For Immediate Release
Thursday, February 23, 2006

For further information contact
John S. Cooper
President and Chief Executive Officer
Portec Rail Products, Inc.
(412) 782-6000, ext. 201

Press Release

Portec Rail Products, Inc. Reports 2005 Fourth Quarter and Annual Operating
Results (unaudited)

PITTSBURGH,  PA --(BUSINESS  WIRE) -- Thursday,  February 23, 2006 - Portec Rail
Products,  Inc. (NASDAQ  National Market -"PRPX") today announced  unaudited net
income of $1.4  million or $0.15 per share for the quarter  ended  December  31,
2005 and  unaudited  net income of $5.8 million or $0.61 per share,  net of $.02
per share related to costs incurred on  non-operating  assets in Troy, New York,
for the year  ended  December  31,  2005 on  average  basic and  diluted  shares
outstanding of 9,601,779 for both periods. This compares to unaudited net income
of $976,000 or $0.10 per share on  9,584,945  average  basic and diluted  shares
outstanding  for the quarter  ended  December 31, 2004 and $4.1 million or $0.46
per share on average basic and diluted  shares  outstanding of 8,929,599 for the
year ended December 31, 2004.

Net sales during the fourth  quarter 2005 were $21.7  million  compared to $18.7
million during the fourth quarter of 2004. Net sales for the year ended December
31,  2005 were  $90.8  million  compared  to $69.4  million  for the year  ended
December 31, 2004.  During the fourth quarter of 2005, the Company took a charge
to net income of $85,000,  or  approximately  $0.01 per share,  related to costs
incurred  on  non-operating  assets  in Troy,  New  York,  that  were  partially
destroyed by a fire in May 2005.

John S. Cooper, President and Chief Executive Officer said, "We are pleased with
our fourth quarter and full year results.  Our 2005 results are a record for the
Company as total  revenues grew by 31% and net income  increased by 43%. Each of
our four core business units had higher operating  profits for the year. Our two
acquisitions  made  in late  2004,  Salient  Systems  and  Kelsan  Technologies,
combined added  approximately $11.7 million in net sales and $1.4 million in net
income as they completed their first full year with the Company.  The demand for
our product lines remains brisk and the outlook for our  customers'  maintenance
and capital  spending  plans looks solid for 2006. In addition,  we continued to
have  strong  bookings  for  our  United  Kingdom  material   handling  business
throughout the fourth quarter of 2005.

Cooper  also said,  "As stated in our third  quarter  earnings  release,  we are
pursuing  our  strategy  to grow  and  improve  performance  of our  core  track
component,  load securement and material  handling product lines and at the same
time add new sales and  operating  profits  from new higher  technology  product
lines  such as  friction  management  and  wayside  fault  detection.  Our track
component  product lines benefit from the high level of railway  maintenance and
construction activity and our friction management and wayside detection products
are geared to cost reductions for our customers  relative to rail,  wheel,  fuel
and track maintenance expenses."

Portec  Rail  Products,   Inc.,   headquartered  in  Pittsburgh,   Pennsylvania,
manufactures,  supplies  and  distributes  a broad range of  railroad  products,
including  rail joints,  rail anchors and spikes,  railway  friction  management
products,  railway wayside data collection and data management  systems and load
securement systems. The Company's largest business unit, the Railway Maintenance
Products  Division,  operates a manufacturing  and assembly plant in Huntington,
West Virginia,  an engineering  and assembly  facility in Dublin,  Ohio (Salient
Systems),  and is also  headquartered  in  Pittsburgh.  The Company also has two
Canadian  subsidiaries,  one of  which is  headquartered  near  Montreal  with a
manufacturing  operation  in St.  Jean,  Quebec and the other  headquartered  in
Vancouver,  British  Columbia that is a technology  and  manufacturing  facility
(Kelsan Technologies). In addition, the Company sells load securement systems to
the railroad  freight car market through its Shipping  Systems  Division located
near  Chicago,  Illinois.  The Company also  manufactures  railway  products and
material handling equipment at its wholly-owned subsidiary in the United Kingdom
with operations in Wrexham, Wales and Leicester,  England. Portec Rail Products,
Inc.'s web site address is www.portecrail.com.

The  foregoing  information  contains  forward-looking  statements.  The Company
cautions  that such  statements  are subject to a number of  uncertainties.  The
Company  identifies  below  important  factors that could  affect the  Company's
financial  performance  and could cause the Company's  actual results for future
periods to differ  materially  from any opinions or  statements  expressed  with
respect  to  future  periods  in any  current  statements.  In  particular,  the
Company's  future  results  could be affected  by a variety of factors,  such as
customer demand for our products; competitive dynamics in the North American and
worldwide  railroad and railway supply industries;  capital  expenditures by the
railway  industry in North America and worldwide;  the development and retention
of  sales  representation  and  distribution   agreements  with  third  parties;
fluctuations  in the  cost  and  availability  of raw  materials  and  supplies;
currency  rate  fluctuations;  and exposure to pension  liabilities.  Additional
cautions regarding forward-looking statements are provided in the Company's Form
10-K for the year ended  December  31,  2004 and Form 10-Q for the period  ended
September  30,  2005  under  the  heading  "Cautionary   Statement  Relevant  to
Forward-looking  Statements."  Unaudited  information  at and for the year ended
December 31, 2005 is subject to  adjustment  as a result of the year-end  audit.
The Company does not undertake,  and specifically  disclaims,  any obligation to
update or revise any  forward-looking  statement,  whether written or oral, that
may be made from time to time by or on behalf of the Company.

Portec Rail Products, Inc.
Consolidated Statements of Income
(In thousands, except share and per share data)

Three Months Ended Years Ended December 31, December 31, ----------------------------------------------------------- 2005 2004 2005 2004 ----------------------------------------------------------- (Unaudited) (Unaudited) Net sales $ 21,695 $ 18,708 $ 90,793 $ 69,437 Cost of sales 14,289 12,780 61,235 49,720 ----------------------------------------------------------- Gross profit 7,406 5,928 29,558 19,717 Selling, general and administrative 5,035 4,265 19,641 13,347 Amortization expense 181 68 698 116 ----------------------------------------------------------- Operating income 2,190 1,595 9,219 6,254 Interest expense 190 112 856 203 Other expense (income), net 108 17 248 (25) ----------------------------------------------------------- Income before income taxes 1,892 1,466 8,115 6,076 Provision for income taxes 491 490 2,288 2,003 ----------------------------------------------------------- Net income $ 1,401 $ 976 $ 5,827 $ 4,073 =========================================================== Earnings per share Basic and diluted $ 0.15 $ 0.10 $ 0.61 $ 0.46 Average basic and diluted shares outstanding 9,601,779 9,584,945 9,601,779 8,929,599
Consolidated Condensed Balance Sheets (In thousands)
December 31, December 31, 2005 2004 ---------------- ----------------- (Unaudited) Assets Current assets $ 41,358 $ 40,672 Property, plant and equipment, net 12,173 12,660 Goodwill and other intangibles, net 35,020 35,142 Other assets 318 151 ---------------- ----------------- Total assets $ 88,869 $ 88,625 ================ ================= Liabilities and Shareholders' Equity Current liabilities $ 15,943 $ 15,411 Other liabilities and long-term debt obligations 22,478 26,170 Shareholders' equity 50,448 47,044 ---------------- ----------------- Total liabilities and shareholders' equity $ 88,869 $ 88,625 ================ =================

The following information was filed by Portec Rail Products Inc on Friday, February 24, 2006 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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