Chart Industries Awarded Heat Exchanger Contract Through Its ALTEC Subsidiary.

MAYFIELD HEIGHTS, Ohio--(BUSINESS WIRE)--Dec. 2, 1998--Chart Industries, Inc., (NYSE:CTI) today announced that its ALTEC International subsidiary was recently awarded a large contract from ABB Lummus Global of Bloomfield, New Jersey, to supply brazed aluminum heat exchangers and related assemblies for use in construction of the world's largest single-train steam cracker plant. This order is expected to ship during the third quarter of 1999.

This new olefins complex, which will be located in Port Arthur, Texas, is a joint venture between BASF Corporation of Mount Olive, New Jersey, and FINA, Inc. of Dallas, Texas. It will be capable of producing 1.9 billion pounds of ethylene annually and is expected to be completed late in 2000. ABB Lummus Global will deliver under license the process technology as well as provide the engineering, procurement and the supply of all equipment and material.

"We wanted to be a part of this project and will supply ALTEC heat exchangers that feature the latest advancements in heat transfer technology," stated Jim Sadowski, President and Chief Operating Officer of Chart Industries. "This contract award is a technological win for Chart and ALTEC and reflects the continued strength of the hydrocarbon processing market."

Chart Industries Inc. manufactures standard and custom-built industrial process equipment primarily for low-temperature and cryogenic applications. Headquartered in Mayfield Heights, Ohio, Chart has domestic operations located in Arkansas, California, Colorado, Louisiana, Massachusetts, New Hampshire, Ohio, Pennsylvania and Wisconsin, and a European operation located in Wolverhampton, England.

For more information on Chart Industries, Inc., via the Internet, visit our Web site at www.chart-ind.com.