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is the world s largest supplier of ceramic proppant, the provider of the world s most popular fracture simulation software, and a leading provider of fracture design, engineering and consulting services. January 2009

Forward Looking Statements The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for forwardlooking statements. Any written or oral statements made by the Company or on behalf of the Company in conjunction with this presentation may include forward-looking statements which reflect the Company's current views with respect to future events and financial performance. These forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from such statements. This document contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 concerning, among other things, the Company's prospects, developments and business strategies for its operations, all of which are subject to certain risks, uncertainties and assumptions. These risks and uncertainties include, but are not limited to, changes in the demand for oil and natural gas, the development of alternative stimulation techniques and the development of alternative proppants for use in hydraulic fracturing. The words "believe", "expect", "anticipate", "project" and similar expressions identify forward-looking statements. Participants are cautioned not to place undue reliance on these forward-looking statements, each of which speaks only as of the date the statement was made. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Our Purpose: To improve production and recovery rates in oil and natural gas reservoirs by focusing on the hydraulic fracturing process. The E&P Need The Solution The Value Increased Production Improved Recovery Increased ROI Effective Fracturing Maximize economics by creating high Conductivity fractures for oil & gas to flow Need experienced experts to Design and Evaluate fractures Economic Conductivity Broadest range of ceramic proppants Increase well production by 20%+ Consulting/Software Experienced consulting expertise FracproPT software Improved Production & Recovery = $$$

Global Leadership Ceramic Market Share - 2007 s growth is driven by: 16% 17% Borivichi FORES Saint Gobain Curimbaba Others 11% 9% 35% Increasing acceptance of the value proposition of our high quality ceramic proppant Increased fracture intensity in North American resource plays Increasing development of natural gas and fracturing activity outside of North America Our continuing commitment to invest in new manufacturing capacity to remain the world leader 12% Source: Company estimates and PropTesters, Inc. 2007 Proppant Market Study

Lbs (M) 1,200 1,000 800 600 400 200 0 A Growth Business 79 80 81 82 83 84 85 86 87 88 89 90 91 92 93 94 95 96 97 98 99 '00 '01 '02 '03 '04 '05 '06 '07 Historical Proppant Sales CAGR 18.5% 28% projected growth in 2008 Note: 2008 run rate calculated through September 30, 2008 '08 Runrate

US - Gas Wells Drilled vs. Gas Production 1997-2008 Wells TCF 35,000 32,000 29,000 Gas Wells Drilled US Gas Production - TCF US Gas Consumption - TCF 26 25 24 26,000 23,000 20,000 22.6 22.7 22.2 22.4 23.3 22.2 23.0 22.3 22.4 22.0 21.7 23.1 23.2 23 22 21 17,000 20.3 20 14,000 11,000 8,000 18.9 18.9 19.0 18.8 19.2 19.6 18.9 19.1 18.6 18.1 18.5 19.3 19 18 17 5,000 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008e 16 Source: EIA Dec 08 Short Term Energy Outlook est for product. and consump., Nov 08 MER gas wells drilled runrate

Increasing Depletion Rates % 60% First Year Well Decline Rates 55% Percentage Decline 50% 45% 52% 54% 55% 49% 40% 44% 42% 43% 42% 44% 41% 42% 46% 35% 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006E 2007E Source: Raymond-James - 2007

Global Opportunities Will Increase International Natural Gas Reserves 7,000 6,000 Trillion Cubic Feet 5,000 4,000 3,000 2,000 1,000 0 1980 1985 1990 1995 2000 2005 2008 Middle East Eurasia Africa Other Source: Energy Information Administration Jan 1 annual estimates

Total Proppant Use by Type % Lbs in millions 16,000 14,000 12,000 10,000 8,000 6,000 4,000 Sand Resin Coated Sand Ceramic 10% 18% 2,000 0 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 Source: Company estimates and PropTesters, Inc. 2007 Proppant Market Study

Our Value Proposition What should an E&P Operator expect using s ceramic proppant versus sand-based proppant Improved Production and Recovery Rates In Oil & Gas Wells 20% + Increase in Initial Production Rates 20% + Increase in Estimated Ultimate Recovery Improved rates of return Rapid payout on initial investment (weeks/months) Lower finding & development costs for E&P Cos. Accelerated recovery times (in some cases by 1/3)

Ceramic Benefits vs. Alternatives Uniform grains provide maximum porosity and increased flow capacity Broadly sieved proppants pack more tightly, resulting in loss of fracture width, and reduced conductivity

E. Texas Field Trial Results Cotton Valley-Taylor, E. Texas (Ascent Operating) Benefits of ECONOPROP over Sand and Resin Coated Sand in Slickwater Fracturing SPE 110451 Permeability: 0.05 md Depth: 10,000 ft Stress on Proppant: 6000 psi Slickwater Fluid System Minden Field

