KINGSBURY TO SUPPLY MAIN THRUST BEARINGS FOR NEW U.S. NAVY DESTROYERS IN MULTI-YEAR PROGRAM

PHILADELPHIA, PA, February 13, 2002 - Kingsbury, Inc. has received new contracts to supply the Main Thrust Bearings for the next nine DDG 51 Class Guided Missile Destroyers over three years, through 2005. Kingsbury has provided bearings for critical U.S. Navy applications for the last eighty years. Kingsbury has participated in the DDG program since its inception in 1989. The order was negotiated with Ingalls Shipbuilding, Division of Northrop Grumman, Pascagoula MS. The procurement will split between Ingalls and Bath Iron Works, Bath ME. The buyer opted for a multi-year contract to achieve improved manufacturing efficiencies and reduced costs. Each of the two propulsion shafts of the destroyer requires a Main Thrust Bearing assembly, whose primary function is to absorb the propeller thrust forces and distribute them to the hull. To achieve this requirement, Kingsbury provides a large machined housing which bolts to the hull of the ship. A double-acting 43.5-in. outside diameter, eight-pad equalizing thrust bearing is installed inside the housing. In addition, a 20-in. spherically seated journal bearing is included in each housing to support the weight of the shaft components. Kingsbury will also supply temperature sensing devices with the bearing units. Components will be manufactured at Kingsbury's Philadelphia PA facility.