L.B. Foster Company and Portec Rail Products, Inc. Announce Sale of Certain Assets

By L.b. Foster Company, PRNE
Wednesday, December 8, 2010

Koppers, Inc. to Purchase Portec's Rail Joint Business

PITTSBURGH, December 10, 2010 - L.B. Foster Company ("L.B. Foster", Nasdaq: FSTR) and Portec Rail
Products, Inc. ("Portec", Nasdaq: PRPX) , announce the signing of an Asset
Purchase Agreement ("APA") with Koppers, Inc., a wholly-owned subsidiary of
Koppers Holdings Inc. ("Koppers", NYSE: KOP). Koppers will purchase the
assets of Portec's rail joint business primarily located at Portec's
Huntington, WV Plant. Revenues for this business in 2010 are estimated at
approximately $22 million. This transaction is expected to close by year-end.

Consummation of the divestiture is subject to various conditions
including final approval by the Department of Justice Antitrust Division
("DOJ"), entering into a consent order by Foster and Portec to be filed and
approved by a federal district court judge and Foster's subsidiary notifying
the depositary for its tender offer for Portec's shares that it is accepting
the tendered shares for payment.

Stan L. Hasselbusch, President and CEO of L.B. Foster stated, "We are
very pleased to announce the completion of this critical step in our
acquisition of Portec. We have worked diligently with the DOJ to find an
acceptable solution to their objections to our acquisition. We are also
pleased to be able to sell these assets to Koppers, another Pittsburgh based
supplier to the rail industry."

Mr. Hasselbusch further stated, "We appreciate the tireless efforts of
the DOJ to cooperate with L.B. Foster and Koppers to reach completion of this
APA, and we look forward to their expedited final approval of the divestiture
and their filing of the consent order papers."

Upon judicial approval, the antitrust condition in our tender offer will
be satisfied and L.B. Foster will be able to close the tender offer and
acquire Portec assuming the other conditions of the tender offer are

About Portec Rail Products, Inc.

Established in 1906, Portec serves both domestic and international rail
markets by manufacturing, supplying and distributing a broad range of rail
products, rail anchors, rail spikes, railway friction management products and
systems, rail joints, railway wayside data collection and data management
systems and freight car securement systems. Portec also manufactures material
handling equipment for industries outside the rail transportation sector
through its United Kingdom operation. Portec operates through its four global
business segments: Railway Maintenance Products (Salient Systems), Shipping
Systems, Portec Rail Nova Scotia Company in Canada (Kelsan friction
management, rail anchor and spike products), and Portec Rail Products, Ltd.
in the UK (material handling and Coronet Rail products). Portec Rail Products
is headquartered in Pittsburgh, PA.

About L.B. Foster Company

L.B. Foster is a leading manufacturer, fabricator and distributor of
products and services for the rail, construction, energy and utility markets
with approximately 30 locations throughout the United States. The Company was
founded in 1902 and is headquartered in Pittsburgh, PA. Please visit our
Website: www.lbfoster.com.

Forward-Looking Statements

This press release contains "forward-looking statements." Such statements
include, but are not limited to, statements about the anticipated timing of
the closing of the transaction involving L.B. Foster and Portec and the
expected benefits of the transaction, including potential synergies and cost
savings, future financial and operating results, and the combined company's
plans and objectives. In addition, statements made in this communication
about anticipated financial results, future operational improvements and
results or regulatory approvals are also forward-looking statements. These
statements are based on current expectations of future events. If underlying
assumptions prove inaccurate or unknown risks or uncertainties materialize,
actual results could vary materially from L.B. Foster's and Portec's
expectations. Risks and uncertainties include the satisfaction of closing
conditions for the acquisition, including clearance under the
Hart-Scott-Rodino Antitrust Improvements Act; the tender of sixty-five
percent of the outstanding shares of common stock of Portec Rail Products,
Inc., calculated on a fully diluted basis; the possibility that the
transaction will not be completed, or if completed, not completed on a timely
basis; the potential that market segment growth will not follow historical
patterns; general industry conditions and competition; business and economic
conditions, such as interest rate and currency exchange rate fluctuations;
technological advances and patents attained by competitors; and domestic and
foreign governmental laws and regulations. L.B. Foster can give no assurance
that any of the transactions related to the tender offer will be completed or
that the conditions to the tender offer and the merger will be satisfied. A
further list and description of additional business risks, uncertainties and
other factors can be found in Portec's Annual Report on Form 10-K for the
fiscal year ended December 31, 2009, as well as other Portec SEC filings and
in L.B. Foster's Annual Report on Form 10-K for the fiscal year ended
December 31, 2009 as well as other L.B. Foster SEC filings. Copies of these
filings, as well as subsequent filings, are available online at www.sec.gov,
www.portecrail.com and www.lbfoster.com. Many of the factors that will
determine the outcome of the subject matter of this communication are beyond
L.B. Foster's or Portec's ability to control or predict. Neither L.B. Foster
nor Portec undertakes to update any forward-looking statements as a result of
new information or future events or developments.

Important Additional Information

The tender offer (the "Offer") described in this press release for all of
the outstanding shares of common stock of Portec has been made pursuant to a
Tender Offer Statement on Schedule TO, containing an offer to purchase, a
letter of transmittal and other documents relating to the Offer (the "Tender
Offer Documents"), which L.B. Foster and Foster Thomas Company, a
wholly-owned subsidiary of L.B. Foster, filed with the Securities and
Exchange Commission (the "SEC") and first mailed to Portec stockholders on
February 26, 2010. Also on February 26, 2010, Portec filed with the SEC a
related Solicitation/Recommendation Statement on Schedule 14D-9, which was
amended and restated in its entirety by Amendment No. 9 to the
Solicitation/Recommendation Statement on Schedule 14D-9 that Portec filed
with the SEC on May 18, 2010 (the "Solicitation/Recommendation Statement").
This press release is for informational purposes only and does not constitute
an offer to purchase shares of common stock of Portec, nor is it a substitute
for the Tender Offer Documents. Portec stockholders are strongly advised to
read the Tender Offer Documents, the Solicitation/Recommendation Statement
and other relevant materials as they become available, because they contain
important information about the Offer that should be read carefully before
any decision is made with respect to the Offer.

Portec stockholders can obtain copies of these materials (and all other
related documents filed with the SEC), when available, at no charge on the
SEC's website at www.sec.gov. In addition, investors and stockholders will be
able to obtain free copies of the Tender Offer Documents by mailing a request
to: Jeff Kondis, Manager, Corporate Marketing, L.B. Foster Company, 415
Holiday Drive, Pittsburgh, PA 15220, or by email to: jkondis@lbfosterco.com,
and free copies of the Solicitation/Recommendation Statement by mailing a
request to: John N. Pesarsick, Chief Financial Officer, Portec Rail Products,
Inc., 900 Old Freeport Road, Pittsburgh, PA 15238, or by email to:
jpesarsick@portecrail.com. Investors and Portec stockholders may also read
and copy any reports, statements and other information filed by L.B. Foster
or Portec with the SEC, at the SEC public reference room at 100 F Street,
N.E., Washington, DC 20549. Please call the SEC at 1-800-SEC-0330 or visit
the SEC's website for further information on its public reference room.

Media Contact: David Russo, +1-412-928-3450, drusso@lbfosterco.com

David Russo, L.B. Foster Company, +1-412-928-3450, drusso at lbfosterco.com

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