Stan L. Hasselbusch to Retire as CEO of L.B. Foster Co.

PITTSBURGH, May 23, 2011 -

The L.B. Foster Co. (NASDAQ: FSTR) today announced that Stan L.
Hasselbusch, President and Chief Executive Officer, plans to retire on
December 31, 2011. Mr. Hasselbusch joined the company in 1972 and held
successfully progressing positions ultimately becoming President and CEO in
2002. Lee B. Foster, Chairman of the Board, stated, "Stan has done an
outstanding job during his long career with L.B. Foster and on behalf of the
Board of Directors and all our employees I want to convey our sincere
appreciation for so many significant contributions that have left an
indelible mark on the Company. Stan indicated that he had been contemplating
this move for some time and felt that the end of this year, with the Portec
acquisition successfully integrated, would be the perfect time to make the
move."

(Logo: photos.prnewswire.com/prnh/20101222/MM21387LOGO)

Mr. Foster went on to say, "Stan's legacy is embodied in the significant
increase in shareholder value achieved during his tenure as well as the
exceptional management team he assembled and the institution of continuous
improvement as part of the corporate culture."

The Chicago based firm Crist/Kolder Associates has been retained to lead
the search for Mr. Hasselbusch's successor and Mr. Hasselbusch has agreed to
remain through the transition.

About L.B. Foster Company

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

    Contact:
    Brian Kelly                   Phone: +1-412-928-3417
    Vice President                Email: Investors@Lbfosterco.com
    Human Resources               Website: www.lbfoster.com

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