OPERATOR: Good day ladies and gentlemen and welcome to the Dayton Superior
conference call. At this time all participants are in a listen-only mode. Later
we will conduct a question-and-answer session. Instructions will follow at that
time. As a reminder today's conference call is being recorded.

Before proceeding further, let me read the company's Safe Harbor statement.
Certain statements made herein concerning anticipated future performance are
forward-looking statements. These forward-looking statements are based on
estimates, projections, beliefs and assumptions of management and are not
guarantees of future performance. Actual future performance, outcomes, and
results may differ materially from those expressed as forward-looking statements
as a result of a number of important factors. Representative examples of these
factors include without limitation, the cyclical nature of non-residential
building and infrastructure construction activity, which can be affected by
factors outside of Dayton Superior's control, such as the general economy,
governmental expenditures, and changes in banking and tax laws. Dayton
Superior's ability to successfully integrate acquisitions on a timely basis, the
seasonality of construction industry and the amount of debt Dayton Superior must
service. This list of factors is not intended to be exhaustive, and additional
information concerning relevant risk factors can be found in Dayton Superior's
Registration Statement on Form S-4, Annual Report on Form 10-K and Quarterly
Reports on Form 10-Q filed with the Securities and Exchange Commission. Let me
remind you that under the SEC's Regulation FD, the company cannot provide any of
you with future EBITDA and earnings guidance individually, so they urge you to
ask any questions, which will help you build your financial models in this
public forum. I would now like to introduce your host for today's conference
call, Mr. Steve Morrey. Please go ahead.

STEPHEN MORREY, PRESIDENT AND CHIEF EXECUTIVE OFFICER, DAYTON SUPERIOR
CORPORATION: Good morning. Thank you for joining us today. I will lead off the
call with my comments regarding the company, the markets we serve and an
overview of the current initiatives that are underway in the company. Alan
McIlroy our CFO will cover the financial information and then we will open the
call up for any questions.

As you all know the construction markets that we serve have been weak since mid
2001. This is continuing in 2003, but we expect a mild recovery in '04. For
non-building or infrastructure construction Cahner's is saying '03 will be off
1.1 percent with some recovery in '04. For non-residential FW Dodge and Cahner's
are estimating construction to be off in the 3.5 to 6 percent range for '03 with
some recovery in '04. As a matter of conservatism, we are assuming the
forecasting agencies may be overly optimistic and are managing with the
expectation that the market will be down 7 to 10 percent in '03.
Philosophically, we plan for the worst and hope for better.

Now given our read on the market, we have continued to move forward at an
aggressive pace with our internal initiatives to save money and operate more
efficiently. Since we began these initiatives in '01, we have shut down 24
locations and laid off 28 percent of our salaried workforce.

In the first quarter of '03, we reduced non-direct headcount for an additional
annualized savings of $2.2 million. Steps taken since the second quarter of '01
have cut our costs by an annual run rate totaling approximately $37 million. Our
estimate today is that approximately $20 million of these savings are permanent,
and will enhance our profits when the business recovers.

Importantly, we have achieved these cost reductions without adversely impacting
our customer service abilities, and this confirms that we continue to follow
through on our commitment to reduce cost and proactively manage the business and
to take advantage of the challenging market conditions. I think it's worth
noting that if '04 turns up in a meaningful way, we will be ready despite our
cost cuts. As I have mentioned in earlier calls, our cost structure has a
significant variable component and we can quickly respond to upturns as well as
downturns.

Alan will give you the financial details but overall our revenue was down 13.1
percent in the first quarter.

The North Regions of our business suffered from unusually adverse weather, which
affected overall revenue for the company in Q1. This is evidenced by the fact
that our northern region construction products were off approximately 35 percent
and the balance of the country was off approximately 6 to 7 percent. These
numbers do not include one product line, where we intentionally and successfully
traded market share for price. Despite these affects of weather and market, our
EBITDA margins were flat for the quarter.


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Now, for some comments about the performance of our two businesses for the first
quarter, Dayton Superior Construction Products Group, CPG, which encompasses the
selling units for Dayton/Richmond Concrete Accessories, American Highway
Technology Paving Products, Dayton Superior Specialty Chemical Products, and
Dur-O-Wal Masonry Products, was down 15.6 percent from the first quarter of '02.
A large portion of CPG's products serve non-residential markets. So, a drop in
revenue was to be expected given the state of these markets. These products are
also typically on-demand products and there is a strong correlation to adverse
weather and pull through. Non-residential construction has been negatively
impacted by lower commercial office and retail space construction, and
dramatically reduced manufacturing and warehouse construction, driven by lower
end-user demand for those spaces.

