PIC to Perform Start-up, Commissioning and Training for Riverbay Cogeneration

ATLANTA (June 6, 2007) – The PIC Companies is pleased to announce it has been awarded a contract to provide Fresh Meadow Mechanical Corporation (FMMC) with Start-Up, Commissioning, and Testing services for the Co-Op City Cogeneration Facility located in the Bronx, New York.

The project consists of adding two 12-megawatt (MW) Siemens Industrial Turbomachinery, Inc. SGT-400 combustion turbines, two Innovative Steam Technologies Once Thru Steam Generators, a 16 MW Siemens Industrial Turbomachinery, Inc. SST-300 (extracting) steam turbine generator, and a Rentech 150,000 PPH Packaged Boiler to the existing plant. The cogeneration plant will be responsible for providing heat, hot water, air conditioning and electrical distribution to all buildings in the Co-op City neighborhood that houses approximately 60,000 residents, the largest Cooperative in the world. Once the expansion is complete, the Co-Op City cogeneration Plant will be capable of exporting 20 megawatts of much needed power to meet growing demands.

The contract includes Commissioning Documentation, System Turnover Packages, and System Commissioning Procedures as well as actual Start-up, Commissioning, and Testing execution services. PIC is a complete turnkey provider of Power Industry services, offering FMMC a seamless and integrated solution for the complete start-up and commissioning of the Riverbay power facility.

Fresh Meadow Mechanical Corporation is a well-established mechanical contractor with over 20 years of experience. FMMC has been engaged in mechanical construction, encompassing projects that are plan and specification, design-build, including value engineering of plan and specification projects, and turnkey projects. Fresh Meadows specializes in power plants, hi-rise residential buildings, commercial buildings, office buildings, correctional facilities, tenant work, sewerage treatment plants, chemical and pharmaceutical institutions, industrial buildings, and renovation projects.

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, PIC provides value added services with a focus on quality, safety and optimum results. With over 5,000 projects executed worldwide in 100 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; Lima, Peru; and Mexico City, Mexico.