2007 Credit Suisse

Building Products Conference

January 9, 2007

Gary E. Robinette

Ply Gem

President & CEO

Shawn K. Poe

Ply Gem

Chief Financial Officer

President and Chief Executive Officer since October 2006

Previously held positions with Stock Building Supply including most recently as Executive Vice President of Operations

Chief Financial Officer since February 2004

Previously Vice President - Finance of Variform, and priorto that, Corporate Controller for Nordyne, Inc.

Management Presenters

Forward Looking Statements

The following information may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on management’s current expectations and beliefs, as well as a number
of assumptions concerning future events. These statements are subject to risks, uncertainties, assumptions and other important factors. You are cautioned not to put undue reliance on such forward-looking statements because actual results may vary
materially from those expressed or implied. Ply Gem Industries, Inc. assumes no obligation to, and expressly disclaims any obligation to, update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. For further information regarding Ply Gem’s risk factors, please refer to the risk factors
identified in our form 10-K, as updated by our forms 10-Q.

Gary E. Robinette – President & CEO

Ply Gem Review

Who is

PLY GEM ?

The Ply Gem Family

Siding and

Accessories

►

Variform, Inc., Napco, Inc. & Alcoa Home Exteriors (Nov. ’06)

►

Vinyl, Aluminum products, Injection molded products

►

#1 position in U.S. vinyl siding market

►

#1 position in the aluminum accessories market

►

9 manufacturing plants

Windows

and Doors

►

MW Windows, Great Lakes Windows, Alenco Windows, and CWD Windows

►

Vinyl, Wood and Aluminum Windows

►

Top 5 manufacturer of vinyl windows in U.S.

►

#1 windows and doors manufacturer in Western Canada

►

9 manufacturing plants

Fencing,

Railing and

Decking

►

Kroy Building Products

►

Leading position in fast growing vinyl fence and railing category

►

#1 in vinyl railing

►

#2 in vinyl fencing

►

2 manufacturing plants

Ply Gem is a leading manufacturer of residential exterior building products with sales in excess of $1.6 Billion.

Ply Gem maintains No. 1 market positions in vinyl siding, aluminum accessories, and vinyl railing, and holds a leading position in vinyl windows

The Company offers multiple leading brands at attractive price points to sell into the widest possible distribution channel network including dealers, distributors, retail homecenters and retail lumberyards, while avoiding channel conflict

Ply Gem (including full year of Alenco and AHE) generated pro forma LTM 9/30/06 Net Sales of $1,605.7 million and pro forma Adjusted EBITDA of $183.1 million excluding $22.0 million of expected cost savings and synergies from the AHE acquisition which management remains confident in achieving

Pro Forma LTM 9/30/06 Sales by Product

Pro Forma LTM 9/30/06 Sales by End Market

Ply Gem is a leading domestic manufacturer of vinyl siding, windows, patio doors,fencing, railing and decking serving both the new construction and repair and remodeling end markets

Ply Gem Overview

Acquired by a Caxton–Iseman affiliate from Nortek, Inc. in February 2004 for $560.0 million, excluding fees and expenses

Acquired MWM Holdings, Inc (“MW”) from Investcorp Investment Equity Ltd. and affiliates in August 2004 for $320.0 million, excluding fees and expenses

Acquired AWC Holdings Company (“Alenco”) from Linsalata Capital Partners and management in February 2006 for $120.0 million, excluding fees and expenses

Acquired Alcoa Home Exteriors, Inc. (“AHE”) from Alcoa Inc. in October 2006 for $305.0 million, excluding fees and expenses

Company History

Vinyl windows continue to gain market share

Increased builder and consumer acceptance of vinyl windows, with vinyl being the dominant window material

New construction in Western Canada has slowed, but remains near high levels historically

Windows & Doors

Fencing, Railing & Decking

US residential and commercial vinyl fence market expected to continue to gain market share as a product category

Siding & Accessories

Vinyl remains the dominant siding product types

Vinyl siding penetration within both the new construction market and repair/remodeling market continues to increase

Housing Market

Fundamentals

Interest rates remain at relatively low levels and appear poised to continue rising at a measured pace

Factors driving new construction include an aging housing supply, growing population, and increasing home ownership rates

Repair & remodeling segment driven by strong existing home sales and an aging housing supply

Repair & remodeling provides an effective counter balance to the new construction segment

Industry Fundamentals Remain Favorable

Employment	1	2
Mortgage rates	2	4
Recent home prices	3	5
Current home prices	4	--
Debt service/total income	--	1
Apt vacancy	--	3

Selected Variables’ Importance

for Predicting:

        Selected
     Variables
                                             Housing                      Rmodeling
                                              Starts                      Expenditures

Facilities Located to

Optimize Service and
Flexibility

Locations of facilities allow us flexibility to shift production to optimize efficiency while maintaining high service levels

CWD operates 7 distribution centers that service the Western Canada windows and doors market

Low Cost Producer

One of the largest consumers of PVC resin in North America—results in purchasing leverage that others may not have

Vertical integration has significantly reduced cost in window products

Efficient Manufacturer

Siding facilities are among the most efficient in the industry

Virtual facility strategy in siding is being deployed in fence and window operations