Symons, our Concrete Forming Systems business was down 7.1 percent from prior
year. Sales of used products increased but the forms rental market as well as
new product sales remained weak.

As we have mentioned in the past, we have continued to migrate our fleet mix
from conventional forms toward a greater mix of clamping systems through
investing proceeds from used sales into new fleet. The net effect is that our
gross book value of fleet since 2000 is up roughly $20 million. This positions
us to capitalize on rental markets when the economy rebounds. Symons is the
leader in the sales and rental of reusable modular concrete forming systems,
showing systems and accessory products.

Now, Alan will give you the financial details.  Alan?

ALAN MCILROY, CHIEF FINANCIAL OFFICER, DAYTON SUPERIOR CORPORATION: OK. Thank
you Steve and good morning ladies and gentlemen. I will be referring to the
press release figures that were published yesterday and if you didn't get a
copy, please let us know.

First quarter, I am pleased to say saw us continuing to benefit from our cost
reduction programs, which helped us maintain our EBITDA margins, despite the
sales volume reduction year-over-year. With that total revenues for the first
quarter of 2003 came in at $68.2 million, which was down $10.3 million or 13.1
percent from the same quarter of last year, largely due to the continued
softness in some of the construction segments that we serve. In addition, if
that was not bad enough, we had to contend with the frigid weather and
snowstorms that most of us experienced, and the uncertainties caused by the
Iraqi war.

Our reported gross profit for the first quarter reached $21 million, which was
off $5.5 million from the year-earlier quarter and as a percent of sales, gross
margin at 30.8 percent was off 300 basis points from the year earlier period.

This decline was in part volume driven with the fixed cost impact of the lower
sales volume playing a large part as well. Our Construction Products Group was
off 15.6 percent. Total rental revenue was off even more which created a large
margin impact. However, sales of used fleet were up and this helped us to offset
the rental revenue impact.

Moving to SG&A, SG&A was $19.6 million or 28.7 percent of sales, as compared to
$23.2 million or 29.6 in 2002. This is a 90 basis points favorable yield and
reflects the benefit of our preemptive cost saving programs.

Operating income was $900,000 versus $3.1 million in the same quarter of last
year. Interest was at $8 million; our blended interest rate was 9.1 percent at
the end of the quarter.

Depreciation and amortization was 5.8; the D was 5.7 and the A was 0.1.

And as you know the SEC's new regulation G requires us to define EBITDA and
reconcile it to operating income, which we feel is the most comparable GAAP
measure. We define EBITDA in the same manner in which it is defined in our
credit agreement, which consists of earnings before interest expense, benefit
for income taxes, depreciation expense, amortization of intangibles, facility
closing and severance expenses and other expense.

EBITDA margin is EBITDA divided by net sales. And in the first quarter EBITDA
was $7.2 million, which was $1.1 million or 13.7 percent lower than last year,
now this number was calculated by taking our Q1 2003 $900,000 of GAAP operating
income and adding back to it $395,000 of facility closing and severance
expenses, $5.8 million of depreciation expense and $129,000 of amortization and
goodwill and intangibles.


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When we compare that amount to Q1 2002, GAAP operating income of $3.1 million
plus facility closing and severance expenses of $121,000, depreciation expense
of $5 million and amortization expense of $73,000.

Our EBITDA margin for the first quarter was 10.5 percent, which was virtually
flat with last year at 10.6, while our operating income margin is at 1.3 percent
in 2003 compared to 3.9 in 2002. Our LTM EBITDA came in at $57.4 million while
our LTM GAAP operating income was $29.5 million.

Now overall, the proactive initiatives that we implemented since the middle of
2001 have cumulatively cut costs and headcount, facility closings and cut
procurement costs amounted to around $37 million. And this is what helped us
maintain EBITDA margins at a very difficult time in the economy. The affect of
these cuts in 2001 was $6 million, it was $18 million in 2002 with the balance
of $13 million to come in 2003 and the first quarter of this year saw us benefit
by $3.9 million year-over-year. Let's take a look at the balance sheet. Total
assets were at $389.6 million. Our quarter end total net debt position was $313
million, which was a short-term portion of 8.7 and is net of cash of 4.5.
Accounts receivable at $54.8 million was up slightly from the same period of
last year, and down by about $6.3 million from the end of 2002.

