F. B. Leopold Co. poised for the future under new ownership

Zelienople, Pa., April 15, 2004 -- The F. B. Leopold Company, Inc. announced that the company was purchased from RWE Thames Water by Leopold's executive management team and a Pittsburgh-based private equity group, PNC Equity Partners.

Headquartered in Western Pennsylvania since 1924, Leopold is a supplier of filtration and clarification systems for the municipal water and wastewater treatment industry for over 80 years.

Leopold has its headquarters office and manufacturing facility located in Zelienople, Pennsylvania, and also maintains a sales office in the UK and an anthracite processing facility in Watsontown, Pennsylvania.

RWE Thames Water, the owner of Leopold since 1992, cited the reason for the sale as a shift in its core business strategy to the delivery of water and wastewater services.

"We're excited about our new ownership," commented Michael Ulizio, president and chief executive officer of Leopold, "and we look forward to continuing to build on the solid performance we've attained over the life of the company."

www.FBLeopold.com