Utilize DFT and other Lean Manufacturing techniques

Proprietary VMI (Vendor Managed Inventory) program

Recognized by customers for outstanding service and lead times

Outstanding Service

Proposition

Strong Brand Recognition

Georgia-Pacific, Alcoa and Mastic siding brands are among the most recognized names in building products

MW is recognized by dealers as a brand that drives business

Great Lakes Window brand is highly-regarded within the premium price category of remodeling windows

Ply Gem’s Competitive Advantages

Strong Management

Team

Proven track record across all of Ply Gem businesses with the respect of our customers

Industry Leader

#1 market share position in vinyl siding and aluminum accessory products

Combined Company’s window business among the top players in the vinyl window industry

Leading position in fast growing vinyl fence and railing category

Product Portfolio of Highly

Regarded Brands Names
Across Price Points

Diverse product offerings across all price points

Multiple brands and differentiated products

Multiple distribution channels

Minimal working capital and capital expenditures

Focus on balance sheet deleveraging over next 12-24 months

Strong Sustainable

Free Cash Flow

Numerous

Synergistic
Opportunities

Cost synergies through operational improvements and consolidation of appropriate “backroom” functions

Revenue synergies through cross selling within window and siding customer base

Investment Highlights

What must we be

going forward?

PLY GEM Industries, Inc

—

Customers

—

Associates

—

Vendors

—

Operating Efficiencies

—

Operating Company versus

Holding company

“Alone we

add,
together
we
multiply.”

As industry leaders, we must lead change

Competition

Consolidation

—

Building Material Suppliers

—

National Builders

—

New Channels

Leveraging resources

—

Speed and quality of execution

Market opportunities

Structure/Areas of focus

Business units (Siding, New Construction Windows, Replacement Windows, Fence and Rail)

Growth (Organic, Business Development, Acquisitions)

Asset management (CFO, Supply Chain)

Strategic planning (Marketing, R & D, HR)

Differentiators (Low cost producer, HR, Sourcing)

PLY GEM’S Priorities

Profitable Growth

- Improve our diversity

- Double digit growth

- Strategic acquisitions

Operational Excellence

- Safest workplace in our Industry

- Low cost producer

- Improve Working Capital

- 15+% EBITDA performer

PLY GEM’S Priorities

Customer Loyalty

- Excellent customer service

- Broad offering of products

- Strong brands with valued customer relationships

Innovative Solutions

- New product development

- Utilize cost effective technology with customer/vendors

- Working capital improvements

PLY GEM’S Priorities

Human Resource Development

- Succession planning

- Talent management

- Create a culture of empowerment

Leverage our National position

- Grow with “winners” in our channels

- Align our growth with the National Builders

- Expand our brands into new markets….FL..CA..AZ..TX

“We are no longer the organization we used to be, and we
are not yet the
organization we
intend to be.”

Shawn K. Poe – Chief Financial Officer

Financial Review

Net Sales

Adjusted EBITDA

Adjusted EBITDA - CapEx

Capital Expenditures

Note: Historical pro forma results include MW and Alenco for all periods shown.

Ply Gem - Historical Pro Forma Financial Information

Net Sales

Adjusted EBITDA

Adjusted EBITDA - CapEx

Capital Expenditures

AHE - Historical Pro Forma Financial Information

Net Sales

Adjusted EBITDA

Adjusted EBITDA - CapEx

Capital Expenditures

Note: Historical pro forma results include MW, Alenco and AHE for all periods shown.

Ply Gem & AHE Combined - Historical Pro Forma Financial Information

Sales Synergies

Across Businesses

World Class Manufacturing

Practices

Proven Management

Team

Significant

Synergies and Cost Savings

Substantial,

Sustainable Free

Cash Flow

Strong Product

Portfolio of Highly

Regarded Brand
Names Across All

Price Points

Strong Financial

Sponsor Support

Long-Standing and

Diversified

Customer
Relationships

Key Attributes

Questions & Answers

Computation of Non-GAAP Financial Information

Pro forma net sales – Excluding AHE

Adjusted pro forma EBITDA – Excluding AHE

Pro forma capital expenditures (CAPEX) – Excluding AHE

Pro forma EBITDA less CAPEX – Excluding AHE

Pro forma net sales – Including AHE

Adjusted pro forma EBITDA – Including AHE

Pro forma capital expenditures (CAPEX) – Including AHE

Pro forma EBITDA less CAPEX – Including AHE

Supplemental Information

Computation of Pro Forma Net Sales

Supplemental Information – Excluding AHE

Supplemental Information

Computation of Adjusted EBITDA – Excluding AHE

Supplemental Information – Excluding AHE

Computation of Pro Forma Capital Expenditures (CAPEX)

Supplemental Information – Excluding AHE

Computation of Adjusted Pro Forma EBITDA – CAPEX

Computation of Pro Forma Net Sales

Supplemental Information – Including AHE

Supplemental Information

Computation of Adjusted EBITDA – Including AHE

Supplemental Information – Including AHE

Computation of Pro Forma Capital Expenditures (CAPEX)

Supplemental Information – Including AHE

Computation of Adjusted Pro Forma EBITDA – CAPEX