Chart Industries, Inc. Extends Tender Offer and Consent Solicitation for the Outstanding 12-1/2% Senior Secured Notes Due 2002 Issued by MVE, Inc.

CLEVELAND--(BUSINESS WIRE)--March 29, 1999--Chart Industries, Inc. (NYSE:CTI) today announced that its wholly owned subsidiary Chart Acquisition Company (the "Company") has extended the expiration date of its tender offer for the outstanding 12-1/2% Senior Secured Notes due 2002 issued by MVE, Inc. (the "Notes") until midnight, New York City time, on April 8, 1999, unless terminated or further extended.

As a result of the extension of the expiration date, the purchase price for the Notes will be fixed on April 6, 1999, when the yield on the reference U.S. Treasury Note will be determined (or, if the tender offer is further extended, the second business day prior to the expiration date).

The tender offer is being extended so that the payment date for tendered Notes coincides with the anticipated closing date of the MVE Holdings, Inc. acquisition. The Company said that of the $112 million in aggregate principal amount of Notes outstanding, more than $111 million in aggregate principal amount of Notes have been tendered as of the close of business on March 26, 1999.

Additional information concerning the tender offer and consent solicitation may be obtained from NationsBanc Montgomery Securities LLC, Liability Management Group, at 888-292-0070.

This press release is neither an offer to purchase nor a solicitation of an offer to sell the Notes. The tender offer and consent solicitation are made by an Offer to Purchase and Consent Solicitation dated February 17, 1999, as amended.

This press release contains forward-looking statements based on current expectations that are covered under the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Actual results and events related to the transaction may differ from those anticipated as a result of risks and uncertainties that include, but are not limited to, unanticipated slowdowns in Chart's major markets, the impact of competition, the effectiveness of operational changes expected to increase efficiency and productivity, worldwide economic and political conditions, foreign currency fluctuations that may affect worldwide operations, the timing of receipt of regulatory approvals and satisfaction of other conditions to the MVE Holdings, Inc. acquisition and the risks described in Chart's filings with the Securities and Exchange Commission. Chart undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

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