Goodfellow Inc.

Goodfellow Inc.

October 25, 2005 20:20 ET

Goodfellow Inc.-Decision on Income Trust and Special Dividend

DELSON, QUEBEC--(CCNMatthews - Oct. 25, 2005) - The Board of Directors of Goodfellow Inc. (TSX:GDL) has studied the advisibility and feasibility of converting the Company into an income trust and has decided against it for the following reasons:

1. We do not believe that the Governments can tax companies which
create a minimum of new jobs more advantageously than companies
that reinvest money to grow operations.

2. The current uncertainty created by the Federal Government's as
to taxation of income trusts makes it difficult to proceed
without risk.

In order to reward our shareholders, the Board of Directors decided to declare an extra dividend of $0.50 per share to all shareholders of record March 31, 2006 and payable April 14th, 2006. By that time tax issues should be settled.

Goodfellow's shares are traded on the Toronto Stock Exchange (ticker symbol: GDL).

Contact Information

  • Goodfellow Inc.
    Richard Goodfellow
    (450) 635-6511