Chart Industries Wins Hydrocarbon Processing Equipment Contracts.

Business Editors

CLEVELAND--(BUSINESS WIRE)--Nov. 28, 2001

Chart Industries, Inc. (NYSE:CTI) today announced it has received three contracts for cryogenic processing equipment totaling over $12 million. The equipment is for various hydrocarbon processing plants at three different international locations.

Chart received a purchase order from Samsung Engineering, headquartered in Seoul, South Korea, for a cryogenic propane dehydrogenation system with an annual capacity of 450,000 tons. This system, which includes a cold box assembly, Core-in-Kettle(R) heat exchangers, and brazed aluminum heat exchangers, recovers hydrogen from hydrocarbon feed stock using the Catofin separation technology from ABB Lummus Global. The system will be delivered to a job site in Jaubail, Saudi Arabia in the fourth quarter of 2002.

Chart also has been selected to supply the brazed aluminum heat exchangers and cold box assemblies for use in a 600,000 ton per year ethylene facility in China. This equipment is expected to ship in the third quarter of 2002.

In a third major award, Chart received a purchase order for the design and fabrication of a nitrogen rejection unit (NRU) for natural gas purification for delivery in 2002. Purchase order details were not disclosed.

Jim Sadowski, President and Chief Operating Officer of Chart Industries, commented, "These awards reflect the increased activity in the hydrocarbon processing market and the world's shifting view on energy economics and environmental responsibility. Chart's cryogenic technology and strong products serve international customers and job sites on many world-class hydrocarbon processing projects." Mr. Sadowski continued, "These fourth-quarter awards are a real boost to our Process Systems and Equipment business segment. It is very encouraging to see projects we have been actively pursuing finally turn into orders. Chart continues to receive worldwide recognition for the design and fabrication of advanced systems and components for low-temperature gas processing applications. We look forward to benefiting further from the increased activity in the petrochemical and LNG segments of the hydrocarbon processing market."

The cold boxes will be produced at Chart's Process Systems Division facility in New Iberia, Louisiana. Chart's Heat Exchangers Division will manufacture the heat exchangers at its facilities in La Crosse, Wisconsin, and Wolverhampton, England.

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.