And as I mentioned in the last call we extended terms to customers in the fall
to help maintain our volume, and most of that program has been collected in the
first quarter.

Inventory was at $55.7 million, which is up from last year's first quarter by $2
million. Accounts payable was at 29.4, which was up by $3.9 million from last
year.

Net CAPEX for the quarter was a spend of $4.9 million, PP&E was 2.5 and rental
net of proceeds was 2.4 and this basically consisted of additional Euro fleet as
part of our program to reprofile the rental fleet. Our rental fleet ended at
$70.1 million, which was up slightly from the same period of last year.
Utilization for the fleet, the Symons fleet was at 47 percent which was down
slightly from last year's 48 percent and again, I will point out Symons
utilization rate was around 42 percent in an up market, when we acquired them in
1997. So we're doing quite nicely in a very difficult market environment.

As expected, all of our debt covenants were met, interest coverage was at 1.82
versus the minimum required of 1.65. Our leverage ended at 5.54 times versus the
maximum allowed of 5.75, and finally our minimum EBITDA was at 57.4, versus
$55.5 million requirement.

It is worth noting that we're meeting our covenants now in an awful business
environment. We've created a good upside earnings leverage once the economy
improves. So, again as we've demonstrated, we continue to pay close attention to
our business fundamentals that is, cost control, cash management and maintenance
of our business franchise and this have been and will be our primary focus as we
go forward.

Thank you, now back to Steve.

MORREY: OK thanks Alan. I would again like to update you on the significant
restructuring that I first discussed in the third quarter call. This initiative
was designed specifically to reduce cost while enhancing customer service. We
have completed the consolidation of our overhead structure from five marketing
arms to two, CPG and Symons. We've also established a supply chain management
group that is responsible for the majority of the manufacturing and distribution
of our products.

This allows us to consolidate our manufacturing facilities and operate them in a
more efficient manner, while cutting our distribution costs. For financial
reporting purposes, we lump the supply chain management group, in with CPG, as
the vast majority of the supply chain management's products are sold by CPG.

As mentioned in November, we've brought on board a new Vice President to head up
the group, who has significant expertise in this area. This initiative is truly
showing significant promise and as it unfolds, we will update you.


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In addition we have set up a financial shared service group, which further
centralizes our accounting functions. Here too, our objective is to trim our
overhead costs, while maintaining in full the quality and scope of our financial
reporting and data processing functions.

Again this restructuring of the company is designed to significantly increase
our ability to sell our products, improve customer service and efficiency and
cut our cost. Diana, we'd like now to open the call for questions.

OPERATOR: Certainly, ladies and gentlemen if you wish to ask a question, please
press the one key on your touch-tone telephone. If your question has been
answered or if you wish to remove yourself from the queue at any time, please
press the pound key.

One moment for our first question, and our first question will be from Robert
Manowitz from UBS Warburg, please go ahead.

ROBERT MANOWITZ, UBS WARBURG: Hi, good morning. Just a couple of questions,
first, there was no mention of product pricing of steel costs as a raw material
input, and I was wondering if you could talk a little bit about how those two
elements played into the quarter?

MCILROY: Steel pricing came in as planned Robert. I think we've looked at our
plan for this year, our expectation of steel being up about six percent year
over year, and I think we've done slightly better than that because of the
foreign rod we imported.

MANOWITZ: OK, and the pricing environment for your products?

MCILROY:  Could you tell me what you mean by that?

MANOWITZ: Are you seeing any pricing pressure for your products or are you able
to pass along some of the steel costs through price increases?

MCILROY: Oh, I see, the pricing seems to be OK, I mean there are some segments
where we're having some pressure, but in other cases we're doing all right.

MANOWITZ: OK, can you walk us through, as we look out through the whole year,
could you help us forecast or guide us towards a forecast for Rental Fleet sales
and the gain that would be included in your EBITDA?

MCILROY: As I said in our last call Robert, we're not giving any guidance going
forward.

MANOWITZ: OK, and then lastly then, maybe you will just be able to guide us on
any future cash costs you expect from restructuring?

MCILROY: Restructuring we've got, we had a cut in the first quarter in January,
and there will probably be around about another million dollars.

MANOWITZ:  Okay.

MCILROY: All right, just for your information, we actually spent about 1.9 in
the first quarter for previous cuts, and going forward I think that will be
about another million.

