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                                                                      Exhibit 99
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                        CHART INDUSTRIES TO ACQUIRE U.K.
                           HEAT EXCHANGER MANUFACTURER


Mayfield Heights, Ohio - March 5, 1998 - Chart Industries, Inc. (NYSE:CTI)
announced today that it has signed a definitive agreement with IMI plc, a major
international engineering group, to acquire the Industrial Heat Exchanger
("IHE") division of IMI Marston Limited, a wholly-owned subsidiary of IMI plc.
Under the terms of the agreement, Chart has formed a wholly-owned subsidiary in
the U.K., Chart Marston Limited, to acquire the assets of IHE for 21 million
pounds in cash (approximately $34.6 million U.S.). Chart contemplates closing
the acquisition on or before March 27, 1998.

Commenting on the acquisition, Arthur S. Holmes, Chart's Chairman and Chief
Executive Officer, said "I am very excited to add the Marston Industrial Heat
Exchanger business to the Chart family of companies. The U.K. company will
significantly expand Chart's global reach for its cryogenic heat exchanger
products and provide a strategic base from which to introduce other Chart
products to the E.E.C. and other growth markets. I expect the acquisition to be
accretive to earnings in 1998 and to contribute to future profitable growth."

IHE manufactures primarily brazed aluminum heat exchanges for industrial
cryogenic applications. The IHE manufacturing facilities are located in
Wolverhampton, which is near the city of Birmingham in the U.K. In its fiscal
year ended December 31, 1997, IHE had sales of approximately $30 million.

Chart Industries, Inc. manufactures standard and custom-built industrial process
equipment primarily for low-temperature and cryogenic applications. The Company
also manufactures other industrial equipment such as structural pipe supports,
stainless steel tubing, and high-vacuum systems. Headquartered in Mayfield
Heights, Ohio, Chart has operations located in Arkansas, California, Colorado,
Louisiana, Massachusetts, New Hampshire, Ohio, Pennsylvania and Wisconsin.