Aecon Group Inc.
TSX : ARE

Aecon Group Inc.

August 11, 2008 06:00 ET

Aecon Awarded $105 Million Contract for Reconstruction and Widening of Hwy 401 in Southwestern Ontario

TORONTO, ONTARIO--(Marketwire - Aug. 11, 2008) -

Attention Business Editors:

Aecon Group Inc. (TSX:ARE) announced today that it has been awarded a $105 million contract by the Ontario Ministry of Transportation (MTO) to reconstruct and widen a 15 km stretch of Highway 401 near Woodstock, Ontario. It is the third largest contract MTO has ever awarded, and the largest MTO contract Aecon has received.

Under the contract, Aecon will reconstruct 15.3 km of Highway 401 just east of Woodstock, including rehabilitation of seven bridge structures, installation of a concrete median barrier, and expansion of the highway from four lanes to six.

Aecon is the general contractor, and will self perform most of the work on the project, including all of the grading and granular work, sewer placement, barrier installation and bridge rehabilitation work. Paving work will be done through a joint venture with Capital Paving Inc. of Guelph, Ontario.

The project involves almost 700,000 cubic metres of earth excavation, 1.2 million tonnes of granular base, 400,000 tonnes of asphalt, and 12,500 cubic metres of concrete. Work on the project has already begun and is scheduled to be completed in the fall of 2011.

"MTO has been a valued customer of Aecon's for over 75 years, and we are very pleased to be awarded this contract, which is the largest project we have ever done for the MTO," said Teri McKibbon, CEO of Aecon's Infrastructure group. "We look forward to continuing our longstanding relationship with MTO as we complete this important contract."

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 internationally. Aecon is pleased to be recognized as one of the 50 Best Employers in Canada as published by Report on Business 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 discussed in greater detail in the section entitled "Risk Factors and Uncertainties" in Management's Discussion and Analysis of operating results and Financial Condition for the year ended December 31, 2007 filed 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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