KINGSBURY SIGNS EXCLUSIVE BEARING REPAIR CONTRACT FOR LJUNGSTROM® AIR PREHEATERS

PHILADELPHIA, PA, September 20, 2002 - Kingsbury, Inc. has been authorized by Alstom Power Inc., Air Preheater Company as the exclusive repair facility for BV-type thrust bearings on Ljungstrom® Air Preheaters. This is a four-year renewable contract. The Kingsbury BV-type thrust bearings installed in Ljungstrom Air Preheaters can carry several million pounds of load and range in diameter from 25 to 96 inches. When used in these types of applications, the bearings typically operate at speeds lower than one revolution per minute and up to approximately five rpm. Air Preheaters consist of a large number of heat transfer plates arranged like the spokes of a wheel, which slowly rotate from a hot side exhaust environment into a cold side intake. The cold, intake air is thus "pre-heated", improving efficiencies and reducing wasted process energy. The weight of these units is vertically supported by Kingsbury thrust bearings.