CanWel Building Materials Group Ltd.
TSX : CWX.UN

CanWel Building Materials Group Ltd.

August 31, 2005 16:00 ET

CanWel Building Materials Income Fund Appoints Two Independent Directors

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Aug. 31, 2005) -

NOT FOR RELEASE OR DISSEMINATION INTO THE UNITED STATES

CanWel Building Materials Income Fund (the "Fund") (TSX:CWX.UN) is pleased to announce the appointments of Peter Dhillon and Todd Grenich to the Board of Trustees of the Fund.

Mr. Dhillon currently serves as the CEO of The Richberry Group of Companies, one of Ocean Spray Cranberries Inc. largest shareholders and suppliers. Mr. Dhillon is a Director and past Vice Chairman of Ocean Spray Cranberries Inc. Mr. Dhillon is also a member on the Board of Directors of the Vancouver Olympic Organizing Committee, the Vancouver International Airport Authority, the UBC-VGH Hospital Foundation, and Atomic Energy of Canada Ltd. Mr. Dhillon lives in Richmond, BC, graduated from the University of British Columbia where he earned his Bachelor of Arts degree in History. He continued his education in the UK with a LL.B with honours.

Mr. Grenich is an engineer by training, and professional consultant and co-founder of Reference Point, LLC following his tenure at Accenture. Over the years, Mr. Grenich has provided numerous large U.S. corporations such as Berkshire Hathaway, Boeing and American Electric Power with strategic advice with regards to their business strategies, expense management, and acquisition planning. Mr. Grenich lives in Seattle, WA and holds an Industrial Engineering Degree with a minor in Economics from the University of Washington.

"I am extremely pleased to welcome Mr. Grenich and Mr. Dhillon to the Board of Trustees and look forward to their contribution to the Fund," noted Amar Doman, Chairman of CanWel Building Materials.

About CanWel

The Fund trades on the Toronto Stock Exchange under the symbol CWX.UN and is one of Canada's largest national distributors in the building materials and related products sector, with over $1 billion in revenues, operating 17 distribution centres across Canada. The Fund distributes a wide range of hardware, building materials, lumber, and renovation products.

Further information can be found in the disclosure documents filed by CanWel Building Materials Income Fund with the securities regulatory authorities, available at www.sedar.com.

Contact Information

  • CanWel Building Materials Income Fund
    Tom Donaldson
    President
    (604) 432-1400
    or
    Genoa Management Limited
    Ali Mahdavi
    Investor Relations
    (416) 962-3300
    amahdavi@genoa.ca