Finning International Inc.

Finning International Inc.
Collicutt Energy Services Ltd.

Collicutt Energy Services Ltd.

January 16, 2008 09:30 ET

Finning Completes Acquisition of Collicutt

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 16, 2008) - Finning International Inc. (Finning) (TSX:FTT) and Collicutt Energy Services Ltd. (Collicutt) (TSX:COH) jointly announced today that Finning has been successful in its Offer, dated Dec 4, 2007, to acquire Collicutt. Approximately 9.849 million common shares of Collicutt, representing more than 99.3% of the issued and outstanding common shares, have been tendered to the Offer. Approximately 9.805 million Collicutt common shares have been tendered for cash and approximately 44,000 Collicutt common shares will be exchanged for Finning common shares. Finning will issue approximately 14,400 common shares in connection with the acquisition.

Finning has now declared the Offer to be wholly unconditional, and has instructed the depositary for the Offer, Computershare Investor Services Inc., to take up all of the shares deposited to the Offer. Payment to depositing Collicutt shareholders will be made by the depositary as soon as practicable. A sufficient number of common shares has been tendered to the Offer to permit Finning to exercise its right to acquire the remaining common shares pursuant to a compulsory acquisition which Finning intends to complete as soon as possible. Upon the completion of any such compulsory acquisition, Finning intends to de-list the Collicutt common shares from the TSX.

Finning International Inc. is one of the world's largest Caterpillar equipment dealers. The Company sells, rents and provides customer support services for Caterpillar equipment and engines in Western Canada, the U.K., and South America (Argentina, Bolivia, Chile and Uruguay). Headquartered in Vancouver, British Columbia, Canada, Finning International Inc. is a widely held, publicly traded corporation, listed on the Toronto Stock Exchange (symbol FTT). For additional information please visit

This release contains forward-looking statements and information, which reflect the current view of Finning International Inc. and Collicutt Energy Services Ltd. with respect to future events and financial performance. Any such forward-looking statements are subject to risks and uncertainties and Finning's and Collicutt's actual results of operations could differ materially from historical results or current expectations. Finning and Collicutt assume no obligation to publicly update or revise these forward-looking statements even if experience or future changes make it clear that any projected results expressed or implied therein do not materialize.

Refer to Finning's and Collicutt's annual report, management information circular, annual information form and other filings with the Ontario Securities Commission and Toronto Stock Exchange for further information on risks and uncertainties that could cause actual results to differ materially from forward-looking statements contained in this report.

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