MANOWITZ: OK great. Well, let me push this just a touch further, and I
appreciate your position. If I look at the first quarter, the rental fleet sales
and the gain, on those sales including your EBITDA, could I look at the
magnitude change year over year in the first quarter of '03 versus the first
quarter of '02, and expect that that type of year over year gain would continue
into the second and third quarters?

MCILROY:  I don't really want to give you any guidance on that, Robert.

MANOWITZ:  I thought I'd try, thank you.


                                       4


MCILROY:  OK.

OPERATOR: Thank you. Once again ladies and gentlemen if you would like to ask a
question please press the one. We do have a question now from the line of Kevin
Buckle from GrandView Capital, please go ahead.

KEVIN BUCKLE, GRANDVIEW CAPITAL:  Hi guys.

MORREY:   Hi Kevin how are you doing?

BUCKLE:  Good, how are you?

MORREY:   Good.

BUCKLE: Steve, I think you mentioned earlier in the call about, you were
comparing the northern regions of the country to the rest of the country?

MORREY:  Yes.

BUCKLE:  Was that for the entire revenue base, I wasn't sure?

MORREY:  We're talking about Construction Products Group?

BUCKLE:  Oh, just construction products?

MORREY: Which is everything except Symons, and we made the exception of one
product line which for competitive reasons I don't want to go into a lot of
detail on which we deliberately and it's not hugely material, but in one product
line we deliberately traded some market for EBITDA and did it very successfully.

BUCKLE: How much of the construction products group is, would you refer it in
the northern region, by revenue-wise in the first quarter?

MCILROY:  I don't know if we can give you that either, I think that's more
competitive.

BUCKLE:  Greater or less than 50 percent, or was there some kind of ...

MCILROY:  I don't want to split it out by region, Kevin.

BUCKLE: OK and then on the Symons business, was there a similar mix change there
in terms of revenues, around the country?

MORREY: Yes, we had a similar; I don't have a number here in front of me. The
CPG was probably most represented because it follows, as you said, there is more
of a direct pull through. Symons on the other hand is not tied, you know like
within weeks of what's happening in the market as much as the construction
products do.

So we use the construction products as a barometer for how the weather was
affecting the regions.

BUCKLE: OK, I know your book value of rental equipment is up year over year, as
you purchase new equipment and sell some of the old stuff. What is the unit
comparison year over year? Do you have a number for that, or ...

MCILROY:  I'd have to get that for you.

BUCKLE: OK, just on the pricing front again, I think you mentioned that
utilization was relatively flat for Symons?

MCILROY:  Yes.


                                       5


BUCKLE: Year over year you had revenue I think on the rental side was down what
30 percent or so, 35 percent?

MILROY:   Right.

BUCKLE:  That's price?

MCILROY: Well, it's partially price, there is no doubt about it rental rates are
down, but that's basically the reason.

BUCKLE: Or would it be that you just have lower, fewer units on rent year over
year, as you down size the fleet.

MCILROY: Because really it's was the other way round because you know rental
rates are down we actually have more pounds on rents I would think, so we are
getting less value for more and more on rent.

BUCKLE: OK, so you're saying that a fair amount of that still is price
compression on the rental side.

MCILROY:  Correct, yes.

BUCKLE: And I think you spent a couple of million dollars on capital leases in
the quarter, what was that, was that rental equipment or was that other CAPEX?

MCILROY:  There's one million in rental.

BUCKLE: One million rental?

MCILROY:  The rest was a forklift deal we did.

BUCKLE: OK. Do you guys think your mix of rental fleet now it has come in to a
level, which you believe will be stable in terms of the foreign versus the
domestic product?

MCILROY: Again, we're trying to align the fleet to market demands and position
ourselves for the uptick, probably there will be, if we add more in the future,
it will be euro not so much of the old, but again it depends on how the markets
work.

BUCKLE: So the $12 million you guys purchased I think in the first quarter was a
majority of that?

MCILROY:  Yes, most of that was euro.

BUCKLE:  OK, thanks.

MCILROY:  Right Kevin, thank you.

OPERATOR: Thank you, once again if you do have a question please press the one
key, gentlemen we have no further
questions in the queue please continue.

MORREY: OK, well, if we have no more questions then I'd like to thank everyone
for your time and interest and that will wrap it up.

OPERATOR: Thank you, ladies and gentlemen that does conclude your conference for
today, we thank you for your participation, you may now disconnect and have a
good day.



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