Exhibit 99.2

Ameron Reports Record Sales and Earnings for 2005

    PASADENA, Calif.--(BUSINESS WIRE)--Jan. 26, 2006--Ameron
International Corporation (NYSE:AMN) today reported record sales from
consolidated operations of $704.6 million and record net income of
$32.6 million or $3.80 per diluted share for the fiscal year ended
November 30, 2005. The record sales of $704.6 million compared to
sales of $605.9 million in 2004. In addition, Ameron's unconsolidated
joint-venture companies had sales of $308 million in 2005 compared to
$280 million in 2004.
    The record earnings of $3.80 per share achieved in 2005 compared
to earnings of $1.59 per share in 2004. Special charges totaling $14.9
million after taxes ($1.77 per share) related to the termination of
two executive benefit plans were recognized in 2004.
    "Ameron's performance in 2005 was outstanding, and the sales and
earnings growth was well balanced, with all segments contributing to
the increases," commented James S. Marlen, Ameron's Chairman,
President and Chief Executive Officer. "All businesses achieved
year-over-year sales improvements with the Water Transmission,
Infrastructure Products and Fiberglass-Composite Pipe Groups reaching
record results. We are pleased with the Company's overall financial
performance."
    Sales in the fourth quarter of 2005 totaled $196.5 million and
earnings totaled $1.53 per diluted share. These results compared with
sales of $170.3 million and earnings of $2.13 per share during the
fourth quarter of 2004. Earnings in the fourth quarter of 2004
included a pretax gain of $13.1 million on the sale of excess property
sold in connection with a consolidation program within the Water
Transmission Group.
    The Fiberglass-Composite Pipe Group achieved record sales and
segment income in 2005. The higher sales, compared to 2004, were due
principally to increased demand for onshore oilfield piping, primarily
in the U.S. and Canada, continued strength in the marine market, and
growth in industrial applications in the Middle East supplied from
Ameron's operations in Singapore and Malaysia. The industrial market
demand in the U.S. and Europe was soft while the U.S. fuel-handling
market showed steady growth, due primarily to new industry
requirements. Fourth-quarter 2005 sales and segment income improved
compared to the fourth quarter of 2004. Construction of Ameron's new
state-of-the-art fiberglass pipe plant in Malaysia has been completed,
and final start-up procedures are underway. Production operations are
scheduled to begin early in the second quarter of 2006. The order
backlog for the Fiberglass-Composite Pipe Group is at a high level,
and the outlook for the business is favorable, with particular
strength expected in the marine, offshore and oilfield markets
worldwide.
    The Water Transmission Group had record sales in 2005, and segment
income was up significantly compared to 2004, which had been impacted
by a short-term labor strike. The improved performance was due
primarily to a major sewer upgrade project in Northern California and
the increased demand for protective linings products. Also
contributing to the sales increase was the completion of Ameron's
initial wind tower order received from a leading wind-turbine
manufacturer. Fourth-quarter 2005 sales were slightly higher than in
the fourth quarter of 2004; however, income was lower due to a mix of
projects with lower profit margins and costs associated with some
underutilized plants. The Water Transmission Group's core water and
wastewater markets in the western U.S. have slowed, due to a cyclical
decline in the market and fiscal constraints. The Group, however, had
a solid backlog of $129 million entering 2006; and, in addition, the
Group plans to continue its diversification program and will supply
wind towers to the growing wind-energy market and will introduce a
sand-core fiberglass pipe for the national water and wastewater
market. While the Water Transmission Group is not expected to do as
well in 2006 as in 2005, the long-term outlook for the Water
Transmission business continues to be positive, based on the need for
upgraded and expanded water and energy infrastructure, both regionally
and nationally.
    The Infrastructure Products Group had significantly higher sales
and income in 2005 compared to 2004. Both Ameron's Hawaiian and Pole
Products' operations had improved performance due primarily to a
strong construction sector in Hawaii and throughout the U.S. The
construction sectors served by Ameron's Hawaiian ready-mix concrete
and aggregates operations on Oahu and Maui, including residential,
military and commercial, experienced favorable conditions. In
addition, the Hawaiian operations' sales were adversely affected by a
labor strike in the first half of 2004. The decorative concrete pole
market was strong, primarily due to the continued demand in
residential construction in California and in the Southeastern U.S.
