PIC Awarded Centerline Installation Contract for New Westinghouse 501F Combined-Cycle Plant in Puerto Rico

ATLANTA (July 23, 2006) - The PIC Companies is pleased to announce its successful award and mobilization for the centerline installation of two Westinghouse 501 F Gas Turbines and two Ansaldo 70-MW Steam Turbines near San Juan, Puerto Rico. The facility will provide electricity for Puerto Rico Electric Power Authority (PREPA.)

Atlantic Projects Company (APC) will join PIC on this project providing Technical Direction. PIC will provide the supervision, craft labor, tools and equipment. Mobilization for this project began on May 29th, 2006. Project completion is scheduled for July 7th 2007.

“PIC brings its proven execution experience to the project and is proud to have been awarded this highly competitive tender with one of the largest US based EPC firms. The PIC and APC alliance has experience with more than 300 large gas turbine installations. We are confident that our experienced personnel, processes and tools will be instrumental in the success of this facility,rdquo; stated Mark A. Wright, Vice President PIC Turbine Services.

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 more than 4,500 projects executed worldwide in more than 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.