Insituform Technologies, Inc. Announces Pricing of Public Stock Offering

CHESTERFIELD, MO, February 11, 2009 – Insituform Technologies, Inc. (Nasdaq Global Select Market: INSU) announced today the pricing of a public offering of 9,000,000 shares of its Class A common stock at a public offering price of $13.00 per share, resulting in net proceeds to the Company of $111.15 million.  The Company granted the underwriters an overallotment option to purchase up to 1,350,000 additional shares of Class A common stock.  It is expected that the offering will close on February 17, 2009.

As previously announced, the Company expects that the proceeds of this offering will be used, in combination with borrowings under a proposed new credit facility and available cash resources, to finance the acquisitions of The Bayou Companies, LLC and Corrpro Companies, Inc.  The Company is acquiring the business of The Bayou Companies, LLC in an asset acquisition for $125 million in cash and Corrpro Companies, Inc. in a merger transaction with an enterprise value of approximately $91 million.

The closing of this offering is not conditioned on the consummation of the Bayou or Corrpro acquisitions.  The closing of each acquisition is subject to customary closing conditions, including the availability of financing in the case of the Corrpro acquisition.

Merrill Lynch & Co. serves as sole bookrunning lead manager for the offering, and Janney Montgomery Scott LLC and Stifel Nicolaus serve as co-managers.

A registration statement relating to these securities has been filed with, and declared effective by, the Securities and Exchange Commission.

This press release is neither an offer to sell nor a solicitation of an offer to buy the securities described herein. The offering of these securities is being made only by means of a prospectus and related prospectus supplement filed with the SEC as part of the Company's registration statement. The prospectus and prospectus supplement will be available at no charge on the SEC's Web site at www.sec.gov. When available, copies of the prospectus and prospectus supplement also may be obtained from Merrill Lynch & Co., Prospectus Department, 4 World Financial Center, New York, NY 10080.

Insituform Technologies, Inc. is a leading worldwide provider of proprietary technologies and services for rehabilitating sewer, water and other underground piping systems without digging or disruption. More information about Insituform is available on its website at www.insituform.com. 

 Insituform^®, the Insituform^® logo and Clean water for the world^® are the registered trademarks of Insituform Technologies, Inc. and its affiliates.

FOR MORE INFORMATION CONTACT:

Insituform Technologies, Inc.
David F. Morris, Senior Vice President and Chief Administrative Officer
636-530-8000