Argan, Inc.’s Wholly Owned Subsidiary Gemma Power Systems California. Inc. Receives Full Notice to Proceed on the $250 Million Engineering, Procurement and Construction Contract for the CPV Sentinel Peaking Power Project in Riverside County, California

ROCKVILLE, MD – Argan, Inc. (NYSE AMEX: AGX) today announced that its wholly owned subsidiary, Gemma Power Systems California, Inc. (GPS), has received a full notice to proceed from CPV Sentinel for an approximately $250 million contract to design, build and perform other services in connection with the 800 MW, eight GE LMS100 unit simple cycle peaking power plant near Desert Hot Springs, California.