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H.C. Price and Gregory & Cook Construction, Inc. Announce Merger

Thu Jan 31, 2008

Charles Price, Chairman of H.C. Price Company, and Paul Gregory, President of Gregory & Cook
Construction, Inc., are pleased to announce the formation of a new company, Price Gregory
Services, Incorporated ("Price Gregory Services" or "the Company"). The new company will bring
together two of the largest and most respected pipeline-related infrastructure service providers in
North America. Both companies bring an experienced and capable employee-base and a long
track record of excellent customer service.

H.C. Price Company (and related companies) is a market-leading privately-held pipeline and
general contractor based in Dallas, TX. The company has long been regarded as one of the
most technologically advanced pipeline contractors in the world and has consistently participated
in the most challenging and important pipeline projects domestically and internationally since its
founding in the 1920's. The company has operations in the United States (lower 48), Canada,
and Alaska, and has experience working internationally.

Gregory & Cook Construction, Inc. (and predecessor companies) is an established, privately-held
pipeline contractor based in Houston, TX. The company has a long track record of successful
pipeline projects for major domestic and international customers and has operations in the United
States, and also has experience operating internationally.

The combined company will be better positioned to serve its existing clients through a larger
asset base, greater geographic coverage, and expanded management depth that is greater than
the sum of the parts. In addition, Price Gregory Services will serve as a strong foundation to build
a broader midstream infrastructure service provider that will seek to add complementary services
to its existing portfolio of capabilities.