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KINGSBURY REPAIR & SERVICE DIVISION ADDS WEST COAST SALES MANAGER

HATBORO, PA, January 24, 2003 - Kingsbury Repair and Service Division recently hired Mike McCoy as West Coast Sales Manager. He will be working on hydroelectric projects with customers such as the U.S. Army Corps of Engineers and the Bureau of Reclamation as well as large private power generation companies in that region. McCoy will handle sales of repair and replacement parts for turbine thrust and guide bearings. McCoy comes to Kingsbury from M Squared Design & Manufacturing, where he served as manager for their Agricultural Systems division. He has also worked for Precision Machine & Supply's Spokane office, where his duties included Western Regional Sales Agent for Voith-Siemens Hydro, Inc. Headquartered in Philadelphia, PA USA Kingsbury designs and manufactures a wide variety of standard and custom thrust and journal bearings for rotating equipment applications, including gas and steam turbines, compressors, gearboxes, pumps, air preheaters and ship propulsion systems. They operate three plants in the United States and provide bearings to a global customer base both directly and through a network of international agents and representatives. Kingsbury supplied the first tilting-pad, fluid-film bearings for hydroelectric applications in 1912. Today, the company maintains its position as the industry leader through continuing research and development, a commitment to engineering integrity, and world-class customer service.