Fisher-Klosterman, Inc. Acquired by CECO Environmental Corp.

National City Capital Markets facilitates sale for $16.0 million plus earn-out payment

CLEVELAND, Feb. 27 - National City Capital Markets (NYSE:NCC) announced today that its Investment Banking Group served as financial advisor to Fisher-Klosterman, Inc., a leader and innovator in designing, manufacturing, and servicing a broad line of customized air pollution control and product recovery systems, in its announced sale to CECO Environmental Corp. (NASDAQ:CECE), a leading air pollution control and industrial ventilation systems company. The transaction was valued at an enterprise value of approximately $16.0 million, which includes $15.0 million in cash and $1.0 million in CECO Environmental common stock, plus up to $3.5 million in payments related to a three-year performance-based earn-out payable in unregistered common stock.

"We are excited about joining CECO and advancing our shared strategic vision for the company. CECO offers the Fisher-Klosterman companies improved access to capital, a seasoned team of successful senior management, larger- scale marketing resources, internal supply of many related products and services, and expansive relationships with new potential customers," said William Heumann, president of Fisher-Klosterman, Inc.

Headquartered in Louisville, Kentucky, the acquisition of Fisher- Klosterman also includes its Lebanon, Pennsylvania Buell Division, and most significantly, Fisher-Klosterman's 40,000 square foot sales and manufacturing facility in Shanghai, China. Fisher-Klosterman's businesses consist of producing cyclones, as well as classifiers, electrostatic precipitator parts and service, air filtration equipment and scrubbers. These products are utilized for air pollution control and particulate recovery in industries including petroleum refining, power production, petrochemicals and manufacturing.

"Fisher-Klosterman and Buell have built premier reputations in their niche markets for sophisticated, engineered products and solutions. Also, the company is well positioned to take advantage of the industrial growth in China. The combination with CECO Environmental will favorably position Fisher-Klosterman to compete for larger, more complex projects globally," said Davis Griffin, managing director with the National City Capital Markets' Investment Banking Group.

About Fisher-Klosterman, Inc.

Fisher-Klosterman, Inc. is an established provider of highly customized engineered solutions to customers in the petroleum refining, petrochemicals, and minerals and mining end markets. With intimate knowledge of the pollution control and product recovery needs of its niche markets and a worldwide reputation for quality, FKI delivers efficient and predictable solutions. To learn more about Fisher-Klosterman, visit their website at .

About CECO Environmental Corp. (NASDAQ:CECE)

CECO Environmental Corp. is North America's largest independent air pollution control company. Through its nine subsidiaries -- Busch, CECOaire, CECO Filters, CECO Abatement Systems, kbd/Technic, Kirk & Blum, H.M. White, Inc., Effox, and GMD Environmental -- CECO provides a wide spectrum of air quality services and products including: industrial air filters, environmental maintenance, monitoring and management services, and air quality improvements systems. CECO is a full-service provider to the steel, military, aluminum, automotive, ethanol, aerospace, electric power, semiconductor, chemical, cement, metalworking, glass, foundry and virtually all industrial process industries. For more information on CECO Environmental, please visit the company's website at .

About National City Capital Markets

National City Capital Markets provides strategic solutions including financial advisory, capital raising, capital commitment and risk management solutions to our corporate middle market and private equity clients. Backed by the resources of one of the nation's largest financial institutions, National City Corporation (NYSE:NCC), we are committed to building long-term relationships that help our clients address business challenges, maximize value and execute their strategic goals. For more information on Investment Banking at National City Capital Markets, visit the Web site at .

About National City

National City Corporation (NYSE:NCC), headquartered in Cleveland, Ohio, is one of the nation's largest financial holding companies. The company operates through an extensive banking network primarily in Ohio, Illinois, Indiana, Kentucky, Michigan, Missouri and Pennsylvania, and also serves customers in selected markets nationally. Its core businesses include commercial and retail banking, mortgage financing and servicing, consumer finance and asset management. For more information about National City, visit the company's Web site at .

FCMN Contact:

Source: National City Corporation

CONTACT: Terri Wilson of National City Corporation, +1-502-581-4073,

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