Demand for steel poles for traffic signal and lighting applications
also improved due to increased transportation and infrastructure
spending in the U.S. Fourth-quarter 2005 sales and income were higher
than in the fourth quarter of 2004 as a result of the strong
construction markets. Looking forward, Infrastructure Products should
continue to benefit from the favorable construction climate in Hawaii,
increased infrastructure spending in the U.S., and steady demand for
residential street-lighting products, especially in Southern
California and the Southeast region.
    The Performance Coatings & Finishes Group had higher sales and
income in 2005 compared to 2004. The sales growth was concentrated in
the U.S. and Australasia, while the European market was flat. The
sales improvement in the U.S. was due to increased demand for
protective coatings in the industrial maintenance sector, while the
marine and offshore markets remained steady. The higher sales in
Australia and New Zealand were attributable principally to favorable
foreign currency exchange rates. Performance Coatings & Finishes'
sales also increased due to a worldwide selling price program aimed at
recovering the higher raw material and packaging material costs.
Income was higher in 2005, primarily as a result of a pretax gain of
$1.8 million on the sale of excess real property in the U.K. Excluding
the property sales, income was lower than in 2004 due primarily to
competitive pressures and soft-market demand in Europe. Fourth-quarter
2005 sales were up significantly compared to 2004 as all coatings
operations experienced improved sales. Income in the fourth quarter
also was higher than in 2004. There are positive indicators that key
coatings markets in the U.S. have strengthened. In addition, the
Performance Coatings & Finishes Group is expected to participate in
renewed activity from reconstruction in the offshore, chemical and
industrial infrastructure in the U.S. Gulf Coast. Overall, the outlook
for the business is improving.
    TAMCO, Ameron's 50%-owned steel mini-mill in Southern California,
had higher sales in 2005 than in 2004. Net income was lower in 2005,
although still at a historically high level. The sales increase was
attributable to continued high construction demand in the western U.S.
and to higher prices. The decline in earnings was due to higher
conversion costs, principally energy. Sales and earnings were higher
in the fourth quarter of 2005 compared to 2004. The outlook for TAMCO
continues to be positive as demand for steel rebar is forecast to
remain high.
    James Marlen concluded, "Ameron's core operations and TAMCO
performed exceptionally well in 2005. We have continued to develop
earnings momentum while successfully generating total returns for our
shareholders of nearly 200% over the past five years. Looking ahead,
although the Water Transmission Group may experience a temporary
softening in its performance, we anticipate solid results for Ameron
short-term and expect to achieve steady, long-term earnings growth."
    Ameron International Corporation is a multinational manufacturer
of highly-engineered products and materials for the chemical,
industrial, energy, transportation and infrastructure markets. Traded
on the New York Stock Exchange (AMN), Ameron is a leading producer of
water transmission lines; high-performance coatings and finishes for
the protection of metals and structures; fiberglass-composite pipe for
transporting oil, chemicals and corrosive fluids and specialized
materials and products used in infrastructure projects. The Company
operates businesses in North America, South America, Europe,
Australasia and Asia. It also participates in several joint-venture
companies in the U.S. and the Middle East.

    Cautionary statement for purposes of the "Safe Harbor" provisions
of The Private Securities Litigation Reform Act of 1995: Any
statements in this report that refer to the forecasted, estimated or
anticipated future results of Ameron International Corporation
("Ameron" or the "Company") are forward-looking and reflect the
Company's current analysis of existing trends and information. Actual
results may differ from current expectations based on a number of
factors affecting Ameron's businesses, including competitive
conditions and changing market situations. Matters affecting the
economy generally, including the state of economies worldwide, can
affect Ameron's results. Forward-looking statements represent the
Company's judgment only as of the date of this report. Since actual
results could differ materially, the reader is cautioned not to rely
on these forward-looking statements. Moreover, Ameron disclaims any
intent or obligation to update these forward-looking statements.

    CONTACT: Ameron International Corporation
             James S. Marlen, 626-683-4000
             Gary Wagner, 626-683-4000
             James R. McLaughlin, 626-683-4000