E. Texas Field Trial Results Cumulative Gas volume vs. Days 160000 140000 120000 Four offset Wells - Average 305,000# per well Econoprop 18,200 MCF @ $7/Mcf ($127,700) Cumulative Gas (MCF) 100000 80000 60000 40000 20000 0 0 30 60 90 120 150 180 210 SPE 110451 Days Since Frac'd 20-30% increase in IP 20 Offset wells - Average 398,000# per well Sand/RCS EUR increased by 30% and recovered in 1/3 the time $120,000 incremental value created in first 180 days Incremental cost of proppant ($18k) paid out in <30 days

Bakken Field Study Results Bakken Formation, Montana/North Dakota (Nance Petroleum) AB SK MB ND MT SD WY Benefits of LITE over Sand and Resin Coated Sand in Low Perm Oil Reservoir Low Permeability Oil Wells Depth: 9500-11,000 ft Stress on Proppant: 7500 psi Horizontal Wells SPE 110679

Bakken Field Study Results 180 160 Ceramic - 23 wells Sand - 91 wells Oil Rate (BOPD per lateral) 140 120 100 80 60 40 Ceramics average 40% higher initial production rate After 20 months, ceramics average 90% higher production 20 0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 Months from Initial Production SPE 110679

Ceramic Proppant Areas of Interest Horn River Alberta Shallow Gas Trend Bakken Greater Green River Basin Piceance Marcellus Anadarko Woodford Major Legacy Areas New CRR Growth Areas Possible/Probable Deep Barnett South Texas East Texas Salt Basin Haynesville Gulf of Mexico

Benefits of Increased Conductivity SPE paper 77675 summarizes over 80 SPE papers, representing over 70 companies Located in 35 Regions Alaska, Algeria, Angola, Appalachians, Australia, Bolivia, Borneo, Brazil, California, China, Colorado, Colombia, Europe, Germany, Gulf of Mexico, Illinois, Iowa, Indonesia, Java Sea, Louisiana, Malaysia, Nebraska, New Mexico, North Sea, Norway, Ohio, Oklahoma, Oman, Siberia, Sumatra (Indonesia), Texas, Venezuela, Vietnam, Wyoming, Zaire (W Africa), SPE 77675 Oil wells, gas wells, lean and rich condensate Carbonate, Sandstone and Coal Well Rates Well Depths 1 to 25,000 bopd 100 to 20,000 feet 0.25-100 MMSCFD

Sales vs. Capacity Lbs (M) 1,600 1,500 1,400 1,300 1,200 1,100 1,000 900 800 700 600 500 400 300 200 100 0 1998 1999 Manufacturing Capacity CRR Sales Volume 2000 2001 2002 2003 2004 2005 2006 2007 2008 Run rate * Toomsboro line 3 is expected to be completed in the first quarter of 2010. 2009E TMB3 *

Our Valued Brands The world s largest supplier of ceramic proppant The industry experts on fracturing design and evaluation The Frac Pros The provider of the world s most popular fracture simulation software FracproPT The provider of the broadest technology solutions for Geotechnical monitoring FracproPT Ceramic Proppant Consulting Services Frac Design Software Geotechnical

Financial Highlights Results from Continuing Operations 500 450 Revenue $M 100 90 Net Inc $M Cash From Operations 400 350 300 250 231 284 300 363 80 70 60 50 45 56 52 68 50 69 52 76 200 40 150 30 100 20 50 10 0 '05 '06 '07 '08 TTM 0 '05 '06 '07 '08 TTM TTM data as of September 30, 2008 Cash flow from operations defined as net income plus depreciation and amortization.

Dividends Paid In millions $16 $14 $12 $10 $8 $6 $4 $2 $0 '98 '99 '00 '01 '02 '03 '04 '05 '06 '07 '08 TTM TTM data as of September 30, 2008

Summary Balance Sheet $ in 000 s 30-Sep 2008 (Unaudited) Cash and Short-term Investments $ 31,931 Accounts Receivable 69,965 Inventories 59,495 Other Current Assets 81,874 Total Current Assets 243,265 Property, Plant and Equipment - net 247,101 Other Assets 7,219 Total Assets $ 497,585 Current Liabilities 35,411 Long Term Debt - Other Liabilities 36,618 Total Liabilities 72,029 Total Shareholders' Equity 425,556 Total Liabilities & Shareholders' Equity $ 497,585

Strategy Continue to Grow the ceramic proppant franchise Continue to inform E&P Operators of the value of Conductivity and increase ceramic market share Continue to produce the highest Quality proppants Continue to lead in global Capacity and Distribution to maximize efficiency Develop new products and services through increased R&D HYDROPROP and TAG are recent examples Leverage our consulting services and software businesses to help sell all of our technologies, including the benefits of ceramic proppant conductivity Invest in technology that can expand around fracturing processes, well performance, & reservoir performance

Cash Flow from Operations Reconciliation Results from Continuing Operations $ in 000 s For the years ended Dec 31 9/30/2008 2005 2006 2007 TTM Net Income $ 45,332 $ 52,245 $ 49,641 $ 51,862 Plus: depreciation and amortization 10,750 15,634 19,808 24,275 Cash Flow from Continuing Operations $ 56,082 $ 67,879 $ 69,449 $ 76,137 TTM data as of September 30, 2008 Cash flow from operations equals net income plus depreciation and amortization.