L.B. Foster Company and Portec Rail Products, Inc. Announce Receipt of Second Request from
Department of Justice
PITTSBURGH, PA, — March 22, 2010 — L.B. Foster Company (“L.B. Foster”, NASDAQ: FSTR) and
Portec Rail Products, Inc. (“Portec”, NASDAQ: PRPX) announced that they have each received a formal
second request for additional information and documentary material from the Antitrust Division of the Department
of Justice regarding the Agreement and Plan of Merger dated February 16, 2010 (“Merger Agreement”)
pursuant to which L.B. Foster proposed to acquire Portec through a tender offer and subsequent merger. As a
result of the second request, the waiting period under the Hart-Scott-Rodino (“HSR”) Act, during which the
Antitrust Division is permitted to review the proposed transaction, has been extended until 11:59 p.m., Eastern
Time, on the 10th day after L.B. Foster’s compliance with the second request, or until 11:59 p.m., Eastern Time,
on the next business day following that date, if the 10th day falls on a weekend or federal holiday. L.B. Foster
and Portec expect to promptly respond to the second request, and to continue to work cooperatively with the
Antitrust Division as it conducts its review of the proposed transaction. As a result of the second request, L.B.
Foster presently intends to extend the expiration time of the tender offer (“Offer”) from time to time if the HSR
waiting period has not expired. L.B. Foster does not have the right under the Merger Agreement to unilaterally
extend the expiration time of the Offer beyond June 15, 2010.
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