L.B. Foster Reports First Quarter Net Income of US$1.8 Million

PITTSBURGH, April 22, 2010 - L.B. Foster Company (Nasdaq: FSTR), a leading manufacturer, fabricator,
and distributor of products and services for rail, construction, energy and
utility markets, today reported net income of US$1.8 million or US$0.17 per
diluted share in the first quarter of 2010, compared to US$3.0 million or
US$0.29 per diluted share in the first quarter of 2009.

2010 First Quarter Results

First quarter 2010 net sales decreased 19.3% to US$82.0 million compared
to US$101.6 million in the prior year quarter. Gross profit margin was 14.7%,
an increase of 120 basis points from the prior year quarter principally due
to a US$1.6 million (US$0.10 per diluted share) warranty charge recorded in
the first quarter of 2009 related to certain concrete ties that failed in
track.

Selling and administrative expenses increased US$0.2 million or 1.8% from
last year's quarter due primarily to expenses incurred related to our
acquisition efforts of approximately US$0.5 million (US$0.03 per diluted
share). Excluding these deal costs, selling and administrative costs declined
by US$0.3 million or 3% due primarily to reduced salaries and benefits and
incentive compensation. First quarter interest expense declined by 25.3% from
the prior year quarter due principally to decreased average borrowings and,
to a lesser extent, lower average interest rates. Interest income decreased
by US$0.2 million or 74.9% due to the weak interest rates on high quality
liquid investment products. The Company's effective income tax rate was 34.2%
in the first quarter compared to 36.6% in the prior year quarter primarily
due to an increased domestic manufacturing deduction and reversal of a
reserve previously recorded for an uncertain tax position.

"While sales were down across all segments in the first quarter of 2010,
we were pleased with the business booked during the quarter and our backlog
was substantially higher at the end of the first quarter than it was a year
ago. Additionally, cost controls and pay for performance incentive plans
helped mitigate the negative impact to income. While business activity
continues to be inconsistent, especially in the industrial markets, we have
seen a general strengthening in activity in most of our businesses," stated
Stan Hasselbusch, President and Chief Executive Officer. "Bookings for the
quarter were US$106.1 million compared to US$99.9 million last year, a 6.2%
increase. Backlog was US$204.8 million, up 53.1% from last year, which
corroborates the strengthening mentioned above. I am pleased to report that
our first quarter backlog is the largest we have ever had. In March, we
acquired certain assets of Interlocking Deck Systems International, LLC
("IDSI"), a fabricator of Bridge Products, which will fit nicely in our
existing Fabricated Products Division."

Cash generated from operations was approximately US$7.4 million for the
first quarter of 2010 compared to US$12.1 million of cash used by operations
in the first quarter of 2009, a US$19.5 million improvement. Capital
expenditures were US$1.3 million compared to US$0.6 million in the prior
year. "We fully expect that in 2010, we will generate positive cash flow in
excess of our capital expenditures and debt service. As we operate our
businesses through 2010, we expect to continue to be challenged by a
difficult, highly competitive business environment and will continue to
review measures to control costs, focus on ways to maximize free cash flow,
improve our operational processes and continue to look for opportunities to
leverage our strong balance sheet, all with the goal of maintaining sales and
improving profitability," noted Mr. Hasselbusch as he concluded, "We continue
to have strong liquidity and access to credit and we continue to look for
value through synergistic and accretive acquisitions."

L.B. Foster Company will conduct a conference call and webcast to discuss
its first quarter 2010 operating results and general market activity and
business conditions on Thursday, April 22, 2010 at 11:00am ET. The call will
be hosted by Mr. Stan Hasselbusch, President and Chief Executive Officer.
Listen via audio on the L.B. Foster web site: www.lbfoster.com, by
accessing the Investor Relations page. The replay can also be heard via
telephone at (888) 286-8010 by entering pass code 67148601.

There are no assurances regarding the timing of the closing of the merger
agreement 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. 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.

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, additional concrete
tie defects and the availability of existing and new piling and rail
products. There can be no assurances that the purchase of IDSI will result in
improved operating results.

There are also no assurances that the Canadian Pacific Railway will
proceed with the Powder River Basin project and trigger any contingent
payments to L.B. Foster related to the Company's sale of its investment in
the DM&E. Matters discussed in such communications are 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.

                  L. B. FOSTER COMPANY AND SUBSIDIARIES
             CONDENSED STATEMENTS OF CONSOLIDATED OPERATIONS
                 (In Thousands, Except Per Share Amounts)

                                                       Three Months Ended
                                                           March 31,
                                                           ---------
                                                        2010         2009
                                                        ----         ----
                                                          (Unaudited)

    NET SALES                                      US$82,002     US$101,613

    COSTS AND EXPENSES:
    Cost of goods sold                                69,929       87,931
    Selling and administrative expenses                9,193        9,027
    Interest expense                                     245          328
    Loss on joint venture                                147            -
    Interest income                                      (74)        (295)
    Other income                                        (102)        (143)
                                                      ------       ------
                                                      79,338       96,848
                                                      ------       ------

    INCOME BEFORE INCOME TAXES                         2,664        4,765

    INCOME TAX EXPENSE                                   911        1,746
                                                         ---        -----

    NET INCOME                                      US$1,753     US$3,019
                                                      ======       ======

    BASIC EARNINGS PER COMMON SHARE                  US$0.17      US$0.30
                                                       =====        =====

    DILUTED EARNINGS PER COMMON SHARE                US$0.17      US$0.29
                                                       =====        =====

    AVERAGE NUMBER OF COMMON SHARES
    OUTSTANDING - BASIC                               10,172       10,203
                                                      ======       ======

    AVERAGE NUMBER OF COMMON SHARES
    OUTSTANDING - DILUTED                             10,315       10,339
                                                      ======       ======

    Contact: David J. Russo
    Phone: +1-412-928-3417
    FAX: +1-412-928-7891
    Email: investors@LBFosterCo.com

David J. Russo, +1-412-928-3417, FAX: +1-412-928-7891, investors at LBFosterCo.com