KINGSBURY, INC. SIGNS EXCLUSIVE RELATIONSHIP WITH AIR PREHEATER COMPANY

Philadelphia, PA, February 8, 2001 - Kingsbury, Inc. has announced the multi-year extension of an agreement with Air Preheater Company, a division of Alstom Power, Inc., which recognizes Kingsbury as the sole supplier for BV type thrust bearings, aftermarket parts, and repairs. Michael J. Brawley, Kingsbury's Manager of Domestic Sales, made the announcement on October 1, 2000, saying "The relationship between Air Preheater and Kingsbury is based on our mutual commitment to design excellence and 100% customer satisfaction." Under the agreement, Kingsbury agrees to provide 24-hour turnaround of emergency repair orders for BV thrust bearings and parts following approval by ABB, and pledges to strive for zero defects. Air Preheater Company is the leading supplier of engineered products, services and technologies for heat recovery systems. The company serves both U.S. domestic and international installations. Kingsbury's relationship with Air Preheater covers its worldwide operations. The bearings covered in this contract represent some of the most demanding applications for fluid-film bearings. Loads in excess of 1,000,000 lbs. rotating at extremely slow speeds (to under 1 rpm) use the Kingsbury principle. These bearings require stringent machining tolerances, runner and thrust shoe surface finishes, and design competence.