NEWS FROM L.B. Foster Company 415 HOLIDAY DRIVE PITTSBURGH, PA 15220 IMMEDIATE Dean Frenz 412-928-3410 (FAX) 412-928-7891 L. B. FOSTER COMPANY AWARDED FIRST PHASE OF ALAMEDA CORRIDOR PITTSBURGH, PA. November 3, 1998-- L. B. Foster Company (NASDAQ; FSTR) announced today that it has been awarded the track material procurement contract on the first phase of the Alameda Corridor (by-pass and storage tracks). This bid was direct to the Alameda Corridor Transportation Authority and is valued at $6.8 million. Foster will supply the continuous welded rail and other rail accessories along with (32)(thirty-two) #10, 133 pound turnouts. The Alameda Corridor is a $2 billion project that will consolidate 90 miles of branch lines into one 20-mile line servicing the ports of Los Angeles and Long Beach. L. B. Foster Company, headquartered in Pittsburgh, PA is a manufacturer, fabricator and distributor of rail, construction, and tubular products. The Company wishes to caution readers that various factors could cause the actual results of the Company to differ materially from those indicated by forward-looking statements in news releases, and other communications, including oral statements, made from time to time by representatives of the Company. Matters discussed in such communications are forward-looking statements that involve risks and uncertainties.