PIC Announces O&M Contract with a New England University

ATLANTA (Aug. 18, 2005) - The PIC Companies is pleased to announce its successful award and mobilization of an Operations and Maintenance Services contract at a major New England University. The University’s Central Utility Plant consists of a new 30 MW cogeneration plant and existing heating and cooling plant located on its campus. The facility will provide electricity, heating and cooling for the students and faculty of the University. The project scope provides for Management responsibility including full Mobilization Services, training, daily operations and routine maintenance.

“PIC brings its Cogeneration operations and maintenance programs and proven execution experience to the University and is proud to have been awarded this highly competitive tender. We are confident that our O&M philosophies, processes and tools will be instrumental in the success of the Cogeneration and Central Utility Plant and we will support the University with its growth plans for the future” stated James R. Flandreau, Chairman of The PIC Companies.

The PIC Companies, headquartered in Marietta (Atlanta), Georgia and established in 1988, is a leader in providing global service solutions to the energy industry. Offering full third party O&M and outage services, turnkey commissioning, startup, and complete staffing solutions for all aspects of project development and execution. From concept to execution, from petrochemical & refining to power generation, PIC provides value added services with a focus on quality, safety and optimum results. With over 4,500 projects executed worldwide in over 75 countries, PIC offers global service solutions to your domestic and international projects. PIC serves its customers from its corporate office in Atlanta, Georgia as well as Houston, Texas; Zurich, Switzerland; Kuala Lumpur, Malaysia; Buenos Aires, Argentina; Rio de Janeiro, Brazil; Mexico City, Mexico and Beirut, Lebanon.