2363 - voice mail
216.406.5863 - cell
dcurry@chnnet.com

The Sherwin-Williams Foundation

The Sherwin-Williams foundation is dedicated to children's health and education that leads to economic independence.

The Sherwin-Williams $50,000 Grant, to be awarded annually, maximizes Sherwin-Williams commitment to the community and reaffirms our Culture of Excellence and Guiding Values that are integral to every facet of our business: Integrity, People, Service, Quality, Performance, Innovation and Growth.

The Sherwin-Williams Company

Founded in 1866, The Sherwin-Williams Company is a global leader in the manufacture, development, distribution, and sale of coatings and related products to professional, industrial, commercial, and retail customers.

The company manufactures products under well-known brands such as Sherwin-Williams[R], Dutch Boy[R], Krylon[R], Minwax[R], Thompson's[R] Water Seal[R], and many more.

With global headquarters in Cleveland, Ohio, Sherwin-Williams'[R] branded products are sold exclusively through a chain of 3,325 company-operated stores and facilities, while the company's other brands are sold through leading mass merchandisers, home centers, independent paint dealers, hardware stores, automotive retailers, and industrial distributors.

The Sherwin-Williams Global Group distributes a wide range of products in more than 30 countries around the world. For more information, visit www.sherwin.com.

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