Goodfellow Inc.

Goodfellow Inc.

December 21, 2006 09:40 ET

Goodfellow Announces Two-for-One Stock Split

DELSON, QUEBEC--(CCNMatthews - Dec. 21, 2006) - Goodfellow Inc. (TSE:GDL) announced today that its Board of Directors has approved a two-for-one stock split of the company's common shares outstanding. The two-for-one stock split will take the form of a stock dividend. Shareholders will receive one additional common share of Goodfellow Inc.for each common share held. The stock dividend will be payable on February 2, 2007, to shareholders of record at the close of business on January 19, 2007. The stock split will have no tax consequences in Canada or the United States, and will not dilute shareholders' equity. Goodfellow's current share option plan will be adjusted to reflect the issuance of additional shares or options due to the declaration of the stock split. All share and per share data for future periods will also reflect the stock split.

"The stock split is an acknowledgement of the progress of the Company in recent years" said Mr. Stephen Jarislowsky, Chairman of the Board of Goodfellow Inc. today at the Annual General Meeting of Shareholders.

Goodfellow Inc. is eastern Canada's largest independent re-manufacturer and distributor of lumber products and Canada's largest distributor of hardwood flooring products. Goodfellow shares trade on the Toronto Stock Exchange under the symbol GDL.

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