Steeplejack Industrial Group Inc.

Steeplejack Industrial Group Inc.

September 26, 2007 15:22 ET

Steeplejack Industrial Group Inc. and the Brock Group Announce the Completion of Plan of Arrangement

EDMONTON, ALBERTA--(Marketwire - Sept. 26, 2007) - Steeplejack Industrial Group Inc. (TSX:SID) ("Steeplejack") and The Brock Group ("Brock") announced today that the previously announced plan of arrangement has been completed and that all of Steeplejack's outstanding Common Shares have been acquired by 1343512 Alberta Ltd., an affiliate of Brock Holdings III, Inc. Under the terms of the plan of arrangement, Steeplejack Shareholders will receive cash consideration (all in Canadian currency) of $11.50 per share.

Upon surrender to Valiant Trust Company (the "Depositary") for cancellation of share certificates, together with a duly completed and executed Letter of Transmittal, representing Steeplejack Shares, a Steeplejack Shareholder will receive a cheque issued by the Depositary (or other form of immediately available funds) in an amount representing the cash which such Shareholder has the right to receive pursuant to the plan of arrangement for such Steeplejack Shares, less any applicable withholdings. Under no circumstances will interest on the consideration payable pursuant to the plan of arrangement accrue or be paid to Steeplejack Shareholders. Any questions regarding payment of the consideration, including any request for an additional copy of the Letter of Transmittal, should be directed to the Depositary via telephone at 1-866-313-1872 (toll free in North America) or 403-233-2801 or via email at

With the completion of the plan of arrangement, Steeplejack's Common Shares will be delisted from the Toronto Stock Exchange.

Steeplejack Industrial Group Inc. is a multi-service company providing comprehensive project management, manpower and equipment supply for its industrial scaffolding and insulation customers. The Company operates through nine branches and serves a diverse group of large industrial and commercial organizations in Alberta and Saskatchewan. For more information about Steeplejack, please visit

The Brock Group, founded in 1947 and based in Texas, is a leading provider of scaffolding, coatings, insulation and other industrial specialty services with operations in North America, South America and the Caribbean. For more information about Brock, please visit

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