Coal, Gas

Global Power Equipment Group elects two additional directors

TULSA, Okla., March 21, 2002 — Global Power Equipment Group Inc. announced the election of Adrian W. Doherty Jr. and Jerry E. Ryan to the company’s board of directors. The addition of these two members brings the total number of directors to seven.

Doherty has more than 20 years experience in energy investment banking most recently as a senior equity capital markets professional at Salomon Smith Barney from 1999 to 2001 and as a managing director within J.P. Morgan’s Global Natural Resources Group from 1994 to 1999. Doherty recently helped establish a new oil and gas exploration company, Anzon Energy Limited, as a member of the Anzon Energy board of directors.

Doherty received his Master of Business Administration degree in Finance from The Wharton School at the University of Pennsylvania and graduated magna cum laude from Amherst College with a degree in Geology.

Ryan is also a private businessman and the former Chairman of the Board and Chief Executive Officer of Fintube Limited Partnership between 1984 and 2000. Ryan also serves on the boards of Lone Star Technologies and AAON Incorporated.

Ryan is a graduate of Oklahoma State University in industrial engineering and has decades of experience in the heat recovery business.

“I am very pleased that both of these gentlemen have joined the board of the company”, stated Stephen Eisenstein, Chairman of Global Power Equipment Group. Larry Edwards, Global Power Equipment Group’s President and CEO added, “their separate backgrounds in investment banking and operations in the energy arena will strengthen our board.”

About Global Power Equipment Group
Oklahoma-based Global Power Equipment Group Inc. is a design, engineering and fabricator of equipment for gas turbine power plants. The company markets its products under the Deltak, Braden, and Consolidated Fabricators brands and also offers value-added services including engineering, retrofit and upgrade, and maintenance and repair.

Global Power Equipment Group’s equipment is installed in power plants in more than 30 countries on six continents, giving it what it believes to be one of the largest installed bases of equipment for gas-fired turbine power plants. Additional information about Global Power Equipment Group may be found at www.globalpower.com.