1. We Work to Build a Truly Great Company
We believe that the excitement inherent in the culture of ultra high performance will differentiate us from our competitors, who, while fine companies in their own right, simply will find it impossible to keep up with the fighting Clan MacDermid.

2. Our form is corporate, our attitude is partnership
Unlike many public companies, our employees and Directors own close to 18% of the shares, so, we obviously think as owners. We hope that you consider your investment in MacDermid as being a part owner of a business, much as you would if you owned a small business in partnership with your close friend or family. You would not be concerned about the evaluation of that small business weekly or monthly. Many employees, including your CEO, have the vast majority of our net worth in MacDermid stock. We intend to be very long term holders, thinking in generational terms. We desire to partner with like-minded individuals and institutions. We will not respond to short term pressures from the market.

3. We focus to build intrinsic value, per share
We define intrinsic value as the present value of free cash flow, measured per share. Cash flow will be invested in growth opportunities. We will build in significant margin for error in investment assumptions. We have no interest in top line growth for growth's sake. Per share cash flow is what counts.

4. Personal and Corporate Responsibility
MacDermid will demonstrate the highest standards of personal and corporate ethics and responsibility, with special emphasis on our environment. We take seriously our leadership commitment to the communities in which we do business.

5. Care of our people is a top priority
We know to build one of the world's greatest industrial companies requires an unusual partnership with the people charged with making the vision a reality. We are guided by the MacDermid philosophy, including our clear statement of commitment to our people, and our expectations of their commitment to MacDermid. We maintain policies that encourage long, productive service. We avoid short term policies like layoffs and restructuring simply to make the current quarter or year numbers. That's not to say that we will not have reductions in staffing based on performance, or if we feel the long term health of the business requires us to do so. But even then we will do so with great reluctance. Our people are our most important asset. We treat them as such by investing heavily in training and education and management development.

6. Long term investment horizon
We will aggressively fund sound internal growth opportunities mostly in research and market development regardless of short term impact. We will fund these opportunities when the time is right, not necessarily when it is convenient. Our internal investment opportunities normally offer an exceptional return, but often require multi-year horizons. We will avoid the stop - start method of investing, which is typical of a short term mentality.

7. Low cost operating structure
We know that our ability to invest aggressively requires us to have a cost structure lower than our competitors. Investing AND lowering our current costs constantly is a core principle of our company.

8. High operating margins
Growth opportunities will be passed through a margin filter prior to investment.

9. Low capital expenditures
We invest shareholder funds in high return assets after a healthy margin for error. Bricks and mortar have no attraction if they will not produce a high return.

10. Capital structure
Cost of capital is an important consideration. Our ability to generate relatively high amounts of cash provides more options than is typical. We can carry somewhat more debt, we can acquire companies for cash, or invest in internal growth. . We will issue common stock only when we receive at least as much in intrinsic value as we give.

11. Dividends
Returning cash in the form of dividends has become more attractive as dividend tax rates for our shareholders have been reduced. We will always consider this option when weighing investment decisions.

12. Accounting
We will be candid in our reporting to you. We will tell you the business facts that we would want to know if the positions were reversed, while safeguarding information which would aid our competitors. Our accounting will always be conservative, with known liabilities fully reserved.

13. Reporting
We will be communicating with you in several ways. Through our annual report, we will try to give all shareholders as much value - defining information as possible. At our annual meeting we will spend as much time as necessary to provide information as possible and answer questions. The Contact Us section of the website provides shareholders the opportunity to submit questions directly to the CEO. We will answer questions honestly and as promptly as practicable. In all of our communications, we try to make sure that no shareholder gets an edge. Our goal is to have all of our shareholders updated at the same time.

14. Fair value
To the extent possible, we would like each MacDermid shareholder to record a gain or loss in market value that is proportional to the gain or loss in per-share intrinsic value. Obviously we cannot control MacDermid's share price, but by our policies and communications, over time, we believe we are likely to attract long term investors who seek to profit strictly from the progress of the company.