Aecon Group Inc.
TSX : ARE

Aecon Group Inc.

September 10, 2009 17:00 ET

Aecon Awarded $38 Million for Chemical Engineering Building at the University of Waterloo

TORONTO, ONTARIO--(Marketwire - Sept. 10, 2009) - Aecon Group Inc. (TSX:ARE) announced today that its Buildings Division has been awarded a $38 million design-build contract for a new chemical engineering building at the University of Waterloo.

Under the contract, Aecon will construct a five-storey, 113,000 square foot concrete structure on an existing parking lot at the University of Waterloo campus. The building will include wet and dry lab facilities, as well as administrative space. Work will begin immediately and is expected to be complete in March 2011.

Aecon has previously completed a number of other projects for the University of Waterloo and is currently building the $130 million Mike and Ophelia Lazaridis Quantum-Nano Centre at the University.

"Aecon is pleased to be working for the University of Waterloo on another significant project," said Frank Ross, President, Aecon Buildings. "Our long-standing relationship with the University of Waterloo is an illustration of our growing leadership in social infrastructure construction."

Aecon recently announced a $52 million contract awarded to Aecon Buildings for the redevelopment of the Queenston-Lewiston Border Crossing Plaza, a $47 million contract award for the reconstruction of the Carbonneau Bridge in Quebec, as well as a $79 million contract for a new social science building at the University of Ottawa. This new contract brings the total of value of contract awards announced by Aecon in the past two weeks to $216 million.

Aecon Group Inc. is Canada's largest, publicly traded construction and infrastructure development company. Aecon and its subsidiaries provide services to private and public sector clients throughout Canada and on a selected basis internationally. Aecon is pleased to be recognized as one of the 10 Best Employers in Canada as published by Report on Business Magazine, as well as one of the Top 100 Employers in Canada as published in Maclean's Magazine.

The information in this news release includes certain forward-looking statements. These statements are based upon assumptions that are subject to significant risks and uncertainties which are generally described in Section 3.2 "Risk Factors" in Aecon's Annual Information Form dated March 30, 2009 available on SEDAR at www.sedar.com. Although Aecon believes that the expectations reflected in forward-looking statements are reasonable, it can give no assurance that the expectations of any forward-looking statements will prove to be correct.

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