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Larry Edwards Announces Retirement as CEO of Global Power Equipment Group Inc. TULSA, Okla., March 2 /PRNewswire-FirstCall/ -- Global Power Equipment Group Inc. (NYSE:GEG) ("Company") announced today that Larry Edwards, 55, has decided to retire as Chief Executive Officer effective June 30, 2005. Mr. Edwards will continue as Chairman of the Board of Directors and a member of the Executive Committee and become a consultant to the Company. The Board announced that his successor will be Al Brousseau, 54, currently President and Chief Operating Officer of Global Power Equipment Group Inc. Mr. Edwards has been with the Company for nearly three decades and has been a driving force in the Company's success. Since joining Braden Manufacturing, one of the Company's subsidiaries, in 1976 as a systems analyst, Mr. Edwards has held a number of key leadership positions. During the course of his career he took on positions of increasing responsibility, including being named General Manager of Braden Steel in 1985 and subsequently President of Braden Manufacturing in 1989 when Jason Incorporated purchased the unit. When Jason acquired Deltak in 1994, another subsidiary of Global Power Equipment Group, Larry was named President of Jason Power Systems, the parent of Braden Manufacturing and Deltak. In 1998, Larry and a private equity firm spearheaded a management-led buyout of Braden and Deltak under the name of Global Energy Equipment Group, which was later transformed into Global Power Equipment Group Inc. when the Company launched its initial public offering in May 2001. Larry was named President and CEO of the Company in May 2001 and was elected Chairman of the Board in October 2003. "Larry has done an excellent job of leading Global Power Equipment Group through a number of major transitions and has enhanced the Company's value for everyone -- customers, employees, manufacturing partners and shareholders," said Jerry Ryan, an independent director and chairman of the board's nominating committee. The board has greatly valued his leadership and we are pleased that he will remain Chairman and be actively involved with the Company on several fronts." Mr. Ryan further added, "We are equally fortunate that the Board took the appropriate planning steps and brought on a very capable individual last fall whom we believe will quickly assume Larry's duties as the CEO after his retirement. The entire Board has all the faith and confidence in Al Brousseau's ability to lead the organization and further expand the Company." "I've been very fortunate to work with an excellent group of people over the years," said Edwards, "and their commitment, innovation and customer- centric focus has produced outstanding results in all market conditions. Like other members of the Board, I am confident that Al Brousseau will continue to take the Company forward and further enhance shareholder value. As CEO, he will bring a strong understanding of the business and has quickly gained the support and trust of our entire organization. As Chairman of the Company, I will continue to work closely with Al and other members of the senior management team with a particular emphasis on international marketing initiatives, as well as provide strategic support to Global Power's business development and integration activities. I want to express my sincere thanks to the employees, customers and shareholders that have supported me over the years and I wish all of these groups the best of success." About Global Power Oklahoma based Global Power Equipment Group Inc. is a leading design, engineering and manufacturing firm providing a broad array of equipment and services to the global energy, power infrastructure and process industries. The Company designs, engineers and manufactures a comprehensive portfolio of equipment for gas turbine power plants and power-related equipment for industrial operations, and has over 30 years of power generation industry experience. The Company's equipment is installed in power plants and in industrial operations in more than 40 countries on six continents and believes, in its product lines, it has one of the largest installed bases of equipment for power generation in the world. In addition, the Company provides its customers with value-added services including engineering, retrofit, maintenance and repair. Additional information about Global Power Equipment Group may be found at http://www.globalpower.com/ . Company Contact: Bob Zwerneman Director of Investor Relations (918) 274-2398 DATASOURCE: Global Power Equipment Group Inc. CONTACT: Bob Zwerneman, Director of Investor Relations of Global Power Equipment Group Inc., +1-918-274-2398 Web site: http://www.globalpower.com/

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