For immediate release

HOMEWOOD, IL (May 2008) — The Graycor family of companies’ Board of Directors of Graycor Inc. has elected Matthew Gray President of Graycor Inc. and Steven Gray Vice Chairman and Chief Financial Officer of Graycor Inc.

Both Matthew Gray and Steven Gray currently serve on the board of directors and will continue to fulfill operational roles through these promotions.

Matthew Gray most recently served as Executive Vice President of Graycor Inc., a leading construction services firm with more than one billion dollars in construction projects underway throughout North America.

Steven Gray most recently served as President and Chief Financial Officer of Graycor Services LLC, a subsidiary of Graycor.

Brad Teckenbrock will continue as President of Graycor Industrial Constructors Inc. and Graycor Blasting Company Inc. Dave McAllen will continue as President of Graycor Construction Company Inc. and Graycor International. Melvin Gray will continue as Chairman of the Board of Graycor Inc.

Matthew Gray has held a variety of increasingly responsible positions at Graycor Inc. over the past 16 years in operations, estimating, marketing, business development, strategic planning and quality. Currently, his attention is focused on defining and supporting the company's strategic growth initiatives and working with clients on various commercial and industrial construction projects throughout the United States, Canada and Mexico. He also serves as Chairman of Graycor Construction Company Inc., a subsidiary of Graycor. He graduated with highest honors from Amherst College, earned a Master of Science degree in construction management from Northwestern University and is active with a number of professional and civic organizations in the Chicago area including the Economics Club of Chicago and the International Counsel of Shopping Centers.

Steven Gray has overseen development and operation of Graycor Inc.’s industry leading information systems, and formal planning process. In 1992 he was appointed Director of Planning and Information Technology, promoted to Vice President in 1995, and again promoted to Senior Vice President and CFO in 2001. Appointed President and CFO in 2006, he oversees the company’s finance, accounting, risk management, human resources and information technology operations. In addition, he serves as Secretary of Graycor’s Board of Directors. Steve holds a Ph.D. in economics from Northwestern’s Kellogg Graduate School of Management as well as masters degrees in electrical engineering and economics from Stanford University.

About the Graycor Companies

The Graycor companies – Graycor Industrial Constructors Inc., Graycor Construction Company Inc., Graycor Blasting Company Inc., and Graycor International – provide a wide variety of industrial and commercial construction services, as well as industrial maintenance technologies, across North America. As a top ranking industry leader with annual revenues in excess of $600 million, Graycor commits to safe working environments, demands excellence and rewards passion. Established in 1921, Graycor employs more than 1,500 construction specialists at the Chicago headquarters, regional offices and project locations across the United States, Canada and Mexico. For more information on the Graycor family of companies, visit www.graycor.com or call 1-800-455-0440.