November 2001

We are pleased to announce:

Dear Sirs,

We write today to inform you of the merger of the above two companies, each of which has over 75 years experience in utility and industrial heat recovery. The new company, with 3 locations in Europe has been merged to provide our customers with better access to a diversified product line that will meet all of your heat recovery needs.

From this date forward the former ALSTOM Power Air Preheater GmbH will act as:

Our name has changed, but our commitment to our customers has not. Your known contacts from the former ALSTOM Power Air Preheater GmbH will continue to be at your service. All your existing contractual obligations will be met by the merged company with the same excellence you have come to expect and deserve. The divisions main office will maintain its location in Bammental, Germany.

I would like to thank you for your co-operation and understanding relating to these changes, and take this opportunity to offer our services should you have any air preheater or gas/gas heater parts or service requirements.

Wishing you a Merry Christmas and a prosperous New Year.

Yours truly,