Free cash flow is not a measure determined in accordance with U

While the challenges of the currentmarketplace are impacting our near-term results, we firmly believe that theyalso provide us with significant opportunities to take additional market shareas we continue to make prudent investments in the Company through the hiring oftop associates, continued geographic expansion, investment in value addingtechnologies, and strengthening our position with customers and suppliers. Webelieve that MSCs ability to provide its customers with what they need, whenthey need it, makes us the choice for lowest total cost solution and supplychain security. We are confident that our highly experienced management teamwill successfully navigate the current environment, positioning us to growsignificantly when the markets recover." For the fiscal 2009 second quarter, the Company expects net sales to be between$354 million and $366 million, and expects diluted earnings per share for thefiscal 2009 second quarter to be between $0.39 and $0.43. Expectations are partially based on MSCs financialperformance in the first several weeks of the second quarter of fiscal 2009. TheCompany cautioned that its guidance should be viewed in the context of theunprecedented market conditions and the resulting variability in actual resultsversus expectations. The management of MSC will host a conference call today, at 11:00 a.m. EasternTime, to review the Companys results for the fiscal 2009 first quarter, and tocomment on current operations.

A replay of the conference call will be available on theCompanys website through January 15, 2009. Note 1 - Free cash flow is defined as net cash provided by operating activitiesless expenditures for property, plant and equipment as shown on the Companyscondensed consolidated statements of cash flows. Net cash provided by operatingactivities during the fiscal 2009 first quarter was $72.4 million. Expendituresfor property, plant and equipment during the fiscal 2009 first quarter was $6.8million.

Management considers free cash flow to be an important indicator of theCompanys financial strength and the ability to generate liquidity because itreflects cash generated from operations that can be used for strategicinitiatives, dividends, debt repayment and repurchases of the Companys stock.Free cash flow is not a measure determined in accordance with U.S. generallyaccepted accounting principles ("GAAP"), and may not be defined and calculatedby other companies in the same manner. Free cash flow should not be considered asubstitute for "Operating income," "Net income," "Net cash flows provided byoperating activities" or any other measure determined in accordance with GAAP. About MSC Industrial Direct Co., Inc.MSC Industrial Direct Co., Inc. MSC distributes approximately590,000 industrial products from approximately 3,000 suppliers to approximately364,000 customers. In-stock availability is approximately 99, with next daystandard delivery to the contiguous United States on qualifying orders up until8:00 p.m Eastern Time. MSC reaches its customers through a combination ofapproximately 27 million direct-mail catalogs and CD-ROMs, 97 branch salesoffices, 912 sales people, the Internet and associations with some of theworld's most prominent B2B e-commerce portals.