GRANITE EQUITY INVESTS IN GEOTEK

Manufacturer of PUPI fiberglass crossarms poised to grow.

STEWARTVILLE, MN, FEB. 4, 2009 - Granite Equity announced today that it has made a majority ownership investment in Stewartville-based Geotek. During the past 18 years, Geotek has evolved into an internationally recognized designer, manufacturer and distributor of reinforced fiberglass pultrusion products for the electric utility and animal containment markets. Using proprietary processes and several patented inventions, Geotek manufacturers and distributes pultruded fiberglass-composites that are used by the transmission and distribution power lines and substations.

Pat Mitchell, the retired president of Cold Spring Granite, will represent Granite Equity as the company's new chairman of the board. He commented, "Geotek has an impressive track record of growth and innovation, and its future looks very bright for continued growth through market expansion and new product offerings. Our country's new energy policy will rely upon the efficient and cost-effective transmission of power from producers to consumers.

Concurrent with the transaction, Geotek's co-founders, Conrad Fingerson and Amy Donahoe, will retire from daily operations and join the board of directors, while continuing in advisory capacities. Both will also retain an ownership stake in the company.

Derek Mazula, who assisted Granite Equity in the evaluation and planning for the investment, will join the business as the new CEO.

Says Fingerson, "We've worked side-by-side with Granite Equity and have confidence in their leadership to take the company to the next level. As founders, both Amy and I have deep interest in this company's continued growth and success."

About Geotek
With more than 35 years of experience, Geotek is an internationally recognized manufacturer of reinforced pultruded fiberglass products for the utilities, animal containment, nursery and consumer markets.

About PUPI
A division of Geotek, PUPI manufactures specially designed crossarms and components used by electrical utilties around the world. Engineered for superior load capacity, resistance to ultraviolet radiation and weathering, leading utilities choose PUPI fiberglass crossarms and components for consistent performance and long-term return on investment.