Dresser-Rand Acquires Compressed Air Energy Storage Intellectual Property from Energy Storage and Power and Dr. Michael Nakhamkin

Dresser-Rand Company, a subsidiary of Dresser-Rand Group Inc. ("Dresser-Rand" or, collectively with its affiliates, the "Company")

, a global supplier of rotating equipment solutions to the oil, gas, petrochemical, and process industries, has acquired certain intellectual property assets from Energy Storage and Power LLC ("ES&P") and Dr. Michael Nakhamkin. Dresser-Rand has purchased all patents, trademarks and other intellectual property associated with compressed air energy storage (CAES) technology developed by Dr. Nakhamkin, and is retaining Dr. Nakhamkin, ES&P's owner, as a consultant.