401K PLAN SUMMARY ANNUAL REPORT

This is a summary of the annual report for the BROOKS EQUIPMENT CO. 401K PLAN, EIN 88-0161234, Plan No. 002, for the period January 1, 1999 through December 31, 1999. The annual report has been filed with the U.S. Department of Labor’s Pension and Welfare Benefits Administration, as required under the Employee Retirement Income Security Act of 1974 (ERISA).

Basic Financial Statement

Benefits under the plan are provided through a trust fund. Plan expenses were $37,935. These expenses included $37,935 in benefits paid to participants and beneficiaries. A total of 93 persons were participants in or beneficiaries of the plan at the end of the plan year, although not all of these persons had yet earned the right to receive benefits.

The value of plan assets, after subtracting liabilities of the plan, was $933,715 as of December 31, 1999, compared to $534,842 as of January 1, 1999. During the plan year the plan experienced an increase in its net assets of $398,873. This increase includes unrealized appreciation and depreciation in the value of plan assets; that is, the difference between the value of the plan’s assets at the end of the year and the value of the assets at the beginning of the year or the cost of assets acquired during the year. The plan had total income of $436,808 including employer contributions of $48,317, employee contributions of $253,262, and earnings from investments of $131,490.

Your Rights to Additional Information

You have the right to receive a copy of the full annual report. To obtain a copy of the full annual report, or any part thereof, write or call BROOKS EQUIPMENT CO., INC., P.O. BOX 560685, CHARLOTTE, NC 28256, (704) 596-9438. The charge to cover copying costs will be $1.25 for the full annual report, or .25 cents per page for any part thereof.

You also have the right to receive from the plan administrator, on request and at no charge, a statement of the assets and liabilities of the plan and accompanying notes, or a statement of income and expenses of the plan and accompanying notes, or both. If you request a copy of the full annual report from the plan administrator, these two statements and accompanying notes will be included as part of that report. The charge to cover copying costs given above does not include a charge for the copying of these portions of the report because these portions are furnished without charge.

You also have the legally protected right to examine the annual report at the main office of the plan (BROOKS EQUIPMENT CO., INC., P.O. BOX 560685, CHARLOTTE, NC 28256) and at the U.S. Department of Labor in Washington, DC, or to obtain a copy from the U.S. Department of Labor upon payment of copying costs. Requests to the Department should be addressed to: Public Disclosure Room, Room N-5638, Pension and Welfare Benefits Administration, U.S. Department of Labor, 200 Constitution Avenue, NW, Washington, DC 20210.