Finning International Inc.

Finning International Inc.

May 01, 2007 12:45 ET

Finning Announces C$100 Million Truck Sale to Albian Sands

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - May 1, 2007) - Finning International Inc. ("Finning") (TSX:FTT) announced today that its Canadian division has secured a major mining equipment sale of 19 new Caterpillar 797B mining trucks valued at over C$100 million to Albian Sands Energy Inc. for operation in the Alberta oil sands.

Of the 19 - 400 ton trucks, 16 will be placed into service at the new Jackpine Mine, part of Albian Sands Expansion 1, while three are being added to Albian Sands' existing fleet at the Muskeg River Mine. The trucks for the Muskeg River Mine were delivered during the first quarter of 2007 and those for the Jackpine Mine will be delivered beginning late 2007 and throughout 2008.

A product support agreement for this equipment is currently under negotiation.

"The Alberta oil sands continues to be an exceptional growth opportunity for Finning," said Doug Whitehead, president and CEO of Finning International Inc. "We are responding by investing in our customer service capacity to maximize equipment performance for our customers and position Finning for further growth in this region."

"Albian Sands is an important oil sands customer and we are proud to grow our relationship with them as they expand their production in Fort McMurray," said Ian Reid, president of Finning (Canada). "We continue to add employees in this region and invest heavily in training to expand our already extensive product support capabilities in this demanding marketplace."

Albian Sands' Muskeg River Mine and Jackpine Mine are both located in the Fort McMurray region of Alberta, and utilize conventional large-scale truck and shovel mining methods. Albian Sands currently produces approximately 155,000 barrels of bitumen per day. Albian Sands Expansion 1, a 100,000 barrel-a-day expansion of mining and extraction activities, is expected to undergo commissioning and start-up in 2009. Albian Sands Energy operates the Muskeg River Mine and will operate Jackpine Mine on behalf of the Athabasca Oil Sands Project, a joint venture among Shell Canada (60%), Chevron Canada (20%) and Western Oil Sands L.P. (20%).

Finning International Inc. is the world's largest Caterpillar equipment dealer. 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). Finning also owns Hewden, the largest equipment rental business in the U.K. 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 our website at

This release may contain forward-looking statements and information, which reflect the current view of Finning International Inc. with respect to future events and financial performance. Any such forward-looking statements are subject to risks and uncertainties and Finning's actual results of operations could differ materially from historical results or current expectations. Finning assumes no obligation to publicly update or revise its 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 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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