L.B. Foster Company Initiates Quarterly Dividend

PITTSBURGH, March 15, 2011 - L.B. Foster Company (Nasdaq: FSTR) announced today that its Board of
Directors has authorized a $0.025 per share quarterly cash dividend on its
issued and outstanding shares of common stock, payable April 4, 2011 to
shareholders of record at the close of business on March 25, 2011. There are
currently approximately 10.3 million shares outstanding.

L.B. Foster's Chairman of the Board of Directors, Mr. Lee Foster
commented, "The Board is very pleased to put another vehicle in place to add
value for our shareholders."

L.B. Foster Company is a leading manufacturer, fabricator, and
distributor of products for the rail, construction, utility and energy
markets with locations in North America and Europe.

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

The Company wishes to caution readers that various factors could cause
the actual results of the Company to differ materially from those indicated
by forward-looking statements in news releases, and other communications,
including oral statements, such as references to future profitability, made
from time to time by representatives of the Company. Specific risks and
uncertainties that could affect the Company's profitability include, but are
not limited to, general economic conditions, sudden and/or sharp declines in
steel prices, adequate funding for infrastructure projects, production delays
or problems encountered at our manufacturing facilities and the availability
of existing and new piling and rail products. There are also no assurances
that the announced dividend will continue on a quarterly basis should known
or unknown factors negatively impact the financial position of the Company.

Matters discussed may include forward-looking statements that involve
risks and uncertainties. Sentences containing words such as "anticipates,"
"expects," or "will," generally should be considered forward-looking
statements. More detailed information on these and additional factors which
could affect the Company's operating and financial results are described in
the Company's Forms 10-K, 10-Q and other reports, filed or to be filed with
the Securities and Exchange Commission. The Company urges all interested
parties to read these reports to gain a better understanding of the many
business and other risks that the Company faces. The forward-looking
statements contained in this press release are made only as of the date
hereof, and the Company undertakes no obligation to update or revise these
forward-looking statements, whether as a result of new information, future
events or otherwise.

David Russo, +1-412-928-3450, drusso at lbfosterco.com