Seacliff Construction Corp.

Seacliff Construction Corp.

April 08, 2009 16:05 ET

Seacliff Construction Awarded $38.5 Million Electrical Contract for New Teaching and Research Facility in Edmonton

Fourth Major Infrastructure Announcement Since January

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 8, 2009) - Seacliff Construction Corp. ("Seacliff") (TSX:SDC) today announced that Canem Systems, its electrical and data communication contracting division, has been awarded the Electrical Construction Management Services contract for the Edmonton Clinic North (ECN), a new 570,000 square foot teaching, research and administration facility at the University of Alberta. The value of the contract is estimated at $38.5 million, with the total budget for the ECN expected to be $350 - $400 million. Canem has already begun work at the site and project completion is anticipated for 2011.

"We are extremely pleased with the selection of Canem to manage the electrical construction component of this landmark infrastructure project," said Bill Crarer, Seacliff's CEO. "Canem excels at large, complex, multi-year projects like this one, and we look forward to contributing to its ultimate success."

The ECN is the academic portion of the Edmonton Clinic, a new, state-of-the-art facility that will unify one-stop outpatient care with leading-edge teaching and research practices. In January of this year, the Edmonton Clinic was ranked Canada's 15th largest infrastructure project, with an estimated capital cost of $909 million. It is expected to be a regional, national and, potentially, an international catalyst in transforming the way patients are diagnosed and treated, how health sciences students are educated and trained, and how medical research is conducted.

This marks the fourth major institutional infrastructure project win that Seacliff has announced since the beginning of January. The other three projects include a $25 million RCMP facility in Prince George, B.C., a $19 million recreational centre in Cloverdale, B.C. and a $10.5 million electrical contract for a digital library at the University of Calgary in Alberta.

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For more information on the Edmonton Clinic please see:

About Seacliff Construction Corp.

Seacliff, which went public through an initial public offering in late April 2008, is one of the largest and most diversified construction companies in Western Canada. It provides general contracting construction services and electrical contracting services to a wide array of clients in both the public and private sectors, with a majority of its business derived from institutional, commercial and light industrial construction projects. Seacliff is headquartered in Vancouver, B.C. and operates 15 locations in British Columbia, Alberta, Saskatchewan and Manitoba, as well as one location in Northwestern Ontario. Seacliff's business is conducted through two business units: Dominion Construction, a general contractor; and Canem Systems, an electrical contractor.

As a general contractor, Dominion offers diversified general contracting, construction management and design build services in Western Canada primarily to institutional, commercial and light industrial clients. Dominion's services include preconstruction planning and comprehensive project management services, including the planning and scheduling of the manpower, equipment, materials and subcontractors required for a project.

Canem provides a broad range of services including designing, building, maintaining and servicing electrical and data communication systems for institutional, commercial, light industrial and multi-family residential customers. Canem's electrical contracting services include: designing electrical distribution systems within a building or complex; procuring and installing electrical equipment and materials; on-call service for electrical maintenance and troubleshooting; preventative and scheduled maintenance for critical component installations; budgeting and preconstruction services; and management of regional and national contracts for multi-site installations.

Forward-Looking Statements

Certain statements in this press release may constitute forward-looking statements or information under applicable securities legislation. Such forward-looking statements or information are based on a number of assumptions which may prove to be incorrect. Assumptions have been made regarding, among other things, the successful implementation of Seacliff's business plan, the availability to Seacliff of qualified personnel, the continuation and completion of the projects forming Seacliff's Total Work on Hand, and general economic, business and market conditions. Although Seacliff believes that the expectations reflected in such forward-looking statements or information are reasonable, undue reliance should not be placed on forward-looking statements because Seacliff can give no assurance that such expectations will prove to be correct. The forward-looking statements are based on Seacliff's current expectations, estimates and projections, and are subject to a number of significant risks and uncertainties that could cause actual results to differ materially from those anticipated. Such risks and uncertainties include, among others, Seacliff's ability to be retained for existing and new project work by existing and new clients, Seacliff's ability to retain and hire the qualified personnel required, the delay or cancellation of projects forming Seacliff's Total Work on Hand, general economic, business and market conditions, and other risks as are detailed from time to time in continuous disclosure filings of Seacliff. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as anticipated, believed, estimated or expected. These forward-looking statements are made as of the date of this press release, and Seacliff assumes no obligation to update or revise them to reflect new events or circumstances, except as required by applicable laws.

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