McCoy Corporation

McCoy Corporation

September 27, 2007 14:30 ET

McCoy Corporation Announces Renewal of Normal Course Issuer Bid and Officer Appointment

EDMONTON, ALBERTA--(Marketwire - Sept. 27, 2007) - McCoy Corporation ("McCoy" or the "Corporation") (TSX:MCB) today announced that it has filed notice with The Toronto Stock Exchange to make a Normal Course Issuer Bid (the "Bid"), to purchase through the facilities of the Exchange, from time to time, as it considers advisable, up to 1,387,207 of the issued and outstanding common shares (being approximately 5% of the 27,744,144 common shares outstanding at September 20, 2007.) The maximum number of common shares that may be purchased on a daily basis is 2,573 which is equal to the 25% of the average daily trading volume for the six months ended August 31, 2007.

The bid may commence on September 29, 2007 and will continue until the earlier of September 28, 2008 and the date by which the Corporation has acquired the maximum number of common shares which may be purchased under the Bid. Purchases will be made through the facilities of The Toronto Stock Exchange and the price at which the Corporation may purchase its common shares will be the market price of the common shares at the time of purchase.

The Corporation has appointed Research Capital Corporation as its broker to conduct normal course issuer bid transactions. Common shares purchased by the corporation will be returned to treasury for cancellation. During the twelve months preceding September 20, the Corporation repurchased 24,400 of its common shares at an average price of $4.99 per common share under the previous NCIB.

Management of the Corporation believes that from time to time the market price of the common shares may not reflect their underlying value and that, at such times, the purchase of common shares for cancellation will increase the proportionate interest of, and be advantageous to, all remaining shareholders.

The Corporation also announced that Mr. Ted Redmond, who joined the Corporation in 2006, was recently appointed an officer of the Corporation. Mr. Redmond is Vice President, Energy Products & Services.

About McCoy Corporation

McCoy Corporation is a publicly traded company listed on the Toronto Stock Exchange under the symbol "MCB". McCoy has three operating segments and employs approximately 900 individuals in Alberta, British Columbia and Louisiana.

Energy Products & Services
Farr Canada (a)
Inotec Coatings and Hydraulics Inc.
Rebel Metal Fabricators Ltd.
Superior Manufacturing & Hydraulics Inc.
Precision Die Technologies L.L.C.

Manufactures and services products for conventional and non-conventional oil and gas industry including: hydraulic power tongs, dies and inserts for tongs and slips/elevators, tong trucks, truck and trailer mounted hydrovac and vacuum tanks, computerized torque turn monitoring system, wear and corrosion resistant coatings, and specialized hydraulic services.

Trailer Manufacturing
Scona Trailer Manufacturing (a)
Peerless Limited
Produces lowboys, flat decks, step decks, oilfield, logging and specialty

Truck & Trailer Products & Services
The Real McCoy Service Centres (a)
Peerless Limited
Prairie Truck Ltd. (50%)

Specializes in equipment installation, suspension work, welding, safety inspections, brake service, alignments, frame straightening, axles and hydraulics for heavy-duty and some light-duty trucks.

(a) divisions of McCoy Corporation

This release may contain forward looking statements within the meaning of the "safe harbor" provisions of U.S. and other applicable laws. These statements are based on management's current expectations and beliefs and are subject to a number of risks and uncertainties that could cause actual results to differ materially from those described in the forward looking statements. The Corporation does not assume any obligation to update any forward looking information contained in this news release.

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