Chart Industries Builds China's First Liquid Natural Gas Alternative Fuel Vehicle Project.

Business Editors

CLEVELAND--(BUSINESS WIRE)--Nov. 27, 2001

Chart Industries, Inc., (NYSE:CTI) today announced that its NexGen Fueling Division (NexGen) has shipped its first liquid natural gas (LNG) fueling station and LNG vehicle tanks for installation in Beijing, People's Republic of China.

The LNG fueling station and vehicle project is being constructed for the Beijing Shouke Zhongyuan Clean Fuel Technology Development Co., Ltd., which is a partnership formed by the Zhingyuan Petroleum Exploration Bureau of the China Petroleum and Chemical Corporation (SINOPEC), the Beijing Municipal Commission for Science & Technology, and the Beijing City Bus Company.

Chart's state-of-the-art LNG fueling station can fuel up to 75 vehicles per day and will initially support a test fleet of 17 city buses and 3 taxicabs in Beijing. NexGen has also supplied the LNG onboard fueling systems for the buses. David Barr, President of NexGen, stated, "We have been working with the Chinese for several years and are very pleased to have been selected as the company to help Beijing in its efforts to implement a new LNG vehicle fueling infrastructure to improve air quality in Beijing. Recently, the Beijing government reported that it would be spending billions of dollars to improve Beijing's air quality in preparation for the 2008 Summer Olympics. The announcement of the conversion of the 8,000 Beijing city buses to natural gas is a portion of this massive air quality improvement campaign. This demonstration project is the first of a potential series of LNG fuel stations in Beijing that are expected to fuel a significant percentage of the buses and vehicles currently operating in Beijing."

There are approximately 30 compressed natural gas (CNG) stations operating today in Beijing. The LNG program is being implemented because it offers transit vehicles longer driving range and because LNG fueling stations have lower operating and maintenance costs. Mr. Barr further added, "There is limited gas pipeline infrastructure in Beijing, which will limit the growth of the CNG approach. SINOPEC is currently building an LNG liquefier near Beijing to supply LNG for this program and future LNG projects."

Jim Sadowski, Chart's President and Chief Operating Officer, further commented that, "Chart's market potential in China is large. We are well positioned to capitalize on this opportunity of building the LNG fueling infrastructure for alternative fuels in China because of our LNG experience and technology. Our Process Systems Division has also supplied China with cold box fabrication and engineering studies. Our two tank manufacturing facilities in China also demonstrate Chart's involvement and commitment to the emerging China market."

Chart Industries, Inc. manufactures standard and custom-built industrial process equipment primarily for low-temperature and cryogenic applications. Headquartered in Cleveland, Ohio, Chart has domestic operations located in 13 states and international operations located in Australia, China, Czech Republic, England, Germany and Singapore. For more information on Chart Industries, Inc., visit the Company's home page web site at www.chart-ind.com.